A home’s value doesn’t always reflect its worth

Like a lot of people, Curtis saw the value of his home take a beating during the Great Recession. It’s still worth less than what he paid for it.

Curtis wants to know: How is a home’s value determined?

It might sound like a funny question, but it has merit. After all, who’s to say that a house in one neighborhood is worth more than an identical house in another?

ASK LAZ: David Lazarus answers reader questions

Moreover, how much do the value of nearby homes affect your own residence?

Your home may be your castle, but the market has plenty to say about. For more, check out today’s Ask Laz video.

If you have a consumer question of your own, email me at asklaz@latimes.com or contact me via Twitter using the hashtag #AskLaz.