The Scoop on Home Valuations
Computer generated Home Valuations can be useful tools to get a quick read on your home’s value. The best home valuation tools, such as the one we use (pictured above), will allow you to see a list of very recent sold prices (within 6 months) from the MLS for homes near your own. You probably have a general idea of the condition and size of the homes closest to your own and how your home compares. So with a list of sold homes nearby, you can compare and contrast your property and get an idea of where your home stands. If you would like to run your home through our home valuation tool, click here. Feel free to let us know what you think about the accuracy. On the North Shore, with such diverse housing stock, auto-valuation tools can run into accuracy issues. We found our own homes to be quite accurate with this tool so would be curious to hear about your own experience.
Of course, we are always happy to create a complimentary custom home valuation for you which will provide far more detail and accuracy. Whether you just want to stay on top of the market or need a valuation for estate planning or refinancing purposes, we're happy to help. Just let us know by calling or emailing us!
Zillow’s Zestimate Debunked
Home Valuations that only feature an estimate of your home’s selling price are often inaccurate and, as a seller, can even adversely affect your ability to sell. Sometimes buyers take those estimates as gospel and will “believe”
that a home is worth no more than its auto-valuation estimate – despite what nearby comparable home prices indicate. Whenever we list a property, one of the many steps we take is to check the main auto-valuation websites and work with the homeowner to correct the values indicated (if inaccurate) whenever possible. As an example of home valuations gone awry, Zillow’s own CEO’s home sold for 40% less than his Zillow Zestimate! Note the $1,750,405.00 Zestimate. Yet the home sold for $1,050,000 on February 29, 2016!