Now for a word of caution about any online home valuation tools:
We know they seem great because there’s no need to talk to a real estate agent. Just pop in the address, and voila, you get to see the value of the home.
You might figure that it’s super accurate, since we use uber-fancy algorithms and stuff and things.
However, all online real estate valuation sites are all basically painting a value on your roof, without ever having gone inside, and without ever having actually sold a house, anywhere, much less your neighborhood.
Unfortunately, there isn’t much anyone can do about it. Online estimators can only use public data to come up with their estimates. And this is where their shortcomings begin. They cannot account for a sellers market where only a small handful of homes are being sold. Think about it, you live in a small community, with modest priced homes that sell maybe 2-3 home per year, that is now surrounded by a new development with McMansions that are selling for double the average sales price in your area. The online estimators are going to artificially inflate the estimated value of your home because they need a large enough sample size (read: including the McMansions) to derive an estimated value.
The thing is, valuation sites exist because people tend to like them, and look at them. They wouldn’t exist if people didn’t continue to click on them. But we all do. They certainly are convenient, and entertaining, even if they are not accurate.
Pay attention to real estate agents instead.
We’ll be happy to run a REAL Comparative Market Analysis (CMA) for you, for FREE. Just let us know your address, property condition, and any updates that have been done to your home. Don’t feel like you’re bothering us, it’s what we’re here for.