Hello, and welcome back. One of the questions I get asked most often is "What is my home worth?" Today we are going to answer that question, and show you how to get the most accurate valuation for your property.
Quite honestly, there are a lot of ways to figure out your home's value. It's really based on two things: who is looking at it and who is competing with it. This can change on a daily basis, and this has a lot of people trying to keep track of their home's value through websites like Trulia and Zillow, who offer free home value reports.
It's great to keep an eye on where your home's value is trending, but remember that there is a huge margin of error on these sites. A recent LA Times article quoted the president of Zillow as saying their deviation could be an average of 8% off. That's $48,000 of a $600,000 home, and can really affect the kind of money you get for your home sale, or the kind of price you purchase at.
These are companies that make money off advertising and providing information. It's not the best tool for determining real estate value. To get the best, most accurate valuation for your home, you need to talk to a real estate agent. In a small town like ours where there is a lot of diversity among homes, you need someone who can objectively determine value on a case-by-case basis.
If you have any questions, feel free to give me a call or send me a quick email. I look forward to hearing from you soon!