What is your home worth? The answer depends on the reason you’re asking the question.
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You’ve probably seen the ads out there that tell you to just enter your address to get an automated estimate of your home’s value. Websites like Zillow have features like this too. You’ve got a few different options out there to get a valuation for your home, but do they truly tell you what it’s worth?
Before you figure out where you’re going to get your valuation from, you have to ask yourself why you are getting it. If it’s purely for informational purposes, any automated system will satisfy that curiosity. They are typically within 5% to 15% of your home’s value. A rough estimate, if you will.
However, if you want something more that you can use to determine a potential sale or refinance, you want to get in touch with a professional Realtor. A third-party site won't be able to give you accurate data. A Realtor can go through the numbers and tell you what to expect from the market.
Before you figure out where you’re going to get your valuation from, you have to ask yourself why you are getting it. If it’s purely for informational purposes, any automated system will satisfy that curiosity. They are typically within 5% to 15% of your home’s value. A rough estimate, if you will.
However, if you want something more that you can use to determine a potential sale or refinance, you want to get in touch with a professional Realtor. A third-party site won't be able to give you accurate data. A Realtor can go through the numbers and tell you what to expect from the market.
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If you just want a rough estimate,
any online tool will do.
any online tool will do.
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If you’re thinking about refinancing, a Realtor can help determine if it’s the right move. Any refinance will require an appraisal, so the Realtor can look at your home’s current value and determine what it will appraise for.
A good Realtor can look at the latest market numbers to determine your optimal price. In this case, they aren’t looking at what the home will appraise for; they are looking at what the market will pay for it in today’s environment. It’s based on what homes have sold for, what homes are under contract, and what homes are currently on the market.
If you feel like you need more than just an automated estimate, reach out to a local professional. If you have any questions for us or would like our assistance, don’t hesitate to give us a call or send us an email. We would love to help you out.
A good Realtor can look at the latest market numbers to determine your optimal price. In this case, they aren’t looking at what the home will appraise for; they are looking at what the market will pay for it in today’s environment. It’s based on what homes have sold for, what homes are under contract, and what homes are currently on the market.
If you feel like you need more than just an automated estimate, reach out to a local professional. If you have any questions for us or would like our assistance, don’t hesitate to give us a call or send us an email. We would love to help you out.
