What’s Up with the Online Home Value Calculators?

When figuring out your home’s value, you might be tempted to see what popular real estate sites like Zillow, Redfin, and Trulia have to say.

When you use an online calculator to determine your home’s value on these sites, remember: it is just an estimate. The number you see is not an actual appraisal or the “true market value.” These sites all have their own algorithms for determining their estimates. Zillow, for example, generates their “Zestimates” by calculating “public and user-submitted data, taking into account special features, location, and market conditions.”

These online estimates can be a great starting point for beginning the conversation with your real estate professional about your home’s worth.

But even Zillow recommends that you use a local professional to determine the actual market value of your home. The site says that once you determine your “Zestimate,” you should still get “a comparative market analysis from a real estate agent.”

Having experienced professionals like Mari Sennott and Associates involved in the process is essential, because we understand the market better than any computer ever could. We’re showing property on Cape Cod all the time, and know the particular preferences of buyers and sellers. Young professionals, large families, empty-nesters, and other potential buyers are all looking for different things in a home. We’ve successfully worked with all of them, so we understand every segment’s particular interests.

So if you’re ready to enter the real estate market or are just thinking about it, we’d be happy to meet with you to discuss your options. Just contact us at 508-568-8191 or via the comment section.

Our favorite real estate cartoon this week…

Happy Spring!

Mari and Hank

Next week: How real estate professionals determine your home’s value. For last week’s segment, please visit http://bit.ly/2JmMqH9





Leave a Reply

Your email address will not be published. Required fields are marked *