Home Valuation vs Expert Opinion
An Automated Valuation Model, AVM, is a computer approach that looks at public records to make a determination based on square footage, comparable sales and other elements. It is as easy as putting your address in a blank but unfortunately, AVM results may only be accurate about 20% of the time.
Find Your Home Value
A popular AVM, Zestimate®, states “It is considered a starting point at determining a home’s value.” While an AVM contains some of the same information as a comparable market analysis, it lacks a critical human factor.
Having a pair of experienced eyes consider aspects that are not easily quantified can make a big difference. A skilled professional can tell which properties are truly comparable. A knowledgeable expert can recognize features, floor plans and other things that can affect value but are difficult to quantify. The most important factor is neighborhood knowledge of individual performing the home evaluation, and the quantity and quality of this process. Prices can vary greatly depending upon the schools, other business around the property, over all number of homes on the current market, number of homes in pending status.
These things are important to determine the future value of the property, even if that future a month or six months from the time of valuation. Even if a person isn’t ready to sell their investment, they like to know its value. It is easy to find the price of stocks or mutual funds on any given day but the value of a home is more difficult. An expert opinion is valuable, to avoid the lengthy time on the market, to get the highest and best price and to sell the property in a reasonably quick time. Global and discreet knowledge of this process is very important, and it demands experience.
Regardless of whether you’re just curious as to how much your home is worth or are ready to monetize your equity, I’m available to give you that information without obligation. If you’re not ready now, just keep the letter for when you are.