Why You Shouldn't Trust Online Home Estimate Tools
Are you considering selling your home this year? Well then, chances are you have already done a little bit of research. And, you’ve probably used an online tool that instantly gives you an estimate of what you home is worth. Don’t fall for these estimates! These online estimates are typically very inaccurate when determining the value of your home. In fact, many individuals who have used these online estimate tools find that these online sites, like Zillow, Trulia, Homes.com, Chase.com, etc., overprice their home, leaving them disappointed when they are unable to sell their home for that price. Why are these online estimates so inaccurate? Well, these sites don’t take into account several factors that can dramatically increase or decrease the value of your home. Take a look at the factors here:
Current Condition – While the online estimator tool can determine how old your home is, it cannot determine the current condition of your home. The condition can significantly affect the value of your property. Homes that have been taken care of over the years are worth more than those that have been neglected.
Comparative Market Analysis – The best way to determine your home’s value is to complete a comparative market analysis. In most cases, a REALTOR® will take the time to compare your home to others of the same size and age in your neighborhood that have sold within the last couple of years. This data, found on MLS, is only available to REALTORS® and those within the local real estate industry.
Home Features – Your home’s features can significantly increase or decrease its value. Features like upgraded appliances, light fixtures, type of flooring, and pool or deck all go into determining the value of your home. A REALTOR® will take these features into account, while an online estimator does not have the ability to do so.
Local Developments –What new developments are coming to the area that can affect your home’s value? Your REALTOR®, who specializes in the area you live in, will know this information and use it to evaluate your home. An online estimator has no way of knowing this information and therefore does not have the ability to use it as a factor when determining your home’s value.
In the end, there are only two professionals you should trust to determine the value of your home – an appraiser or an experienced REALTOR® who knows the local market. These professionals will take into account all the factors listed above and more to give you an accurate estimate of your home’s value.
Are you looking for a REALTOR® in the greater Round Rock area? Give me a call. I would be happy to complete a complimentary comparative market analysis on your home.
Blog Archive2019-04-10 15:04:29
Relish the Springtime Weather and Gorgeous Bluebonnets at these Austin-area Patches
4 Tips for Spring Yard Prep in Central Texas
Know Before You Go! Mortgage Prep & Home Affordability
Meet The Ruby Hotel in Downtown Round Rock
America’s Largest Indoor Waterpark Opening in Round Rock in 2020
Cedar Park Development Led by Award-Winning Mueller Team
Kid-friendly Staycations in Austin - just in time for Spring Break!
Round Rock’s Forest Creek Golf Course named No. 8 most improved by Golf Advisor
City Council Approves First Step to a New 1,200 Home Development in Northeast Round Rock
Dog-Friendly Places in Williamson County, TX
Did you buy a home in 2018? Here's everything you need to know about filing your Homestead Exemption in Texas!
Buyer Tips for House Hunting in 2019
Selling in the Winter Months? Here’s How to Maximize Your Home Sale Chances
Williamson County Vote to Review Property Tax Exemption Policy for Residents Over 65 and the Disabled
Selling Your Home in the Winter May Not Be So Bad
Austin-Area Home Sales and Sales Dollar Volume Set October Record
Smoke Alarms Save Lives -- Tips for Setting Up and Using Smoke Alarms
Holiday Fun in Austin, TX
Staging Tips and How to Stage on a Budget
Should I Stage My Home Before Selling?
What is a Multi-Gen or NextGen® Home?
What is an In-Law Suite? Simple: It is a Smart Feature with Endless Possibility
Proposed Cedar Park Mixed-Use Development Indigo Ridge South Could Bring Businesses and Housing for Thousands
American Planning Association Names Historic Downtown Georgetown, TX as a 2018 Great Neighborhood
Click here to see ALL articles.