Are Online Home Valuations Accurate?

Online home valuations are popular because it can give you a quick snapshot of what your home is worth in today's market. Or it can help you see the value of a home you are about to purchase. But how accurate are they? What you need to know is all of these online valuations are based on automated computer modeling drawn from public records. It is not a human looking at your home, accounting for upgrades, neighborhood features, local market demands, and other essential factors. Online home valuations are a good starting point but a word of caution; it is only an estimate. To get an accurate Comparative Market Analysis report (CMA), you should contact your real estate agent.

A CMA will give you much more detailed and accurate information than even the best home value estimate website. To conduct a CMA, a licensed real estate agent will do more than look at your address and number of bedrooms and bathrooms. They will perform a detailed analysis of all the different factors that can affect home valuation.

With that said, I have found a tool that will give you an upfront estimated valuation. The report will load you up with other pertinent information such as the heat map (below) that tells you what areas buyers are most active.

To get a quick estimated valuation of your home click here. For a more detailed CMA contact me today and we will drill down a true value.

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