One of the issues many real estate agents complain about is the online valuations many buyers and sellers find, be it Zillow or Trulia or elsewhere. However, our job as a real estate expert is to help with the interpretation of the reams of data buyers and sellers are finding online today.
The internet is a great tool, but sometimes, it gives you too many results for a search term and the answers are overwhelming. Also, you may have to dig down many pages to find the best answer, not always is what is on the first results page the best information.
This video from YouTube is a great explanation of the accuracy of Zillow's Zestimates. I hope it helps you understand that working with your agent and this information helps you find the best value for a home you may be considering buying or selling.
I actually use a nine step process that includes Zillow's Zestimates, as well as eight other data points which include Government data on house sales, tax assessment ratios, comparable sold data and comparable homes for sale at the same time, price per square foot, my own personal opinion on value both from the exterior of the home and the interior. We see many homes a week, and have a very good idea of a homes value in our area. Sometimes a value can change from one street to another, let alone between one county or township. There are so many variables we take into account, such as age, type of heating, updated baths and kitchens for example that a valuecan be very different from one home to another.
Watch the video, and let me know what you think. If you need help analyzing your homes value along the Main Line please call me at 610-203-4543 or email me at Nick@VandekarTeam.com.
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