My house is worth $1,023,003! I saw it on the Internet!
Some mandatory reading for those folks who rely on on-line valuations for an idea of what their home may be worth. There just aren't any available to the public that do a good job. And, Patricia Kennedy does a great job of showing you why:
I woke up to some very exciting news!
There it was in my email inbox - a message from Redfin telling me that my house was worth a whopping $1,023,003! This is amazing! Why, I just sold a wonderful detached brick Colonial a few blocks away for not much more than this, and it had a whole lot more space and was quite nicely renovated.
So I clicked for more information. And oh wait! There seems to be a bit of confusion!
They think that my house is a 3000 square foot condo! They are showing "similar" properties that are either new construction or high-end renovations in a chic and trendy neighborhood a mile or so away - all of them condos. And look at the picture they say is where I live. This isn't my house! It's somebody's garage. I live in a 100-year old Wardman style row house that is neither chic nor trendy, and certainly not a condo!
And sadly, my house is not even close to the million dollar mark.
I think this email was designed to get me to share a lot of personal information by filling out an online questionnaire - or to pick up the phone and call the smiling Redfin agent on the page where this photo appeared.
If you are relying on information and data that you see online, you could be in for a rude shock when you step out from behind your computer or tablet and begin a serious investigation of your own market. And while the price valuation information that Redfin has on my house is way off, there are some sites that are even worse.
As a real estate professional, I can look at this type of solicitation and know that it is not what it seems. I know all of the recent comparable sales in my neighborhood and have the expertise to know the actual value of my home. And when it comes time for you to make a move, you need this same professional expertise to help you establish the value of the property you are selling or purchasing.
If you are planning a move to or from Washington, DC, I can help. Please call or text me at 202-549-5167.
To search for your next home in the DC Metropolitan Area, Click Here
Comments(17)