Online Home Estimates - Is Zillow or Redfin Better?
Since everybody seems to be staring at their smartphones these days, it seems natural to consult this magic wizard when you want to find out what your home is worth. There are dozens of sites that will give you an estimate and two of the largest, Redfin and Zillow make it very easy to see an estimated value just by plugging in your address.
But which one is to be believed? Well...neither one!
You see, The problem with these computer generated estimates is that they don’t take the individual characteristics of each home into consideration. They can only base their numbers on things like comparable square footage, lot size, age, recent sales, active listings and other quantifiable factors but they really can’t see into your home to really know what’s going on inside.
These online estimates can't take into consideration important factors like the actual condition of the home. They can’t tell the neighborhood condition, the actual number of people living in the house next door, the number of cars parked overnight, the amount of street noise, overhead air traffic, or the smell from a nearby fast food restaurant. These estimates won't take into consideration any upgrades that owners have done. Is the kitchen old and dated? Are the carpets worn, have windows been upgraded to dual pane? Is the landscaping in need of replacement? Is the water heater original or the furnace defective? In reality, these estimates are not very accurate at all.
So how do find out what you home is really worth? Well, you already know what I’m going to say!
Ask a local realtor for a home valuation. When you do this, several important factors immediately come into play; These professionals are local experts! They know the neighborhoods and communities. They know the inventory and have likely been in several homes similar to yours so their comparative information is spot on. They have “been in the business” working with buyers and sellers every day and have a pulse for what is happening in your neck of the woods. And it won’t cost you a thing for this information.
Even more importantly, a local real estate professional will visit your home and take the time to find out from you all the important details about your home. You can talk about how you recently added new hardwood flooring, added solar electric, remodeled the bathrooms with the most current fixtures, counters and finishes, added all new kitchen appliances and recently replaced the roof. Things that no online “Zestimate” can ever come close to evaluating because they just don’t know.
By the way, I just did a recent video on how Zillow “Over-Zestimated” the value of a home by One Million Dollars. The house is worth about $1.1 Million yet the estimated price was $2.2 Million. Wow!
So, get with the local expert when you want a true home valuation and save your battery life for important things like playing Candy Crush and checking your Facebook page!
If you’d like a free home valuation just reach out and we’ll connect.
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