The internet said your house is worth WHAT?

By
Real Estate Agent with RE/MAX Stars Realty

Automated home value systems are all over the internet these days and there are a lot of homeowners who have been misinformed about the value of their home because of these types of automated systems. If you were to enter your home street address into the 5 most popular automated value model websites I would bet that the difference in value that these websites predict would vary by more than 10% from the lowest to the highest. We have seen some of the estimated values have a 30% difference between the highest and the lowest estimates especially in zip codes 43028 and at the Apple Valley lake in Knox County Ohio. The bottom line is that these websites aren't something you should count when it comes to determinting what your home would sell for in the current housing market.

Most of the AVM type websites have a goal to get you to register so that they can capture your name, your property address and email address so that they can market to you. Another thing that many of the automated value type websites have in common is that they are pulling their data from public records and some fairly common real estate databases. However, the majority of these estimates do not take into consideration any updates that you have made to your home and they don't take into account unique lot features, special views, house designs, the quality of construction and I could go on and on because they aren't going inside your home or the homes they are using as comparables to establish the automated value on your home.

If you are interested in actually knowing what your Knox County Ohio home would sell for in the current housing market, give us a call or send us a private message and we would be happy to do the research, meet with you, look at your home and provide a detailed written estimate for you so that you so that you have a solid idea what your home would likely sell for today. Call The Sam Miller Team of REMAX Stars Realty 740-397-7800 SamMillerSells.com

 

Comments (4)

Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Good point. In my area, we are a non-disclosure state, so the online estimates are not even based on sales prices, because those are not available. Call a local agent!

Dec 04, 2022 06:11 PM
Sam Miller

Thanks Kat for commenting and I agree - Call your local real estate expert - Sam 

Dec 04, 2022 06:31 PM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

So many people follow the wrong path and believe that they are doing things the right way only to fall flat on there face, haha.

Dec 05, 2022 05:24 AM
Sam Miller

Brian, That is so true.

Dec 05, 2022 03:19 PM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

This is an excellent post with great information. Thanks for sharing it.

Have a super fantastic week!
Joe Jackson, Realtor-KWCP

Dec 05, 2022 06:18 AM
Sam Miller

Thanks Joe!  I checked out your blog and it looks like you have had a super fantistic 2022 - Sam 

Dec 05, 2022 03:19 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Great post for the public to understand, unless a REALTOR does the valuation, it could be WAY off.   

Dec 05, 2022 06:40 AM
Sam Miller

Thanks Joan!  I hope more and more people start to realize that computer software or AVM websites aren't able to provide real world home valuations the way an experienced real estate agent can - Sam 

Dec 05, 2022 03:21 PM