Home search sites all across the web are now offering you some type of home valuation. Zillow® allows you to claim your home using your address, plug in some extra data and then presents you with a value. It’s quick, it is pretty easy, but does it really represent an accurate value of your home?
Places like Zillow® use an Automated Valuation Model (AVM) which is a complicated algorithm that uses public records and Zillow sales records to render you a value. You are able to adjust square footage, bedrooms, baths, porches, fences and a few other items. But your rendered value is based heavily on the records inside the program.
Using the AVM will give you a quick ballpark figure but it can’t identify what makes your home unique and what features you have that will add or detract from your value. Are you within walking distance to schools or shopping? Or is your home across from a commercial zoned property?
By consulting a Realtor® professional, you will get someone who knows your area and what represent the current local market conditions.
If you were going to dinner would you consult SteakAVM.com to find out what a steak is worth in your area? You might get an accurate value based on cut of meat and any sides that come with it but will it tell you about taste, quality, service, cleanliness, atmosphere or convenience? Would you present the waiter with your Steak AVM.com printout to negotiate a lower price?
As stated above, an AVM is a quick and dirty tool that gives you a great ballpark figure but to really get a good value, you should consult with your Realtor®. An experienced, well-trained professional is far more likely to assess all of the variables more accurately.
Need to sell? Let’s make an appointment for a FREE Comparative Market Analysis of your home. With my experience in the Fairfax homes for sale market, I can give you an accurate value based on your home and not by averaging the listings on Zillow®.