What Is the Value of My Home

What is the value of my home ? This question is asked of Realtors all the time.  The quick answer is that you won’t find an accurate price for your home on the Internet.  The value of your home must be determined; it cannot be assigned through a website. The analysis requires a skilled and experienced agent to make an on-site inspection, and research other data through the real estate industry’s resources for accurate and current information to best describe the value. Features such as views, remodeling, and floor plan are not taken into consideration on the Internet; they must be considered when determining the value of a home. If you fill out the form below and provide your email address, you will not be approached by an agent, but simply emailed the information along with supporting documentation. If you would like an on-site inspection, please let us know.

This section is for the purpose of giving you a ballpark, generic estimate of what your home may be worth. It is in no way to construe the actual value of your house. Websites searches are designed to give ideas of valuation pursuant to lot size and square footage and relative to recent sales in the area. These valuations are in no way accurate. You may have made a lot of upgrades to your home and therefore the home may be worth more.

You deserve to reap the benefits of the efforts you have made. You may have spent a fortune on landscaping, remodeling your kitchen, or updating your bathroom. You may have vaulted your ceiling and installed skylights, or you may have added landscaping, limestone, and granite counters. Your home may have a spectacular view, ambience, and charm, or perhaps it is located at the end of a prime cul-de-sac, which these websites know nothing about.

You deserve an on-site inspection of your home; don’t settle for an estimate from a computer. It will never do your home justice. Please allow me to do justice to the value of your home and provide a free-of-charge, no obligation on-site inspection.

Why Zestimates and Other Online Analysis Are Flawed

Only a few short years ago, some very intelligent people developed websites, respectively Zillow and Red Fin, where consumers can go online to evaluate the value of their property.  A new technology that was openly embraced by the public for it’s simplicity! Both Zillow and Red Fin allow the consumer to search their property online and receive an appraisal for free. (And I’m not limiting my argument with these two sites exclusively). It would be an amazing system if it was truly flawless! Unfortunately, however, there are many problems associated with these and similar websites.

On the surface let me say that I believe these sites have some value as a gauge of value for most consumers. But no one at these companies has inspected the property and all that Zillow has to work with is a satellite photo, the square footage of the dwelling and the square footage of the land. The value concept is to compare these criteria against other similar properties within a geographic proximity. It all makes sense until you consider the facts.

First of all, on the positive side, properties with a view have substantially more value than those without. A view can have a whole range of value from simply a tree top view, to a spectacular city light view, to even an ocean view. Sometimes the property can be on the same street but it may have no view at all, or another with a very simple view, or yet another with a spectacular view.

Other such factors that would add value to a property that are not taken into consideration by Zillow are a prime location: a cul-de-sac street, landscaping, a brand new granite kitchen, curb appeal, seclusion and privacy, whether a room is sunny, bright and airy, a good functional floor plan with rooms that are comfortably laid out and nicely proportioned. These are all factors that a buyer takes very much into consideration. Each of these features would add significant value to a property; however features such as these cannot be evaluated online.

Now, consider the downside. What if a property is located on a major street or near a major intersection? Traffic can impact value in a negative way. A property may be located next to a freeway. Factors such as noise and pollution will negate the value of a property and in some instances, very significantly. A property may have a good sized lot but because of way the house is positioned on the lot, there may be little usable backyard. This would affect the value of the property, particularly for people with children or need a good sized backyard.

Lack of privacy can adversely affect value. If the property next door is a fixer, or if the neighboring property has been neglected and is in need of major work, certainly those are factors that impact value. If there is a lack of privacy because of a large building next door or a big second story addition with windows looking down into the yard, buyers would sometimes shy away from this property in some cases, which of course ultimately affects value.

If the home is dated or dark or lacks appeal, such things as cottage cheese ceilings and aluminum sliding windows and old, dated fixtures and appliances will all affect value negatively. Consider such floor plan flaws as tandem bedrooms or a tandem family room, suggesting that one must walk through one room to enter another. If a property lacks curb appeal, or the quality of construction is poor, or the property lacks overall charm, buyers will shy away.

What if the property is on a major thoroughfare or if there is a bus stop in front or a school yard next door or a commercial building across the street, or if there is an alley in the back full of graffiti? These are all factors that cannot be gauged by an online appraisal.

I am not at all suggesting that websites such as Zillow or Red Fin are worthless, but please do not be overly influenced. When it comes to assessing value, you need the professional opinion of either a licensed appraiser or an experienced Realtor® who knows the market in your particular area. Doing so will help you answer the question; What is the value of my home.

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