Check out my latest Sonoma County Real Estate Market Trends Report with Trends at a Glance, Prices & Sales data, and Market Report commentary.
IN THIS ISSUE
How Much is Your Home Worth?
Home estimate sites are a dime a dozen. The problem with all internet home estimate sites is they are limited by the quality of their algorithm and the data used.
Most of them use county sales records, while some of them add in Multiple Listing data. If you’re in a non-disclosure state, well, you are out of luck.
The major problem with all automated home estimate sites is they are limited to the data on hand. Typically, that includes only square footage, number of beds and baths, recent sales prices and assessor tax values.
What is not included are location nuances such as is the property on a quiet street or next to a main thoroughfare. Did the owners remove that cheap carpeting and replace it with hardwood floors? Were the appliances replaced with high-end hardware? Granite countertops or tile?
The list goes on.
There are three ways to get an accurate estimate of your homes worth.
Hire an appraiser. That costs money and they will be conservative.
Have a local REALTOR® come by to look at your property. A local REALTOR® will be familiar with your community, what’s sold, the condition of the property, what’s for sale and how desirable the property and community are in today’s market.
The third way is to do it yourself. You’ve probably lived in the neighborhood for years and visited with your neighbors so you know what has been done to the homes. Plus, with our Recent Sales & Listings module, available on our on-line Market Trends Report, you can keep track of the activity going on in your neighborhood.
You can access that tool at: http://kylabrooke.rereport.com
Remember, in the final analysis, your home is worth what you and a ready, willing and able buyer decide it’s worth.