THE unREAL ESTATE BLOG

So What Is Your Home Worth?

August 10, 2016

 

Everywhere you turn, somebody (meaning us real estate brokers) wants to tell you what your home is worth. And for good reason! You could sell and cash in on your gains. You could refinance and cash in on some equity. Or perhaps you can just get a better idea of what your home is really worth. But you should know a couple things…

 

User error, market trends and property specifics are just a few things to keep in mind when looking at a number. Just take a look at Zillow and you’ll have a pretty good idea of value. But, is all the data Zillow has up to date? Where did they get all that data in the first place? Well, there’s no simple answer. Which is why every valuation (i.e Brokers Price Opinion (BPO) or Comparative Market Analysis (CMA)) should be taken with a grain of salt.

 

So, by all means, take someone up on an offer to value your property. But make sure they’re willing to actually come out and take a look so they can also verify the details. In fact, contact me – I’d be happy to discuss the numbers in person.

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