How Much Is Your Home Worth, Really?

Northern Virginia Real Estate Podcast with Mike and Melana Wilson

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Today we are going to be talking about how you can get the most accurate valuation for your home. We get questions all the time from potential sellers about what their home is worth. Today we are going to explain exactly how to find out for yourself. There are really two ways that you can get your home’s value, the automated way and the professional way.

The automated way involves using a website like Zillow, Trulia, or one of the thousands of other automated home value websites. They rely on algorithms and easily gathered data to come up with their figures, and don’t take into account the specific features and benefits of your home, while relying on a ton of assumptions. These estimations vary wildly; we have seen them as much as 50% off the true value of a property. It’s okay for someone who is just curious, but if you’re thinking about buying or selling, it’s probably not the best route.

If you are serious about selling your home, especially in the near future, the professional version is the much more accurate way to do it. This method involves using a licensed REALTOR®, who can incorporate a lot of different data from your home, including actual condition, and compare it to other homes that have sold in the area. The level of expertise from a licensed REALTOR® crunching the numbers helps increase the accuracy of your home valuation dramatically. Having an on-site assessment is best, because only then can they truly get an accurate picture of your home’s value.

I hope this topic was helpful to you. If you have any questions for us, or are looking for an expert opinion on your home’s value, we’ve got you covered. Just give us a call or send us an email. We look forward to speaking with you soon!