Unless you’re living under a rock, we are all familiar with our home’s Zillow Zestimate (as well as all the other houses on your street)…but what about the “actual” value of your house? Casey and Callie will talk you through the buzz words you may hear and how Farmhouse can help you understand what your house may actually list and/or sell for.
Your real estate agent establishes true market value. It refers to the value a buyer is willing to pay for the property. When figuring out your home’s value, you might be tempted to see what popular real estate sites like Zillow, Redfin, and Trulia have to say. When you use an online calculator to determine your home’s value on these sites, it is just an estimate. It’s not an actual appraisal or the “true market value.” These sites all have their own algorithms for coming up with their estimates. For example, Zillow comes up with its “Zestimates” by calculating “public and user-submitted data, taking into account special features, location, and market conditions.”
These online estimates can be a great starting point for opening up the conversation with your real estate agent about your home’s worth. But even Zillow recommends that you use a real estate agent for coming up with the actual market value of your home. The site says that once you get your “Zestimate,” you should still get “a comparative market analysis from a real estate agent.” Having an agent involved in this process is essential due to the fact that we understand the market better than a computer ever could. Maybe you are wondering what the value of your home is today, or questioning if it’s better to sell now, in a month, or further in the future. You might simply want to know if renovating your property is the smartest financial move, or if your current project will hold a return for you. If you fit any of these scenarios or one we’ve left out, the Farmhouse Team would love to meet with you and give you a comparative market analysis specific to your home. Reach out to us today to set up an appointment!