Home Value Estimators and Accuracy – What is your Home Really Worth?

Your home is your castle and one of life’s biggest investments. As with any investment, monitoring its value is incredibly important. Values can plummet or skyrocket based upon a multitude of factors that that may or may not have anything to do with the home itself. Do you want to make a lot of money on your investment? Are you prepared to move fast in order to preserve your bottom line? Then keep an eye on your home’s value. It’s important.

Getting an accurate valuation on your home was once very difficult. Online sources used data from Comparative Market Analysis (CMA) reports in order to give quick estimates on your home’s value. These figures compare homes that are close to the same square footage and amenities that are sold in one area in order to come up with a home value. However, they don’t take into account the condition of any of the homes recently sold, the specific data surrounding the neighborhood where the client lives or a number of other factors.

Based upon results from free online home value estimates, homeowners start making tentative plans to sell their properties. They estimate how much they have left on their mortgages and what interest rates competing banks are offering. They go to a real estate agent with financial goals and a soft plan in mind only to find out that their initial estimate was off the mark. It puts them right back at square one.

The problem is CMA’s is that, in an ever-changing market, ballpark figures just won’t work anymore. Outside influences are very powerful and affect markets every day. New developments being built, roads going in, employers move in or out of town, etc. can raise or lower your home’s value within days, but online estimators don’t reflect those circumstantial changes.

The House Value Store tells us that the true way to get an accurate home value estimate is to compare as much data as possible. Enrich the limited information used to form CMA’s with a multitude of other factors to come up with a home value that makes sense. After all, estimates are useless if they aren’t accurate.

When dealing with the low-inventory markets in California, it is especially important to take supply and demand into consideration. How many homes are on the local market? What are their amenities and how do they compare to other homes on the market? How homes have recently sold in the area in the last 30, 60, and 90 days? If the market is flooding with inactive listings, values could be lower. If the market is active, values are higher.

When providing you with free home value estimates, The House Value Store uses a wide array of information in order to determine your home’s true worth. When accuracy is vital to making plans that affect your life, get the best, most accurate quotes you can. Estimate your home’s value the right way today.

I write about real estate industry and working with house value store company.