Thinking of hopping online to check out the current value of your home? Not so fast! The data that these automated valuation models use is often inaccurate and unreliable. Hard to argue when they say so themselves! Here are a few quotes from popular price estimator sites describing the lack of accuracy in their own data.
“Zillow does not offer the Zestimate as the basis of any specific real-estate-related financial transaction. Our data sources may be incomplete or incorrect; also, we have not physically inspected a specific home.” (“Is a Zestimate an appraisal?” at zillow.com/zestimate)
“ . . . we recommend you talk to a real estate professional. After all, our algorithms are smart, but we can’t know everything about your home’s features and location.” (Trulia.com/trulia_estimates)
“We’re not suggesting that you use our home value estimate in lieu of an appraisal from a trained professional . . . “ (Homes.com/home-prices)
“For a professional valuation of your home that includes all the information about your property (plus overall condition, style of house, and other features) please contact a real estate expert.” (Housevalues.com/report)
So instead of guessing and navigating the unclear yourself, find a professional. For help with price, negotiations and more, a Spica Real Estate Consultant is your best resource. Click here to contact us!
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