Here’s why you can’t trust everything online home estimates tell you.
We hate to break it to you, but online home estimate services aren’t accurate. We know they’re convenient, but today we want to discuss why they aren’t the best way to find out your home’s worth.
Don’t get us wrong; we aren’t saying they’re overvaluing your home. In fact, they may be undervaluing it. This is because they lump your home in with homes in a general area. If you live next to a neighborhood with smaller, older homes, online estimates will tell you your value is smaller than it truly is.
Similarly, if you own a four-bedroom house, and your neighbor just sold a four-bedroom house that’s half the size, online estimates will tell you that you can only get what your neighbor got.
At the end of the day, the best way to find the market value of your home is to compare it to similar homes that have sold in your area, and algorithms just aren’t good at this. If you want to find out your home’s true value, give us a call or shoot us an email. We’d love to help!