A Couple of Pressing Questions Regarding Online Valuations

By
Real Estate Agent with www.AtHomesCharlotte.com | Savvy + Company Real Estate 228209

Answers to Your Questions about Online Charlotte Real Estate Valuations

Online Home Valuations vs. The 'Real' ThingI’ve recently been receiving a lot of questions about the estimated Charlotte real estate values provided by a variety of online sources.   I thought I’d answer a few of the most frequently asked questions that I get today.

Q.  Why is the price you think my home can sell for different than the estimated home values provided by online real estate sources?

A. Because computer programs set those prices.  Here’s how it works in general.  A computer pulls the description of your Charlotte real
estate from public records.   Using that extremely basic information, such as square footage and number of bedrooms and bathrooms, the computer comes up with a price for your home.

Computer programs and national websites, nor their employees personally visit your home or other homes in your neighborhood to distinguish the differences and similarities.  For example, they cannot see that your home has recently been painted and renovated and is in a totally different development than the neighboring one that is on the same street, with the same zip code.

Q.  Are there any circumstances in which those computer generated values are at least fairly accurate?

A.  The estimated home values could be in the ballpark if all the following are true:

  • Your home is in a subdivision in which homes are very similar;
  • Several homes just like yours have sold recently;
  • Homes are not being sold as short sales or going into foreclosure;
  • Your home is newer and has not had a major renovation or addition that is not in the public records.

While it’s fun to go online to see what your neighbor’s home sold for, don’t use that information as the bottom line, denoting what your home could sell for in today’s market.

If you’d like a free, in-person, professional analysis of what your Charlotte real estate could sell for in today’s market, give me a call or email me today.  No obligation, just ‘real’ information.


Read more: http://www.icharlotterealestate.com/answers-to-your-questions-about-online-charlotte-real-estate-valuations/#ixzz1WvJgOOIW

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Terri Poehler 09/04/2011 11:45 PM
  2. Gabe Sanders 09/12/2011 07:12 AM
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Rainmaker
753,321
Larry Brewer
Benchmark Realty LLc - Nashville, TN
Nashville Real Estate

Debe - It's amazing that people think a computer program can give them an accurate estimate without even measuring the house, or seeing the condition. Here in Nashville, most of these estimates are off by at least 10 percent and some as much as 20 percent.

Sep 04, 2011 11:10 PM #1
Rainer
105,474
Rob Magnotta
Huntington Beach, Newport Beach, Seal Beach, Irvine REALTOR - Huntington Beach, CA
Huntington Beach & Newport Beach Coastal Specialist

Hi Debe. I agree with you. Sounds like Zillow to me! Anyway, I enjoyed reading your blog post. Thanks for taking the time to post it.

Sep 04, 2011 11:34 PM #2
Rainmaker
302,492
Terri Poehler
Realtor - Coral Springs, FL
Coral Springs Real Estate Agent
I tell my sellers it's a "guesstimate". Because it's missing the personal touch .
Sep 04, 2011 11:36 PM #3
Rainmaker
728,520
Lanre-"THE REAL ESTATE FARMER" Folayan
Keller Williams Capital Properties-Buy a home in Washington DC. Sell a home in Washington DC - Washington, DC
How much is my Washington DC House Worth?

Well put Terri Poehler. Just don't understand how can a computer software give you the value of your home without knowing whether you have made improvements or upgrades to the house.

Sep 04, 2011 11:42 PM #4
Rainmaker
858,287
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
your real estate writer

What I don't understand is why agents put those forms on their own websites. It's bad enough that people can go to Zillow to be misled.

Sep 05, 2011 01:41 AM #5
Rainmaker
391,266
Larry O'Sullivan
Rocky Mountain Realty, Sandy, UT - Sandy, UT
We get homes sold

Debe - these are frequently asked questions. Thanks for providing very adequate replies. I appreciate the detail.

Sep 05, 2011 07:20 AM #6
Ambassador
792,318
Jerry Newman
Green Home Realty, 210-789-4216,www.Selling-SanAntonioHomes.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Debe. There's nothing more valuable that having an agent give their personal Home Values Reports to those potential sellers, who plan to list their homes. Great job on explaining those computer generated CMAs.

Sep 05, 2011 11:31 AM #7
Rainmaker
2,011,170
Gabe Sanders
the BlueWater Realty team specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Great answers here Debe.  I just wish that some people wouldn't believe everything they read on the Internet as gospel.

Sep 05, 2011 01:00 PM #8
Ambassador
1,463,310
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Debe these are questions asked by consumers all over the country and your answers were spot on.

By the way glad, you liked the NY apple facts.

 

Sep 05, 2011 10:40 PM #9
Rainmaker
495,638
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Debe - the best estimates don't replace the local area experts (like you).

Sep 06, 2011 11:39 PM #10
Rainmaker
397,179
Elva Branson-Lee
Solid Source Realty GA - Atlanta, GA
CDPE - Atlanta Real Estate & Short Sale Agent

WDebe, thanks for a concise, easy to understand answer to this frequent question. Your clients are fortunate to benefit from your vast expertise.

Sep 08, 2011 10:02 PM #11
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Debe Maxwell

Charlotte Homes for Sale - Charlotte Neighborhoods
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