What’s My Home Value?
If you are wondering what your home is worth, it may be tempting to put your address into Google and see what the websites say. After all, you can look up how your stocks, check your bank account, and even see how your 401K is doing all with a few clicks of the mouse. Depending on where the home is located can affect pricing. Although websites and apps do provide rough estimates of home values, there are complex factors that cannot be taken into account by computer algorithms. The value of your home is based on:
Where it Is Located
Location affects the price.
How it Compares to Local Properties
Recently sold properties tell volumes in terms of market value.
Buyer Demand
Buyer interest and excitement in your property.
Market Sentiment
Market confidence and outlook
Although location is fairly black and white, the other three variables are not. Only a human expert can evaluate how these factors affect the market value of your home.
For example, what if your home has a view of Lake Union, but your neighbor’s view is blocked by trees? What if your neighbor’s home was just replaced with two townhouses? What if you recently upgraded your appliances? What if your condo just underwent an assessment and had the roof replaced? A computer can’t take adequately such factors into consideration when calculating a market estimate.
In order to really determine the market value of your property, you need a pricing expert. Let’s get started!