Clever's concierge team can help you compare local agents and negotiate better rates. Clever's concierge team can help you compare local agents and find the best expert for your search. Zillow is the number one website where many home buyers and sellers alike turn to. It's one of the biggest and most popular sites out there and it's very easy to use.
Zillow's Zestimate tool is updated daily, based on millions of public and user-submitted data points. To get a Zestimate for your home, all you have to do is enter some basic information. You can also use Zillow's property database to look up why similar homes are being sold in your area. Trulia is another popular site and is set up similar to Zillow, but it gives you the estimate in a slightly different way.
After entering your Trulia address, it gives you the average sales price of similar homes in your area. Trulia also lists all the standard details about the homes, including lot size, square feet, and number of beds and bathrooms. Redfin Estimate offers a quick and easy tool for homeowners to get a quote. On Redfin, you can enter details about any property, learn about the neighborhood, view property taxes, valuations, and more.
Redfin is also a broker that uses up-to-date data from the Multiple Listing Service (MLS), making it one of the most accurate home valuation websites out there. Internet home estimation tools are incredibly useful, but even the best websites will tell you that estimates of your home value are just estimates. These estimates are based on available data and assumptions about other comparable sales in the area. Sometimes they're accurate, but sometimes they're not.
A comparative market analysis (CMA) will give you much more detailed and accurate information than even the best home value estimation website. To conduct a CMA, an experienced real estate agent will do more than just look at your address and the number of bedrooms and bathrooms, they will perform a detailed analysis of all the different factors that can affect the home valuation. Zillow offers much more to the consumer than the Zestimate look. Viewers can become so obsessed with the Zestimate that they overlook the wealth of other information on the website, including comparable sales and neighborhood demographics.
All of this can be invaluable to any first-time homebuyer or seller in a real estate transaction. You can ask an agent for a CMA without having to commit to using that agent to sell your home. It's different and often lower than the fair market value of your home, which is why your home could sell on the market. He actively writes about real estate topics, such as buying and selling homes, how-to guides for the home, and recommendations for household products.
If the home value estimator says the home is worth much less than the list price, you may be able to negotiate more aggressively with sellers. If you're trying to sell in a slow market, take any online home value estimator with a grain of salt. Getting an exact home value is one of the most important steps in selling your home and, in some cases, buying a home. Some of the most common reasons a homeowner would use a home value estimation site are when selling or buying a home, considering a loan, or refinancing.
In addition, the neighborhood's average listing price, sale price, and number of days properties stayed on the market are displayed above the sales prices of neighborhoods adjacent to the property you are viewing. Every seller wants to get the best price for their home, and an accurate CMA should be one of the first steps you should take when selling your home. That means that estimates for half of all homes on the market with estimates from Zilliow or Redfin are within about 2% of the sale price. If you live in a hot seller market, where your home is likely to sell quickly and ask for too much anyway, renovations may not make much difference in terms of attracting buyers.
And individual estimates can be well above or below what a home actually quotes and ultimately sells. A rapidly appreciating housing market, where homes sell in a matter of days, adds even more uncertainty, Rao said. After all, if you buy a home, you're likely to keep the property for many years before selling it again. .