How Accurate Are 3rd Party Online Home Values?
Home value websites and apps are in abundance today. Of course, as a Real Estate Professional, I enjoy a sneak peek. But, when it comes to obtaining the most accurate reflection of your home's value, a Competitive Market Analysis (CMA) is the best choice.
What is a Competitive Market Analysis (CMA)?
Owner Consultation - Speak with a real estate professional by phone and review your homeowner goals and unique features of the home.
In-Person Visit - Conduct a walk-and-talk of the home.
Review the Competitive Market Analysis - The real estate professional will use their market expertise and in-depth knowledge of your home to provide the most accurate value range.
When it comes to online home value tools, they may come in far lower due to a lack of knowledge of your home improvements and because the formulas weigh heavily on nearby "comparables." Yet, a home's proximity does not mean it is the best reflection of your home's potential value. There may be a need to adjust based on features between the two houses. A Competitive Market Analysis (CMA) accounts for every detail of your home's value.
The reality is that we would not be happy if we just took an average of our peers' income in the workplace, and then this became our income moving forward. The same is true for your home.
Give me a call today (973-433-6845), and I will be happy to get together and provide a complimentary Competitive Market Analysis (CMA).