Answers to Your Questions about Online Charlotte Real Estate Valuations
Recently, I’ve 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.
Yes, those online estimates are not passed on feet on the ground knowledge. There are so many variables that make up the accurate value of the home.
Jane Peters recently posted..The Taste: Los Angeles Labor Day Food and Wine Event – September 2 – 5, 2011
Exactly! Having someone local who knows the market and can share with you what the competition is like, is far more accurate than any online comps you can find.