What is Your Home Valuation?

Your home value is the price a buyer is willing to pay to purchase your home. This is also sometimes referred to as your home’s current market value. Knowing the value of your home will help you determine what your asking price should be when you list it on the market.

The location, school district, the size and layout of your home, comps, current market conditions, and condition of your home all affect its market value. And if you’ have recently had the house painted or bought updated appliances, staging your home for people to go through is extremely important. These things can raise the value as well.  You can receive a more accurate value of your home by speaking with a top Realtor in your local area, not a third-party real estate website. If you are looking to see an accurate and up-to-date evaluation of your home's current value, contact us today. Talk with Kelly Stipa. She is Springer Realty Group's top producer.

What You NEED to Know About Online Tools that Calculate Your Home Value

Although online tools for calculating your home's value are everywhere, they are not always accurate. Many of them use the same process as a human would to assess value -- namely, comps -- and a robot or algorithm is not always as good at picking the best comparable homes as a human would be. (This is why valuation tools like Zillow's Zestimate usually don't capture the actual sales price of a house.)

A robot or algorithm has not seen your house; they have not walked through it to determine whether the flooring, finishes, appliances, and other details are above the market average or below market average, so it is not possible for them to give you a totally accurate value for your house. It's a lot easier to get an accurate online valuation for a cookie-cutter house in a recent development with lots of current sales than it is for a one-of-a-kind property.

The Home Valuation tool provides an estimated market value for your home using data collected from third parties and public records and is intended to provide you with a general value of the property. This is not an official appraised value nor is it the value that Guaranteed Rate, Inc. will rely upon in making a determination of value or in making a lending decision. Guaranteed Rate, Inc. will rely upon the value as provided by a licensed appraiser contracted by the company. 

The actual appraised value of any property may be higher or lower than the estimated market value provided by The Home Valuation tool. All estimations are for informational and educational purposes only, and in no way is any of the data contained herein to be construed as financial, investment or legal advice.

Springer Realty Group does not guarantee the quality, accuracy or completeness of the information provided. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.