Answers to Your Questions about Online Charlotte Real Estate Valuations
I’ve recently 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.
(THE best Charlotte home search available - no kidding!)
Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310
Debe - It's amazing that people think a computer program can give them an accurate estimate without even measuring the house, or seeing the condition. Here in Nashville, most of these estimates are off by at least 10 percent and some as much as 20 percent.
Hi Debe. I agree with you. Sounds like Zillow to me! Anyway, I enjoyed reading your blog post. Thanks for taking the time to post it.
Well put Terri Poehler. Just don't understand how can a computer software give you the value of your home without knowing whether you have made improvements or upgrades to the house.
What I don't understand is why agents put those forms on their own websites. It's bad enough that people can go to Zillow to be misled.
Debe - these are frequently asked questions. Thanks for providing very adequate replies. I appreciate the detail.
Hi Debe. There's nothing more valuable that having an agent give their personal Home Values Reports to those potential sellers, who plan to list their homes. Great job on explaining those computer generated CMAs.
Great answers here Debe. I just wish that some people wouldn't believe everything they read on the Internet as gospel.
Debe these are questions asked by consumers all over the country and your answers were spot on.
By the way glad, you liked the NY apple facts.
Debe - the best estimates don't replace the local area experts (like you).
WDebe, thanks for a concise, easy to understand answer to this frequent question. Your clients are fortunate to benefit from your vast expertise.