You’ll find many online resources offering an immediate estimation of how much your home may be worth, but nothing compares to the expert’s opinion. Get a reliable appraisal of your property’s value.
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Have you ever wondered why most of the internet sites that provide an “instant home valuation” such as Zillow or Trulia are typically off by 20% to 40%? The simple reason is that a computer analysis of home values can only take into account tax data, a trailing indicator.
In an appreciating market, a trailing indicator will always put a home’s price too low. Why? These types of reports depend upon tax records. When a home is sold, the sale does not work its way into the tax data for as long as nine months after the sale.
The real knowledge and understanding within a CMA are primarily due to the experience and expertise of a local real estate professional. Internet valuations are typically “quantitative” only. They take into account only numbers. The value of a Blair Owens Group Realtor is that their analysis is both quantitative using much fresher sales data than tax data, but more importantly, it is primarily qualitative.
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