If you are considering putting your home on the market, and you’re trying to determine your home value, relying on Zillow “Zestimates” or other online valuation tools to provide you with a fair market value for your home, may result in you leaving thousands of dollars on the table. Sites such as realtor.com or Zillow do not take into account things like updates that you’ve made to your home that would significantly increase its value or a change in the property taxes. Zillow can be a great resource as a starting point but, should not serve as a conclusive estimate of valuation and should be followed up by a comparative market analysis (CMA) prepared by a licensed real estate agent or a professional home appraiser. It’s also important to note that automatic valuations such as a Zillow Zestimate are not used by banks or lenders to estimate a property’s value for a mortgage. Only an appraisal from a licensed appraiser can be used for a mortgage.
If you’re ready to start a new and exciting chapter of your life and the sale of your home is a page in that chapter, then contact a Frost Realty professional and request a consultation. We will meet with you either in person or schedule a virtual meeting to discuss the sale of your home and provide a comparative market analysis to help you determine the best pricing strategy for your market!