4 Ways to Determine Your Home’s Value

Seattle's I Got Smart Real Estate Podcast with Josh Pemberton

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What methods will help you discover the value of your Seattle home? Ranked from easiest to most difficult, there are four ways to do this.

1. AVM estimates: These are algorithms to estimate a home’s value based on a wide range of data. However, they’re not very accurate. They’re no better than the quality of their data. For example, Zillow is off by as much as 20% about 70% of the time.

2. Comparable Market Analysis or a CMA: This is the most competent, perfected method available. Unlike the AVM, an experienced real estate professional conducts this report.

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Never buy or sell a home
without first receiving a CMA.

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3. You can calculate your own home value: This is challenging because reliable local data is difficult to find. However, you can find information at firms like DataQuest and CoreLogic. However, avoid falling for deceptive websites that call themselves the MLS. Those are broker websites masking themselves as the MLS!

4. Appraisers: They can provide you with a home value. However, 10 different appraisers can come up with 10 different values.

These are four ways to determine your home’s value. Never buy or sell a home without first receiving a CMA and property history!

Are you thinking about buying or selling a Seattle home? Give me a call or send me an email. I can answer any questions you might have about real estate. Talk to you soon!