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Hey everyone, thanks for visiting me once again. The topic of discussion today is: "What is the best method for the valuation of my property?"People use lots of different methods to get a valuation of their property. Let's take a look at some of the most common methods that people employ.
Zillow is one of the most popular home search websites on the web, and offers a tool called a "Zestimate" that is supposed to give you an accurate home value. In reality, this estimate is based on data they collect and it's a gross estimate, and not the best way to get a valuation of your property.
Another thing people do is look at assessor's records. Often times, county assessors don't take improvements, updates, or changes into consideration when determining the value of your home, and their assessments can be as much as 30% off.
Hiring an appraiser is the route others choose. An appraiser is going to evaluate the property for you and in many cases, the appraisal is very consistent with your home's market value. However, if there are not any recent comparable sales or if it's an unusual property that varies from the norm, the appraisal may not be as accurate.
For the best and most accurate valuation possible, hire an experienced real estate professional who has their feet on the ground in the area of concern. We recently listed a property that was the only one under $400,000 in the town it was located in. We had to do constant research to determine the value. If the property were determined by an appraisal, it would have come in around $290,000, when the true value is more towards $320,000.
If you have any questions for us, feel free to give us a call or send us an email. We look forward to hearing from you soon!
