Redfin, Trulia, Zillow… these sites are very useful when you’re on the hunt for a new home. They can help you choose a neighborhood or give your agent an idea of what you’re looking for. You might even get home decorating ideas by browsing images of staged homes.
Real estate sites (often called third-party sites) also offer property values for homes that are not currently on the market. When you’re thinking about selling your Sacramento home, you might be tempted to turn to these estimates. How much has your property appreciated or depreciated since you bought it? Is your home worth more than your next door neighbor’s? These are the questions on your mind when you type your address into Google.
But how accurate are the home value estimates form third-party websites? Let’s dig in.
What Third-Party Estimates Can Do
When you click on a home on a real estate site you’ll probably see a property value estimate. Most third-party sites have a proprietary name for their estimate, and they don’t tell you a whole lot about how they came to the figure. Adding to the confusion, you might see two different home estimates on two different websites.
Here is how third-party estimates are generally calculated:
- The website takes into account the recent sale prices for similar homes in your market.
- The estimate includes any details that have been reported to them about the features of the home (swimming pool, private garage, etc.)
- The history of the home’s value is taken into consideration.
In short, a third-party website can give you a general overview of what your home might be worth. If you’re looking for only a ballpark figure, you may have some luck using these sites to see what the property values are like in your area.
What Third-Party Estimates Can’t Do
As useful as sites like Zillow can be for viewing general trends, they fall short in a lot of areas. When you’re getting serious about selling and you need to know exactly what your property is worth, they’re not the best option. Third-party sites don’t factor in things like:
- Interior upgrades like granite countertops and hardwood floors, which could make your property stand out from other homes in the area.
- Necessary repairs. If your roof is outdated or you have plumbing issues, your home many not actually be worth as much as a third-party site says it is.
- Current projects in the neighborhood, like a new school or park, that may be appealing to homebuyers. Community changes could yield a higher sale price than what a computerized formula will suggest.
The specific condition of your property has a lot to do with your sale price. Alongside the features of your neighborhood and general market trends, any accurate home estimate will look at how your property stands apart — for better or worse. Estimates based on a computer’s formulas are never as nuanced as an in-person assessment!
Getting an In-Person Estimate
If you’re really serious about selling, the best way to determine your home’s value is by having a pro come and take a look. You could hire a real estate agent to come to your home, but that’s not the only way to go. An investor can also look at your Sacramento home and tell you how much you can get if you want to sell fast. An in-person estimate has a few clear advantages:
- The assessor will view everything about your property, from the aesthetic condition to the sounds it makes and the state of your yard.
- You can explain things about your home that could impact the value. For instance, did you add huge picture windows in your living room that increased the natural light and views of evening sunsets?
- You can make a connection with an investor or real estate agent who not only gives you a property value estimate, but helps you sell your Sacramento home fast.
Are you thinking about selling your Sacramento home? One way to sell quickly is by working with an all-cash offer. At California Family Homebuyers, we can do more than give you an accurate assessment of your home’s value in today’s market. We can also make you a cash offer and close fast!
Contact California Family Homebuyers today to learn more about getting a personalized property value assessment and cash offer!