Most of the popular real estate websites have home valuation tools that can be interesting and fun to interact with. In the matter of a few seconds, we can find our home online, and see how our home’s value is changing from month-to-month.
But usually these online valuations are a gross approximation of the market, not a true reflection of it.
Take this Madison area property, for instance. According to one popular website, this home’s market value increased by almost $140,000 in a single day. This happened because the home was listed for sale on May 1st at a price that was much higher than the website’s estimated value. So when the home hit the market, the website automatically updated its value based on the list price of the home.
This is just one small example of why you should always tap into the insights of a trusted realtor before relying on online estimates. Let us know when you need our help.
