Thursday, 23 November 2017

The Ultimate Guide To Your Home Value Estimate

Written by Posted On Friday, 07 March 2014 21:52

One of the best tools when it comes time to sell your home is an online home value estimate. You might be asking yourself, what exactly is an online value estimator and how does it work? Let’s break it down.

Online home estimates use Automated Valuation Models or AVMs to determine the true value of a property based on its features and comparable homes in the area. At First Team we’ve developed our own state-of-the-art property valuation engine powered by the same technology used by major lenders, mortgage servicers and investment bankers nationwide.

By giving you the tools to accurately determine how much your home is worth, the First Team Home Value Estimate helps home sellers prepare for and succeed in their home sale.

Home Seller Benefits

The First Team Home Value Estimate is made to help home sellers recognize the true value of their home. Simply input your address into the First Team home estimate and you will see an approximate value, estimated range and full comparables report of similar homes and their sold prices. We utilize a number of algorithms to calculate your home’s value including appraisal emulation, neighborhood specific comparable’s and time adjustments’.

Figuring out the value of your home is a crucial first step in the home sale process because it helps set in place your entire selling strategy and plan. Knowing the home’s true value will help you decide whether you’d like to sell your home as is or renovate and remodel to increase its value. It will set a budget for the next home you can buy. It will also give you a realistic range when it comes time to list your home and set your asking price.

Another benefit of First Team’s home estimate is to help sellers decide when it’s the right time to sell. Sometimes a move is set in motion because of a life change like job relocation but sometimes selling is a financially strategic move. Finding out the value of your home lets you know if relocating could put money in your pocket and lead you onto new and better things. It can also indicate when a move isn’t such a good idea for your financial future.

Even home buyers can benefit from checking home values. If you are interested in a home, it’s important to know the market value of the property so you know what price is appropriate if you’re interested in making an offer.

What the estimate doesn’t tell you

Online home value estimates are a great jumping off point. They give you an initial picture of what your home is worth based on comparables and helps you get a clear picture of what your home sale will be.

However no algorithm can beat the expertise and intimate market and industry knowledge of an agent. The computer doesn’t know some very important factors that affect price like the condition of your home itself. Recent remodels, curb appeal, additions on a home and upgrades all effect the final selling price of your home. Also, real live agents can pick up on market trends must faster than the algorithm as well.

If you’re in the market to sell your home and would like to find out the most accurate value and price for it, then hire an appraiser or contact us at First Team Real Estate. With tools like our home value estimator and hyper local in-depth market knowledge, a First Team agent is the most important asset you need to sell your home for top dollar. Call or email us and we’ll connect you with a top agent in your area.

Email us at clientservices [at]

Call us at 888-870-1142

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First Team Real Estate® is the largest independent brokerage in Southern California and voted the #1 Real Estate Company by the OC Register's Best of Orange County in 2011, 2012, and 2013

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