Where Free Appraisal Web Sites Fall Short
The number of web sites that you can visit to find a home’s value is increasing every year.
Because a big part of a real estate agent’s job is determine a fair value for real estate, I find the sites interesting.
None can be completely accurate, however.
Unless a home is new construction, or in a development with identical houses, valuing a home is not that simple. There is a “fuzzy logic” that appraiser and real estate agents use that computer programs just can’t imitate.
Considering size, location, and condition, pricing the home is as much “art” as “science”.
See, there is a myth among home sellers that if the home is priced too high, someone will make an offer for less money.
The truth is, though, is that overpriced homes sit on the market for months with no offers because buyers finds homes that are correctly priced more easily.
Automated valuation tools are a good start, but it takes a human touch to truly determine the value of a home.
