Be wary of online home valuation tools

Img

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 view real-time how our home's market value is changing.  

But keep in mind these tools very often are a reaction to, not a prediction of, the market. 

Take this local property, for example. According to one popular online tool, this home's market value increased by almost $140,000 in a single day. This happened because the home was listed for sale in May of 2024 at a price that was much higher than the tool's previous estimated value. So the tool automatically updated its value based on the list price of the home. 

This is just one small example of why you should always ask for a market analysis from a trusted realtor if knowing your home's true market value is important to you. When it comes to pricing your home, there simply is no substitute for the expertise that comes from a professional