A home valuation, or also referred to as a property valuation, is a common way of determining the value of your home. This is done by interpreting the current market trends and the use of recently sold properties that are comparable to the subject property. It seems pretty simple to do if you have all the data available to you. Yet, most public records take up to 3 months to become available and that leaves the public with semi out of date information. Real estate professionals have access via databases they use to find the most current status of properties as they are sold. Going a step further the best agents will reach out to properties that have been in contract for an extended period of time to verify if they have been sold and at what price.
Many consumers go to the internet to find out what their home is worth and, most would agree that this is the logical first step. These sites have some limitations since none of them have been in your home. They certainly haven’t been in the homes of your current or recent competing homes. There’s no way for the internet to know how the quality and condition of your property compares with others.
There are advantages of having an agent provide you with a home valuation. An agent will have insight on what you can do to improve the value of your home.