MA Automated Home Valuation Websites Reliability

You may come across automated home valuation websites when searching for property information online. As a home buyer or home seller, you may end up comparing the results to the marketing price of a property. It is extremely critical that you fully understand how they work before doing so.

How Automated Home Estimates are Determined

Automated home valuation websites often extract facts from public sources. This includes basic information such as square footage, bedrooms, and home age. Information is entered into a database and run against particular formulas to compute the value of a house.

Public Record Limitations

Unfortunately, publicly available information is not often comprehensive. Many times the information can be really old. It may not incorporate any improvements. Also, it does not list items that may directly influence property values, such as the quality of appliances and fixtures.

Reliability of Automated Home Valuation Websites

Given that the information used by automated home valuation websites is limited, it will naturally be prone to error. Most websites disclose a margin of error somewhere. Keep in mind, the realized error could be much more for some houses.

Why You Should Not Rely on Automated Home Valuation Websites

As a home seller or buyer, solely referring to automated home valuation websites could be a huge mistake. When selling real estate, you may set the wrong starting price and waste valuable time. As a buyer, you could upset a seller and miss out on your dream home by coming in too low on price. An accurate price range requires an experienced professional reviewing comprehensive information from more than one source and comparing a home to similar sold listings. This is where your real estate professional comes in. When pricing a home to sell quickly, he/she can provide a report that returns a particular price range. On the buying side, your agent can advise you on a fair price that gives you the best chance of success, especially in multiple offer scenarios. Keep the MA automated home valuation websites reliability above in mind when browsing the web and consult with a local real estate agent for the most accurate information.

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About Chris Graves

I grew up in Massachusetts, spent the majority of my young adult life in Boston, and own a home in Windham NH. I have owned properties in MA and NH. I specialize in mortgage lending in Massachusetts and New Hampshire and my company does have the ability to lend in other states. I graduated from the University of Massachusetts in Amherst Massachusetts in 2002. I have a Bachelor’s in Science. In addition to managing a team of loan officers my personal loan production is always in the top of the entire of company. I have personally been in the mortgage business for over 13 years. I pride myself with taking my clients from application to close in the smoothest and quickest way possible, while keeping them well informed during the entire process. I originate my own loans from start to finish and work hand in hand with my loan processors & underwriters to make sure I am updated to the minute with all of my files. I stay up to date with lending guidelines and speak with underwriters on a daily basis to ensure I am aware of all of the lending guidelines in place.

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