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I have had a lot of people tell me how shocked they were at the published values of their homes. Some saw that their homes were worth more than they thought, but some were also far lower than what they had expected. So, should you use these values to determine a sale price for your home?
These websites attempt to make data derived from public records more accessible, and they use property taxes to evaluate the worth of your home. They also find ways to become members of MLS services, so they can find accurate values for homes. Once they have both of these pieces of data, they apply their own algorithms to determine a value for your home.
Sometimes the results are accurate, but a lot of the time they are wildly inaccurate. These algorithms don't take into account comparable properties or updates made to the homes that would otherwise improve the value. Subjective information like curb appeal and the interior design is not factored in, and this is why valuations should only be used as tools, not as measuring sticks for a selling price.
Your best approach is to come to your local Realtor and ask for a comparative market analysis. This will result in the most accurate home price, because Realtors use updated market data, whereas websites like Trulia and Zillow only update their data every week or so. Real estate moves quickly, so old data cannot be used to determine an accurate price.
So, if you're trying to sell your home in Southern California, it's important that you consult with your local Realtor to determine an attractive home price that will get buyers to pay top dollar for your home.
Please don't hesitate to contact me, I'm always happy to help you!
