For many people, especially in central Florida, their biggest financial asset is their home. As a homeowner, there may be many reasons why you would want to know the value of your Orlando home. You may want to know how much equity in the house so you can pull some money out if you want to build a pool. You may want to know if you are still underwater and owe more than your house is worth. Or, you may just be curious and want to know the value of your home. Whatever the reason is, for most Floridians, it is important that they get the most accurate value for their house.
Since it provides a lot of information about the history of the house and the neighborhood, using Zillow has become very popular in Orlando over the last few years. However, when it comes to providing you with an accurate value, Zillow may not be the best resource. Zillow is a computer-based application that takes raw data and just crunches numbers! At times it may be accurate; however, in most instances, it's way off the mark.
One of the main reasons that Zillow is not able to provide the most accurate analysis to your home is because it doesn't have the capability to make the appropriate amount of adjustments when comparing properties. Since Zillow only crunches numbers, it's not going to know what updates a house has compared to another. Without these adjustments, their price could be $100,000 off of what the true value may be.
If you are looking for a more accurate way of understanding the value of your house, you should have a professional REALTOR stop by to help you out. They can come by the house and get a feel for the condition of the property as well as the upgrades. This will then allow them to make the appropriate adjustment on how your house compares to the other comparable properties. This will provide you with a more accurate value of your property then what you would receive from Zillow.
When you have a REALTOR come by to assess the value for you, make sure that you have a REALTOR who has the experience and expertise to do a proper assessment for you. If the agent just shows you what properties have sold nearby and then throws out a number to you with no supporting documentation, we suggest that you get another REALTOR in the central Florida area.
As always, we are here to help you! Please feel free to Contact Us, and I hope that I have helped you get real estate smart.
