Instant Online Home Value Reports are Crap!

It is impossible to get an instant home value report online that is truly accurate. Sorry if you believe the hype of hundreds of sites out there, but all you can get instantly online is a very general estimate of your home value. That's it. It might be accurate, but more likely it's based off old tax records of what the property sold for 5 years ago. How accurate of a home value is that?

Of course you want an idea of what's your home value is before you make the decision to sell. That's just smart planning. But please, don't expect to be able to get online, fill out a few details on your property and get a 100% accurate “that's what I could sell my home for right now” home value report. It takes more than a few paltry details and a property address to come up with a definite home value. Now you may get a some home comps instantly online, but that's not the same as knowing your true home value. A comp, or 'comparable', is just a collection of recent sales prices of homes with similar characteristics as yours and therefore are most likely (but not necessarily) similar in home value.

As much as people don't want to hear it, it's true: if you want a current comparative market analysis of your home value, you'll have to get in touch with a real estate agent. Sure, you could pay an appraiser to get your home value (which you'd want if you're refinancing or applying for a home equity loan) but why pay for what an agent would do for free, just to get a little face time and hopefully earn your business later on down the line. Give 20 minutes of your time and you'll have not only an accurate home value report, but most likely a few free goodies the agent brought to win you over.
As a former Realtor, Rory Wilfong (co-founder of GetMyHomesValue) was often faced with the task of bringing a homeowner back to reality when it looked like their home value expectations were getting a bit high.

Wilfong makes a list homeowners' unreasonable expectations: “You want the Realtor to give you your home value over the phone, without ever seeing your property. Or you want your home value to be automated online without all the details necessary for a true home value report. And you want your home value to be at least $100,000.00 more than what you were expecting. You want all of this and a cash deal…right??”

In his real estate coaching blog, he goes on to admonish homeowners and ask for a bit of open mindedness when dealing with real estate professionals. “Do me a favor, as a former Realtor and speaking for the nearly 1 million Realtors nationwide….DON’T BE RIDICULOUS!! I have nothing against being optimistic in any situation however, your home value has so many variables that determine value (or lack there of) that it is impossible to do accurately without the visitation of a real estate professional. It is okay to let them into your home….they will not bite! They want to give you what you want…an accurate home value report as opposed to guessing over a phone call or hopping through an online valuation. When you are dealing with the absolute most expensive item in your life, don’t you want to be 100% accurate…at least 100% of the time? Face facts: if you want an accurate home value estimate, especially without paying a dime, you better get in touch with a local real estate agent.”

Find out your own home value and other valuable homeowner information at GetMyHomesValue.com

Ashley Lichty is a webmaster and the resident SEO of Web Xtreme, Inc. She has a background in real estate and marketing with an emphasis in writing.