Learn How to Find the Value of a Home with These Tips
Are you planning to sell a house soon? If so, you’ll need to know how to find the value of a home in Knoxville, Tennessee, before you get started. But where can you find this information? You could easily check online on popular sites like Zillow. However, these sites typically aren’t accurate.
At Your Home Sold Guaranteed Realty – Kings of Real Estate Team, we believe in educating home sellers to make the most informed decisions possible. In this post, we’ll break down the best way to find the value of your home.
What’s the Best Way to Find Out How Much a Home is Worth?
If you’re wondering how to find the value of a home, working with a real estate expert to have your home professionally appraised is ultimately the best way to go. An appraiser will take into account similar homes recently sold and currently listed in the area to determine the value of yours.
They’ll also look at its size, overall condition, and any upgrades or additions you’ve added to it over the years. Appraisers also look at the location, both the immediate neighborhood and the surrounding community, and whether it has any desirable qualities like nearby greenspaces or high-quality schools.
But if you want an estimate of what your home in Knoxville, Tennessee, is worth before hiring an appraiser, starting online is not a bad idea. However, you should look for a home evaluation tool that is specifically tailored to your local area.
At Your Home Sold Guaranteed Realty – Kings of Real Estate Team, we’ve created our own home evaluation tool designed for Knoxville, Chattanooga, Sevierville, and the surrounding area.
All you need to do is provide your address and a brief description of your home. Then, our unique system will conduct a thorough comparative market analysis by searching our database for similar homes listed or sold in your area.
Using this current market data, we can estimate what your home might sell for if you decide to list it in the current market.
To try out our free home evaluation tool.
Why Should You Avoid Online Home Evaluation Tools?
So, why should you avoid online tools like Zillow Zestimates to find out how much your home is worth?
Overall, Zillow Zestimates is a highly inaccurate method of finding out the value of your home. In fact, estimates are off by as much as 10 to 20 percent.
This is because Zillow Zestimates doesn’t have the same specialized data as other tools specifically designed for a certain area. The accuracy of Zestimates depends on properties listed on the MLS.
But it can’t take into account off-market homes the same way a professional real estate agent or appraiser can. Off-market homes can greatly impact your home’s value, so it’s important to factor in that data during your research.
In addition, Zillow Zestimates doesn’t consider recent upgrades or additions you’ve made to your home. If you’ve added particular features to the house in the time you’ve lived in it, this can add to your home’s value.
It’s also impossible for the algorithm to tell whether the home is furnished or unfurnished at the time of sale and whether you’ve added things like new floors, new appliances, or fresh paint.
Overall, Zestimates and other popular online home evaluation tools can give you a decent base value for your home’s worth. But their estimate likely won’t reflect the actual value of your home because they can’t take into account unique features or localized market data.
We Can Help You Figure Out How to Find the Value of a Home
Working with an experienced real estate agent is the best way to find out the value of your home. At Your Home Sold Guaranteed Realty – Kings of Real Estate Team, we have the experience necessary to help you determine a competitive price for your home in Knoxville, Tennessee.
In addition, we offer several unique seller’s guarantees to help protect you during the home selling process.
To learn more about how to find the value of a home, or about working with our team, give us a call at 865-830-3908 or fill out the form below for more information.