What's my Home Worth

So, you’re asking how much is my home worth in Philadelphia? Read on… 

Why Get An Home Valuation From You When I Can Go to Redfin or Get a Zillow Zestimate? 

We are Realtors and we work in Philadelphia and the surrounding counties. We see tons of homes and see what prices they sell at and what price to price them out to get top value. With out local expertise and our knowledge of market trends we are able to get you an accurate home valuation. Zillow, Trulia, Redfin and most online sites give you a home valuation by using an Algorithm. These algorithms do not factor in interior condition, upgrades, and other factors that can make your home value higher or lower.

A Real Estate Agent that works in your local area will always be able to give you a more accurate valuation than an Algorithm.

Zillow itself does not claim that it’s Zestimates are accurate. Zillow.com states “The Zestimate’s accurancy depends on location and the availability of data in an area”. They go on to say that your real estate agent will physically inspect the home and take into account special features, location and market conditions.

Sites like Redfin who also uses an Algorithm approach alters their home estimates to be different that Zillow’s Zestimates and between the two home sellers are at a loss of what their home is actually worth.

How Off Are These Estimates?

It varies from home to home but the amounts can be substantial. The main factor in these estimates is comparing similar sized homes in the same area. While this gives a good start to an accurate estimate, it falls short by not being able to include other factors.

With a Real Estate Agent such as Brett Rosenthal and the team at Revolve Philly Group at COMPASS, we go inside the particular property to get you a meaningful valuation that Zillow.com cannot do. An Algorithm is a start, but it’s far from the entire picture when it comes to a home value estimate.

Zillow knows that their algorithm doesn’t really work. In fact, they launched a contest where they awarded one million dollars to the person who could improve their home value algorithm. We understand why people go to Zillow.com for a home estimate. People in today’s society want quick answers and a Zestimate is instant, but when it comes to pricing your home for sale, it is crucial to get it right.

We have an instant tool on our site as well. If you want quick, use it. However if you want an accurate valuation, enter your email address below and we will get you an accurate valuation and if in turn you decide to sell your home, it will help you get top value for it.

So Why A Realtor?

As we mentioned above, an algorithm just cannot price your home effectively. Realtors in your area see tons of homes and know what homes are worth. No two homes are alike despite what they may look like from the outside. Here are some factors that we use to price your home

1. The location. We first look to see what homes in your immediate area are selling for. In Philadelphia, simply driving two blocks away can change the price that homes are getting. As your neighborhood becomes more desirable to live in, prices rise.

2. Unique Features of your home. Zillow doesn’t know most of the things you did inside your home since owning it. We would come in and see these features or upgrades and value the home accordingly.

3. Home Inventory in your area. Home inventory is low in most areas right now. If inventory is low in your area, your value will be up. Sometimes this happens so fast that Zillow can’t update it in time and in turn you may be losing money when you sell. We are able to determine if inventory is low and thus make your value higher.

4. Home Condition – The home that sold next door to yours that looked identical may have deserved less money that what we value yours at. The condition of yours may be superior to another home and the better the condition the higher the valuation.

Computers are great, but nothing beats a human being that is an expert in selling homes in your area. It makes a huge difference!

Our Pricing Strategy:

Our goal is to price your home so that when it sells you get the highest amount. Does this mean that we list it for the highest amount possible? No. Homes that are on the market for shorter periods of time have been proven to sell for higher amounts. Some sellers want to shoot for the stars by pricing their homes well over the amount that we value it at. It can work, however most of the time the home doesn’t sell and stays on the market too long. The longer the home is on the market, the lower the price it generally sells for.

We will come in and set a price for you that will allow it to sell fast and give it the possibility of creating a bidding war which will drive the price up. We know you don’t want to price your home too low, but pricing it too high doesn’t work. Our team will come up with a smart and realistic number that will get you the highest amount.

We are able to tell you what your home is worth anywhere in the Greater Philadelphia area. Whether you want to know What your Main Line home is worth or what your Center City Philadelphia home is worth, we have you covered.

Conclusion:

While a Zillow Zestimate may be good for getting an idea of a home’s value, it is not always the most accurate. In order to get the best price for your home, you should work with a Real Estate Agent who can help you strategize and price your home correctly. Our team at Revolve Philly Group at COMPASS knows how to price homes competitively in today’s market and will work hard to get you the best price for your property. Contact us today to learn more about our services!