Question:
“Which website do you recommend to find out a home’s value?”
Answer:
Two types of websites purport to tell you your home value online: 1) automated; 2) agent/referral.
Automated sites use complex but flawed software to calculate values. However the values they tell you are typically far from correct. This is due to incomplete/inaccurate info about the home and algorithms that can’t correctly evaluate how various factors (location, condition, amenities, etc.) impact value. Determining home values is both art and science. Forget the art–these sites don’t even have the science part down.
Agent/Referral sites are run either by agents or by firms that sell your personal information to agents. The agents contact you to discuss your home value and try to convince you to hire them to sell your home. It’s no different than just calling a real estate office.
Conclusion: You can’t get a decent estimate of your home value online.
Twenty years from now I may regret saying this (if I even remember), but I don’t think a computer will ever be able to take the place of a human on this one.
