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What is your property worth?? That is the big question. To find out the answer, where do you go?
Most people go to the internet and look up Zillow and Trulia, Redfin, Realtor.com and on and on. They type in their address give up their e-mail information and in seconds get a full blown analysis of the value of their property. It’s just that easy, or is it. If it were that easy we wouldn’t need Realtors or Appraisers, whatever number pops up we would live with it. What Zillow, Trulia and the others are doing is what’s called Automated Value Modeling. They are taking sold properties in the area and lumping the sales numbers together and spitting out an average $$ per ft and applying it to your property. Are they correct? About 70% of the time. What they are really after is capturing your information to sell to a mortgage broker or realtor so you can be deluged with all sorts of crap you didn’t ask for or don’t want. That’s how they make money. Their analysis doesn’t see your property at all and they know nothing about your area, NOTHING. They don’t care if you have solid gold fixtures or back up to a major freeway. Their information isn’t always correct because they are not the source of the information, your Realtor is. Do they care if the property they show for sale was sold 6 weeks ago? NO THEY DON’T. They care about capturing your information to sell to someone else, that’s all.
So back to the question who knows what your home is worth? Well you may say if the answer isn’t on the internet then it must be with my Realtor, Nope. OK then the Appraiser surely knows, after all they are telling the lenders how much to lend based on their analysis, nope wrong again. It’s simpler then you think. The answer is the Buyer. Whatever someone is willing to pay for your house is what it’s worth. Realtors and Appraisers can give you the closest idea or range of what your home is valued at, but if no one is willing to pay for it, it’s just not worth that price.
Remember real estate is local, forget what you read in the newspapers or hear on TV.  What is happening in your neighborhood is what matters.
If you want to find out what is happening in your neck of the woods, just e-me at Valdini.Real.estate@gmail.com


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