On-line Home Value Estimates
You're really going to throw your lot in
with that magic number?
I understand the attraction of getting an estimate on your home in a snap. It's easy and requires no effort. I get it. But how can someone who has never seen your home give you an accurate assessment of the value? There are so many factors that influence value that these estimates
can
NOT
possibly include.
- How about that killer view? How is that asset valued by an online assessment?
-How about one of the main driving forces of value- interior condition? How do online estimates know that you have a lovely upgraded interior?
-How about the countless other factors that determine value in Center City condominiums, such as:
*Which direction your condo faces (over the dumpster and into a brick wall? Some condos in fact do)
* Amenities you have that other units in your building do not
(Maybe you have a balcony, or higher ceilings, or a fireplace)
* Maybe you have two car parking AND a purchased storage area that others in your building do not have
Brownstone styled condos are even harder to assess in my opinion. Some have detailing and some do not. Some have parking and some do not. Some have roof decks and some do not.
See what I mean?
So please be careful when you base the value of your condo on the wisdom of a third party who has never seen your condo and is perhaps just taking an average of similar sales in your
general area.
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