Our goal at Recadia is to always deliver what you ask for.
In this case, however, that isn’t possible. We apologize but refuse to deliver “bad” information.
Online home valuation tools are pasted all over the internet today. None of them are accurate. Please don’t be fooled into thinking otherwise. If you rely on them, it could cost you thousands of dollars. They serve only one purpose and that is to turn you into a lead for the company or individual that offer these.
Zillow’s Zestimate may be the most accurate online valuation tool but they still have an average error rate of over 6% per property. That translates to over $24,000 on a $400,000 home. Worse than that, you don’t know if the valuation is high or low, creating a potential $48,000 fluctuation from the true value.
There is just no way any person or algorithm can give you an accurate valuation on your home from only the address.
- Property sales information is not required to be public information in Texas. Some people choose to publicly disclose the “sold” price of properties and some do not. The computer analysis can only pull from what is available but not all pertinent information is there to use.
- Computer algorithms rarely use the proper comparable properties. They use a geographic area around your property but have to expand that area to a large enough space that they get enough comparables. This usually includes properties that shouldn’t be used in determining your home’s value.
- Every house is unique with it’s own special features, flaws, presentation, and aura. All of these considerations go into valuing the home. There is no way to make these determinations with only the information that can be found with only the address.
If you truly need to know the market value of your home, there are three ways to get it.
- Sell it. The highest amount someone is willing to pay for it is the true market value.
- Get it professionally appraised. This will cost you around $350 but will give you an accurate market value.
- Request a CMA from Recadia. It’s free, significantly more accurate than online valuations, and will be delivered to you along with the data used to get the value within 24 hours of your request.