Let’s face it we love to peek at websites that provide us with nice pictures of homes and some of those sites provide home owners with an “automated” property value. I don’t have to name the big one you know who it is.
However those systems have never set foot inside a home. They don’t know whether it has a kitchen from 1980 or one from 2008. They have no idea whether it has Polybutylene pipe or a drainage ditch in the backyard. All they have is an algorithm that runs behind the scenes looking at tax records and sold data to come up with a guess at what a Northern Virginia home is worth.
In some cases the automated value is above market value but for a homeowner who relies on the automated value they could also being losing thousands of dollars. Here is a snapshot from two properties we listed and sold in the Belmont Bay neighborhood in Woodbridge VA in 2013 (click photo to enlarge.) In both cases the owners would have lost a significant amount of money had they listed their properties at the automated value.
You need to call a local Realtor®, we’d love it to be CJ Realty Group, to help you make the right decision about pricing your home for sale.