Automated Valuation or NOVA Realtor® To Price Your Home?

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.

Belmont Bay Sale CJ Realty Group Belmont Bay Sales CJ Realty Group.
As you think about selling your home in the Northern Virginia area this year remember the automated valuation systems are fun to play with but they are NOT the way to make a pricing decision.

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.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge