What's your home really worth?

What's your home really worth?

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Home Valuation

Avoid the Biggest Mistake Homeowners Make

If you're planning to sell your home (whether it's in DC, Maryland, or Virginia), you may be tempted to get a quick value estimate from a national real estate website, such as Zillow. Unfortunately, many homeowners who are selling their homes trust this value, which is often inaccurate.
In this article about Zestimates' inaccuracies, the LA Times reported that Zillow's Zestimates have a median error rate of 8%. On a $1,000,000 home, that's $80,000! Relying on home value estimates may mean losing thousands of dollars of your hard-earned equity. You can avoid this home selling mistake by requesting an accurate evaluation of your property, called a "comparative market analysis," from a local real estate agent.

What is a Comparative Market Analysis?

Real estate agents use a comparative market analysis (CMA) to determine the price for a homeowner's property. A comparative market analysis often takes into account information from recent sales of similar properties, neighborhood sold reports, and recent home improvements.

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