Jenn, I’ve noticed that the prices for properties on Zillow.com are so much lower than sale prices and asking prices around here. I’ve always assumed they were simply based on comparables, and constantly updated for actual prices. Is there something we should know when assessing the prices we see on that website?
The websites that provide cost estimates for homes can be a good starting point however I have found that most are not accurate. Keep in mind that no one from these sites that provide the information have ever visited the house nor do they understand the dynamics of particular neighborhoods. I have seen the estimates be accurate and also incorrect by as much as $100,000.00. Some are based on square footage, other are based on comparible information that these sites can obtain.
The most accurate method of understand the true market value of a home are the actual comparables for that home. Utilizing a website is not accurate for this type of information when selling your home or making a decision to purchase a home. Many times buyers rely on the information found on these sites and they are very disgruntled when the Realtor tries to explain to them they simply are not accurate.
Whether selling, purchasing or just being curious about the value of any particular home, contact an experienced Top Realtor in your neighborhood. They can provide you with the information quickly and accurately.
Is it possible to receive the same amount you paid for a property if you only purchased it 6 months ago? I am being relocated for a job and I just purchased my home.
There are many factors that will decide whether or not you are able to regain the purchase price for a home purchased 6 months ago. The market in Phoenixville has remained strong. Here are some ideas that could help you in this type of situation:
Be sure the property shows even better than it did when you purchased it. Stage the property and clean it top to bottom;
Even though we are in the Winter months you still need to have good curb appeal. Colorful pots with evergreens can help as well as making sure the outside of your home is pristine;
Make sure you have corrected any issues that you found during a home inspection that others can find;
I would suggest you contact the Top Realtor in your area and speak to their opinion of market value. Look at the comparables from homes that have sold.
Jennifer Daywalt, Realtor
RE/MAX Results Realty- Collegeville, PA
Licensed in PA
Phoenixville's Home Town Realtor
Top Realtor 2004-2011
Author of "Ask The Realtor" on The Phoenixville Patch
RE Blogger for The Phoenixville Patch
610-489-7355 Main - 610-999-7693 Direct