Free Market Analysis: Snohomish County

Sellers, I am sure you are very curious to know the value of your home in light of the recent changes in the mortgage industry and how it is effecting the current real estate climate. You probably already have gone to Zillow or HouseValues and now have a automated estimate of your property’s value.

Everything is kosher, right? Well not exactly. For starters the estimates provided by these companies are based on a mathematical algorithm. By giving a percentage weight to a specific piece of the equation, like location is 10% of the total value, a company can generate a value figure. But its biggest success, its online, is also its biggest drawback. An automated system tends to be 13-25% off, either over valuing or under valuing properties, when compared to real time market based on current market prices, sq/ft, bedrooms, bathrooms…etc.

If the automated system is taking is so much home info then why are the estimates inaccurate? Because these automated systems use historical property data, mainly price, to determine the current property value. The real estate market changes to rapidly, either up or down, very quickly and historical information can not reflect current market conditions.

It is also difficult to measure the property’s condition with a 1 to 5 rating scale as well as the condition of the neighborhood. These are two major factors in determining a property’s value. Even though that information can be placed into the mathematical algorithm it is difficult to determine the condition. A property’s condition is contingent on a home inspection and neighborhood is very subjective.

Barnett Associates Real Estate, LLC would like to offer free Market Analysis to Snohomish County residents that encompasses real time information, current property and neighborhood conditions along with the amenities that showcases your home. One of our professional REALTORS® will take the time to talk with you gathering all valuable information.

It is our obligation to the public to provide the most complete and accurate real estate information with no biases and fluff. There are many times when agents will purposely over value a property just to obtain a listing. As a result the property stays on the market and expires. But if a property is priced correct for current market conditions then the property will sell with little to no problem.

Accuracy is what makes the human touch so important. It is awesome to have tools available to get an idea what something is worth but when it comes to real estate nothing beats accuracy. Please contact us if you are interest in a free Market Analysis, please note that this offer extends only to property owners in Snohomish County, Washington.

Related posts:

1. Investors: are you watching property?
2. Snohomish County Real Estate Blog