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Tag Archives: Home Equity

Why You Shouldn’t Use Automatic Home Estimators to Price Your Home

Key Takeaways:

  • Automatic home estimator tools are popular amongst homeowners and sellers, but they aren’t always the most reliable.
  • In some instances, these estimators can be off by thousands of dollars due to inaccurate data.
  • If you’re looking for a better way to determine your home’s market value, give us a call at 734-761-3060 to get started!

Exposing the Inaccuracies of Automatic Home Estimators

If you own a home, you’ve probably wondered how much its value has increased since you first moved in. And while using an online estimator might seem convenient, you could end up with some pretty inaccurate numbers—and that’s bad news for sellers in today’s competitive market.

Want to make the most of your equity and find out how much your home is really worth? Here’s why working with a local real estate agent will always be better than trusting an “automatic” estimate.

Most estimators rely on user-reported data or algorithms

Home value on a laptop

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The Truth About Homeowner Equity

What is the Truth About Homeowner Equity?

Which Road to Choose, What is the Truth?
A recent article from a reputable news source was titled: Here’s why some homeowners still can’t sell. In the opening bullets of the article, the author claimed, “Negative equity is one of the main reasons why there are so few homes for sale.”  The article then goes on to soften that stance, but we want to bring better clarity to the equity situation.

A recent report from CoreLogic (which was quoted in the article) revealed that over 80% of all homes now have “significant equity,” which means the home has over 20% equity. That level of equity allows the homeowner to sell their home if they so desire. (There was no reference to significant equity in the article.) Continue reading