Frequently Asked Questions
What is an AVM?
Used to estimate home value, AVM’s are algorithms that are computer generated and use historic and public sales data, and trends.
Are AVM’s Accurate?
While AVM’s use strong public and historic data and trends, nationally they are not good representations of a home’s actual value. They have a large margin of error. The values generated by AVM’s are based on automated computer models. They cannot take into account the subtle differences of the local market when trying to value the home.
How do I get a more accurate estimate?
Contacting us for a Comparable Market Analysis (CMA), will give you a more accurate estimate. It goes into a more nuanced understanding of market trends, competing properties, and recent sales in the area.
What is a Comparative Market Analysis (CMA)?
CMA’s are free reports by real estate agents curate to compare your home with similar properties in your neighborhood that have been sold or are also for sale. Understanding that there are certain aspects of a home that will affect its value and marketability, it is good to know what they are and capitalize on it in the best way possible. Market conditions, location, home amenities, and more are what we will do as agents, to help you understand and establish the value of your home.