What is my Home Worth? The Truth About Internet Home Estimates

With the internet playing such a large part in the real estate market these days, it is important to understand the accuracy of the data provided by vendors such as Zillow and Trulia. Take a look at this interesting video from the Wall Street Journal that provides a frame of reference for home value estimates online. Estimates can be as much as 20% – 50% off given gentrification of a neighborhood or upgrades owners have made that don’t factor into the complicated algorithms these websites use to assign a value to a home. While nationally, the median error rate for Zillow is 7.9%, its important to note that these are called estimates for a reason and a consultation with a real estate professional or a property appraisal specialist is necessary to get an accurate assessment of your homes value.

Video: Wall Street Journal – The Fuzzy Math of Home Values

Tips for Hiring a Contractor

With the deluge of out of work contractors, there may be many offering their services to you that may not be as skilled as you might think in your specific project area. Here is a helpful article from the Mercury News today on how to effectively weed through contractors when remodeling or improving your home to find the best person for the job.

If you are unsure where to start with referrals, feel free to contact me today to locate construction specialists in your area.