Both home sellers and home buyers who are thinking about entering the real estate market need to be familiar with the value of homes in the area. When home sellers want to list their houses on the market, they need to know the value so that they can sell it for the highest price possible. Home buyers need to know values so that they can have an asking price expectation walking into an open house.
It can be a challenge to determine these home values and make sure that the number you find is accurate. That is why it is important to work with a realtor who can provide you the experienced assistance you need and ensure you have accurate home value numbers. At Your Home Sold Guaranteed Realty Elite - The Augustine Team, our real estate team works diligently to get you the most accurate figures. We’ll help you understand the difference between professional appraisals, online home valuation tools like ours, and a HouseSigma estimate.
When focusing on the value of homes, you will want to know if the HouseSigma home values in Grimsby (figures you can find easily) are higher or lower than you are expecting. The HouseSigma estimates can be highly inaccurate, so it is vital that you are aware of this common inaccuracy and have alternatives for determining home values in the Grimsby area.
The HouseSigma Estimate Explained
First, let us define what exactly the HouseSigma estimate is. Basically, HouseSigma uses a proprietary algorithm in their home valuation tool to determine an estimated value for your home. This should not be considered a professional appraisal, but it can be a great starting point for you. If you are planning a move as a home buyer or seller, you can utilize the HouseSigma estimate to begin your proces?s.
What Factors Are Considered By Online Tools
There are many factors that get incorporated into the HouseSigma estimate, even though it is not a professional appraisal. To determine an approximate value for a home, HouseSigma will include:
- Essential home details
- Square footage
- Location of the home
- Number of bedrooms/bathrooms
- Data from the real estate market
- Listing price
- Descriptions of the homes
- Comparable homes in the area
- Days on the market
- Tax assessments
- Prior sales
- Publicly available records
- Seasonally changing demands
If the information used in the algorithm is accurate, then home buyers and home sellers can feel confident that the value they have received is fairly accurate as well.
How Accurate Is a HouseSigma Estimate?
HouseSigma does not publicly declare its accuracy rates like other online house estimators. However, to improve the accuracy of the estimate, the algorithm needs as much publicly available information as possible about the home and location. When a city does not have a good deal of publicly available information, the HouseSigma estimate may lose its accuracy. Furthermore, it cannot predict the future value, recent remodeling and renovations and the selling skill of a realtor.
Are HouseSigma Home Values in Grimsby Higher or Lower than Home Sale Prices?
The HouseSigma home values in Grimsby may be higher or lower than you expect due to the unpredictable nature of the housing market as well as how long you have lived in your home. A recent sale of the house could result in a higher estimate than you expected while a home sale from many years ago may lead to a lower estimate. This is because of the data that the algorithm will be using.
In general, the estimation of home values on a national scale are within a 2.5% margin of error unless it is an off-market home. Off-market homes do not have publicly available information, so this makes it difficult for the algorithm to determine a home value estimate.
If you want to make sure that HouseSigma home values in Grimsby are accurate, it is vital to include as many details as possible. This should include renovations, major repairs, and additions. You should also make sure that the property tax history and sales dates are up-to-date, and be sure your local tax assessor is updated too.
Get an Accurate Home Values in Grimsby with Our Realtors
Are you considering getting into the real estate market as a home buyer or seller? If so, you should be working with a real estate team who always has your best interests in mind and can help you understand all aspects of the market, including the accuracy of HouseSigma estimates. At Your Home Sold Guaranteed Realty Elite - The Augustine Team, our realtors can do all of that and more for you.
We know that buying or selling a home can be difficult, and we strive to make sure you have the best and easiest experience possible. To find out how accurate HouseSigma home values in Grimsby can be or to get started on your real estate journey, give us a Call or TextUs at (289) 235-8000 or fill out the form on this page with the requested information. One of our skilled realtors will send you a detailed response.