Getting into the real estate market as a home buyer or seller can be a challenging endeavor, especially if you do not have any prior experience or the advice and guidance of a real estate professional. There are plenty of factors to consider throughout the home buying and home selling processes, and one of those factors is the value of homes in the area for the current market. Having accurate information is key to your success.
As a home buyer, you need to know this information so that you have an expectation going into open houses and the search process. Home sellers need to be familiar with home values in the area to be sure that their asking prices are competitive and profitable. Acquiring accurate information related to home values can be difficult unless you are working with an experienced realtor such as ours at Your Home Sold Guaranteed Realty Elite - The Augustine Team.
Our real estate team is here to help you through every step of the real estate process, including getting you accurate home value information. We can also discuss the accuracy of HouseSigma home values in Jordan so that you can utilize that tool with the understanding that they should not be trusted in the same way that professional appraisals can be relied upon. This discussion can help you determine if a home value is higher or lower than expected and whether or not you can trust that estimate. After all, HouseSigma estimates can be highly inaccurate.
HouseSigma Estimate: What Is It?
To begin, let us define what the HouseSigma estimate is and how to properly consider the information you gain from using it. HouseSigma uses a proprietary algorithm to determine an estimated value for your home. It 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. It can be a great asset as you begin your process.
What Factors Help Determine an Accurate HouseSigma Estimate?
When HouseSigma comes up with the estimate, the algorithm incorporates several important factors into the eventual outcome. The accuracy of the estimate depends on the amount of information available to the algorithm. The HouseSigma estimate uses the following factors:
- 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 highly accurate, then the estimate will be as accurate as possible as well. Home buyers and sellers can then use their judgment to figure out if the estimate received is reliable. It is also advisable to seek out a second opinion from a real estate professional or qualified appraiser.
Accuracy of the 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 Jordan Higher or Lower than Home Sale Prices?
Since the housing market is unpredictable, home value estimates can change over the course of time and depending on a variety of specific factors. One factor is the length of time that you have lived in the home. If you have not had a recent sale of the house, then the information will be outdated, and the estimate may not be as accurate as it could be for a sale that just occurred.
HouseSigma home values in Jordan and 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.
To ensure that HouseSigma home values in Jordan 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.
Our Jordan Realtors Get You Accurate Home Values
When you and your family have decided to buy or sell a home, it is essential that you have all the information and tools needed for success before you start your real estate journey. To acquire these resources, you need the help of an experienced realtor such as ours at Your Home Sold Guaranteed Realty Elite - The Augustine Team.
We will give you as much information as possible throughout the process and can help you determine the accuracy of HouseSigma home values in Jordan compared to our valuations. Our team is dedicated to assisting you and making sure you have the best possible real estate experience.
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 Jordan can be or to get started on your real estate journey, give us a call 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.