What is Homes.com Home Values?
How does Homes.com come up with the Home Values?
My Home Value is off. Can I change it?
How can I find my home’s actual value?
What other information can I find through Homes.com’s Home Values?
Can I use my Home Value to get a loan?
Is my Home Value the same as an appraisal or assessment? Can I use it in place of an appraisal?
Why do I see home values for the past?
How accurate is the Home Value?
Who calculates the Home Values and how is it done?
The Homes.com Home Value, provided by SmartZip Analytics, is an automatically generated estimate of a home’s fair market value based on a number of factors including historical home price trends, recently sold comparable homes and tax assessments in the home’s neighborhood. It is intended to be a starting point in determining a home’s value and does not take into account all aspects of the home’s special features, location or current market conditions. Because of these and other factors that determine a home’s value, the actual value may be lower or higher. The Home Value merely provides an estimate. A real estate professional can provide you with an actual home value as well as advice on increasing a home’s value and general real estate market assistance.
How does Homes.com come up with the Home Values?
The Home Values are generated by SmartZip Analytics’ proprietary automated valuation models that consider millions of data points on historical and recent home sales in your neighborhood, tax assessments, demographics and other factors. All of this information comes from public records.
My Home Value is off. Can I change it?
You can’t change your Home Value, but you can add to the listing to ensure that your home is represented as accurately as possible in the listing. If you are the homeowner, you can edit your home facts and suggest a different value by clicking the Edit Details link.
How can I find my home’s actual value?
There are a few ways to find the actual value of your home. A real estate professional can give you a Comparative Market Analysis (CMA), and an appraiser can give you an appraisal, both of which require a physical inspection of the home.
What other information can I find through Homes.com’s Home Values?
The Homes.com Home Values offers a wealth of information about the area in which you are searching, including demographics, population, lifestyle and employment. You can also find details about the property you are viewing, like estimated value over time, last sold date and price and a mortgage estimate, as well as information about other properties and home sales in the area. All of this information is intended to provide a larger context in which to view the property and the Home Value we have come up with for it.
Remember, the properties you are viewing aren’t just a dollar sign, they are homes! A lot of other factors should go into determining a home’s value, not least of which what the neighborhood, lifestyle, history and home are worth to you. For more information about a home’s value, contact a real estate professional.
Can I use my Home Value to get a loan?
No. Your Home Value is merely an estimate and it is unofficial. To get a loan, you will need an appraisal from a professional appraiser. The Home Value is just a starting point for your personal purposes and to help you discover more about the real estate market.
SmartZip Score is a relative rating of a property’s investment potential for buyers purchasing the home to live in it. It is based on a risk-adjusted financial assessment of the property’s projected appreciation and expenses over a 10-year holding period. SmartZip Score uses a scale of 1-100, and all properties nationwide are stack-ranked such that 50 is the national average. Properties that score above 50 are expected to outperform the market while those that score below 50 are expected to underperform. SmartZip Score applies proven stock and bond analytics to a comprehensive set of real estate investment attributes spanning economic, housing, government, community, demographic and lifestyle data. More information can be found at www.smartzip.com.
Is my Home Value the same as an appraisal or assessment? Can I use it in place of an appraisal?
No. Your Home Value is merely an estimate and it is unofficial. To get a loan, you will need an appraisal from a professional appraiser. The Home Value is just a starting point for your personal purposes and to help you discover more about the real estate market.
Why do I see home values for the past?
The Home Value history gives you an idea how market conditions are affecting the price of your home and some insight into how your home value is trending.
How accurate is the Home Value?
While the Home Value feature is new, we have done extensive testing and benchmarking to ensure that the automated values are as accurate as possible. We will continue to test and tune our techniques to ensure that we provide you with the most accurate estimate possible of your home’s market value. We always welcome your feedback.
Who calculates the Home Values and how is it done?
The Home Values are generated by a formula that compiles millions of data points on recent home sales and your area, tax assessments and other factors. All of this information comes from public records.
[...] For more information about how Homes.com’s Home Values channel is serving real estate professionals and consumers, check out the FAQ page. [...]
Re: 6400 Hillmead RD, Bethesda, MD 20817
You project a $400,000 drop in value over a few months. Why?
Hi Carl,
The Home Values are generated by SmartZip Analytics’ proprietary automated valuation models that consider millions of data points on historical and recent home sales in your neighborhood, tax assessments, demographics and other factors. All of this information comes from public records.
I hope this helps answer your question.
My property @9311 e 45 th n Belaire Kansas is improperly listed in many ways including 2 bathrooms not 1, and located in Wichita, not BelAire
Hi Tony, All of the information is from historical and recent home sales in your neighborhood, tax assessments, demographics and other factors. All of this information comes from public records. I would suggest going through the process of claiming your home on the homes values section and updating the incorrect information. I apologize for the errors!! Have a great day!