Plymouth, Canton, Novi & Northville Real Estate

What Your Plymouth Canton Home is Really Worth

There are so many property valuation websites out there that want to tell you what your home is worth. Are they accurate? Is there a great wizard behind the curtain controlling the numbers? Where do those numbers come from anyway? These are questions you should ask yourself when looking at your home’s value on a website, even if it is a well known, well marketed one! Here are a few reasons why these assessments should only be taken as an estimate.

• Concessions. Many home sales include concessions, which is additional money given to the buyer at the time of closing. This may be to cover large repairs to be made after closing, help with closing costs, and a wide variety of things. The only place this amount is recorded is in the MLS and property valuation sites may not have access to that information. A concession actually brings down the final price a buyer paid for a home that your home may be compared to.
• Rentals. It is now common for property listing websites to include rentals. Is this website just a giant calculator that takes sold prices, averages them, and divides by the square footage? $1500 is a much smaller number than $150,000 and can make a big difference in the equation.
• Foreclosures and Short Sales. Almost every single neighborhood has had a foreclosure or short sale in the past year. A property valuation website does not take those into account, it just looks at numbers. One low selling foreclosure can really bring down prices for a whole neighborhood when just looking at numbers.
• Improperly Entered Numbers. So many errors are made when entering home information into the MLS, property websites, etc. like the wrong square footage, number of bedrooms, or finished basement. These omissions or typos can reduce the calculated value of your home.
• Recent Improvements. Did you just remodel your kitchen or bathroom? Build an addition? Add new carpeting and paint? A website does not recognize this, nor add the appropriate value to your home.

A property valuation website is a quick and fun way to get an idea of what your Novi or Northville home may be worth. But if you are seriously considering selling, it’s crucial that you consult with a Realtor. Your Realtor should be an expert in your particular area and know the nuances of a neighborhood and your home to find the true value. Here at The Kime Group, we specialize in selling Wayne and Oakland County real estate and can determine the exact value of your home, using your home’s features, comparable sales in your neighborhood, time of year, demand for homes, and more. We’ve been selling properties, including new construction, for more than 15 years and can get your Plymouth Canton home sold for the most amount of money in the shortest period of time. Give us a call at 734-446-5744 or email at Greg@TheKimeGroup.com to get your own CMA today and get on the way to getting your home SOLD!