Why Your Home Has 6 Different Values – And None Are The Same!

Did you know, there are 6 groups of people who will assign value to your home, and ALL of them see your value differently!

 

1) YOU: You know everything about your home. You know about the little repairs you’ve done to make the home better, the blood and sweat you’ve put into making that lawn look nice – even though the grass is stubborn. You know about the battles you’ve won with the HOA, and the memories you’ve made. You give the home the first value

 

2) BUYER: Every buyer is looking for a unique set of features in a home that makes their lives better. The more that the features of your house match their lifestyle – usually the better the value they give it. 

 

3) APPRAISER: The bank appraiser… (see more below)

 

 

3) APPRAISER: The bank appraiser is only interested in cold, hard numbers. If the new buyers default on the loan next year, the bank wants to know that they can make their money back at auction. 

 

4) TAX ASSESSOR: Bases value on the home’s size, exterior, and location. Interior and upgrades are largely irrelevant, and they place more value on additional sheds and buildings. 😒

 

5) ZILLOW: Bases value on the home’s size, location, and comparable sales in the neighborhood. It does not take in to account the home’s condition, nor upgrades. Zestimates in Washington tend to be closer to the actual value because home sale prices in WA are public record and Zillow can use them for their software. Idaho is much less accurate because sale prices are NOT public record in Idaho. (I’ve seen ID Zestimates off base by well over $100k)

 

6) REALTOR: When I value a home, I consider the BUYERS and APPRAISERS. 

      I track what similar Buyers to our target group have paid for similar homes within the last 12 months. I complete a thorough price valuation that I can justify to any appraiser. That way, you can accept an offer without concern that problems might arise later from a ‘low appraisal.’