WEB SEARCH VALUES ARE NOT RELIABLE
Sorry, but you can’t find out the true value of your home just by typing your address into a website. We firmly believe a value attained from a simple web search is most likely inaccurate, and for all intent and purposes completely unreliable.
These are the reasons why:
- Web companies have never been in your home and don’t know the following
- How many rooms and bathrooms you have. Is it a 10 room or 5 room house?
- If you have modern or older kitchens and bathrooms
- If the basement is finished or unfinished
- What features such as finished attics, fireplaces, central air conditioning, granite counters, or other customizations there are
- They typically don’t know the size of your house
- The little information they may have might be outdated
- Values from a web search are not based on any valuation methods approved by any governing body or authoritative entity. They are based on a combination of neighborhood averages, computer metrics, and guesstimates
- Web search values and procedures are not regulated by any authority
- Values from a web search cannot be used in legal proceedings. If you need a value for a divorce settlement, estate settlement, or bankruptcy, these values are inadmissible in a court of law.
- If you need a value for a mortgage, home equity line of credit, or PMI removal, these values cannot be used. Lenders are required by law to use an appraisal prepared by a licensed appraiser.
An appraisal report prepared by a licensed NJ home appraiser can also be a great tool for marketing your home, whether you are selling on your own or when dealing with a realtor. A New Jersey home appraisal can be shown to prospective buyers to show the property is worth what you are asking for it.