Home Valuation

Why Knowing The Value Of Your Home Is Important-And Why A Zillow Zestimate Is Not An Accurate Tool.

If you’re using a Zillow Zestimate to get an accurate home valuation, you may get a skewed result, which could then affect your home’s listing price. While Zillow has historically provided relatively accurate estimates based on the year the home was built, the number of bedrooms, square footage, and other quantitative data, they’ve recently changed their algorithm. Even when Zillow was fairly accurate, it still provided only an estimate as opposed to a true valuation done by an appraiser or Comparative Market Analysis. Here’s how to get an accurate home valuation and why relying on Zillow or similar sites is usually a bad idea. Outstanding client service, experienced business practices, and ingenious marketing strategies are what make our team the most trusted team in the area.Outstanding client service, experienced business practices, and ingenious marketing strategies is what makes our team the most trusted team in the area.

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What is a Home Valuation?

A home valuation is just a fancy way of saying what the value of your home is. They are used during real estate transactions such as buy-sell or refinances to ensure homeowners or buyers are not overborrowing for a property. The home is used for collateral in a mortgage, and if the borrower defaults on his or her loan, the lender will sell the home to recoup the money lent to buy it. If the home was overvalued and they lent too much, they could lose money. The home valuation ensures they will be able to recoup costs should the mortgage not be paid in full.

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What is a Zillow Zestimate?

A Zillow Zestimate is an automated home valuation tool and is recommended as a starting point when determining the value of your home. It incorporates user-submitted and public data and takes into account home facts, location, and market conditions. Zestimates are done entirely online, and no representative of Zillow will visit your home to perform an appraisal. Banks and lenders do not use Zillow or similar services to estimate property and instead rely on the expertise of a licensed appraiser. A Zestimate can be off by nearly 5% nearly 40% of the time in some markets, which amounts to around $15,000 on a $300,000 home.

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What is the Main Difference Between a Zillow Zestimate and a Valuation Performed by an Agent?

The main difference between the two is that a Zillow Zestimate is simply an algorithm. You punch in data, and a value pops out. There is no actual human involved who views your home, compares it against others on the market, and produces a detailed report. When an agent conducts a valuation, they are actively involved in the process and create a valuation that is personalized and in-depth.

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Scott H.

Ingrid was a fantastic agent who helped my family buy our first home. From always being available to answer questions to helping us get the best price for our new town home, Ingrid took care of us. Working with her felt like wo...
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Ingrid has deep local knowledge which helps make a more informed purchase. We were able to negotiate a large discount from the initial asking price, in part due to her very strong market knowledge. As a long-term resident of th...
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Ingrid is the best there is in Fairfield County CT. She was patient with our learning curve in finding our first home purchase. We would happily go house hunting and learn the different hidden aspects of what makes a place spec...
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Ingrid was great. She took the time and the interest to find out exactly what I was looking for. She did not waste my time sending me to look at houses that did not suit my needs. She also gave me frank advice about different n...
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Frank C.

My wife and I have known Ingrid for over 30 years. During that time we have purchased, rented, and sold properties using Ingrid. Her expertise in all phases of real estate is unsurpassed. If your looking for an agent that is ca...
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Emily H.

Ingrid Hess is phenomenal. Her situational awareness of the marketplace generated an efficient, two-day, above asking price sale. This was a tremendous relief to my sister and I as we were dealing with the emotions of selling o...
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Meaghan D.

Ingrid was beyond helpful in the process of helping our family find our new home. She truly treated us like her own family. She was extremely patient as we narrowed down our preferences and guided us through the process as an e...
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Johny C.

Ingrid Hess is just great! We moved out of the city last year and she helped us search and find a home in Darien all the while we had the distraction of work travel and a newborn. Ingrid was very patient, mindful of our budget,...
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Justin C.

Ingrid is exceptional. Her first hand knowledge of Fairfield County, and Darien specifically, helped us in our home search tremendously and got us the house we were looking for in a terrific location. In addition, our purchase ...
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Trudy H.

I enthusiastically endorse Real Estate Agent Ingrid Hess. She's a real pro, not only with marketing/sales but she was also invaluable in helping me prepare my home for the market. She even found me contractors to do the work. S...
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Libby S.

Ingrid Hess is a stellar broker and individual. She brokered the sale of our mother's home, always maintaining a vision of not only our mother's best interest but also of the buyers' best interest. By following her expert advic...
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Stephanie E.

Ingrid helped to sell my home a few months ago after I received her name from a friend. I cannot say enough good things about Ingrid. She met us several months before the home went on the market and it was immediately apparent ...
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Susan S.

Ingrid sets the standard by which I measure all realtors. I bought and sold a house through Ingrid. She knows her local market. This means she knows the value of a property, whether you are the buyer or the seller. She is a gre...
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How is a Valuation Performed?

There are two accurate ways to perform home valuations: with a Comparative Market Analysis and an appraisal. ​​​​​​​Here is how the two differ:

Why is a Valuation Important?

Though getting a valuation in order to sell your home is the most common reason to get a home valuation, it’s not the only one. ​​​​​​​Here are some more situations when a home valuation may be necessary:

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