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Know the Limits of Online Home Estimation Tools

There are many great Albuquerque area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (877) 933-6881 for a FREE home buying or selling consultation to answer any of your real estate questions.

There are many useful tools on the web that will help you find the estimated value of your Albuquerque home. As convenient as these sites might be, there is something you need to know about them.

New Mexico is a non-disclosure state, which means that the sales prices of properties are not publicly disclosed. Online home estimation tools asses value based on what homes are listed at in your county. This value is determined by a unique algorithm.

The problem is that homes rarely sell for their listed price. Most of the time there is a 3-6% variation either above or below the asking price. Because of this, websites like Zillow don't have the necessary information required to give an accurate estimate.
In fact, Zillow ranks lowest in terms of the accuracy of its estimates. But this doesn't mean it isn't useful.

Zillow and other online home estimation tools are a great place to get a basic idea of what your home is worth, a good place to start.

Once you have that baseline, contacting a real estate agent is your best option to get more detailed information on market conditions. We have the resources to do a full market analysis, see what other homes have sold for, and give you a full Comparative Market Analysis.

So give us a call or shoot us an email and we'll give you a clearer picture of what your home is worth, it's what we do!