To find out the value of their home, many Metro Detroiters go to Zillow, type in their address, and check their Zestimate. But is that number accurate?
According to Zillow, in most cases the Zestimate will fall within 10% of the real value of the home. A home with a $250,000 Zestimate, then, could actually be worth $225,000 or $275,000.
However, Investopedia points out that “Zestimates are only as accurate as the data behind them, so if the number of bedrooms or bathrooms in a home, its square footage, or its lot size are inaccurate on Zillow, the Zestimate will be off.”
So while Zillow is a good place to start when determining your Southeast Michigan home’s value, it’s not exactly a reliable number. We’ve put together a list of other elements to factor in to your Zestimate.
Zillow doesn’t know if your roof is leaky or your foundation is starting to crack – in fact, it assumes your home is in great condition. Anything in your home that is in disrepair is going to lower its value.
Still have avocado green countertops from the 1970s? Is your furnace decades old? If your home needs a lot of updates to bring it into the 21st century, that’s going to lower its value.
If your home is dirty and cluttered, buyers won’t be willing to pay as much. You can remedy some of this yourself if you put some effort into cleaning and staging your home before you list it, but if big-ticket items like fresh carpet or refinishing hardwood floors (hello pet owners) are needed, that’s definitely going to bring down your value.
Are you facing a main road or busy shopping center? Is your property covered in inches of Michigan winter snow and ice? If your home isn’t in the ideal neighborhood or price-point for buyers in your area, or if it’s just not the best time of year to sell, then it will take longer and probably sell for less.
As always, Mitten Made Properties is ready if you want to sell your home for a fair price in as little as two weeks. No repairs, no updates, no cleaning – just an as-is cash sale in as little as two weeks. Give us a call at (248) 883-3340 to find out what we can do!