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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The Engleman Family

The Engleman Family

After the passing of our parents, we three siblings chose to prepare our family home of 57 years to be sold. During our initial meeting with Ben, it quickly became evident that Ben was not the everyday broker looking for his ne...
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Thomas H.

Thomas H.

Ben listed our house Just before the COVID crisis. Our listing was amazing, as he guided the process with what buyers were looking for at the forefront. When the market stalled he calmed us down and helped us feel confident wit...
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Andrew & Irina I.

Andrew & Irina I.

Ben was the perfect realtor for us and our house. We had heard that Ben was an expert when it came to historic homes in LA, and his reputation did not disappoint. Ben knew exactly what made our historic home special and what wo...
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The Siegfriedts

The Siegfriedts

Vanessa is incredible! We have used her to help us buy a home and are now using her to sell our home. On both accounts, she is absolutely the best! Vanessa has a keen eye for finding a house with good bones and good energy. Whe...
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The Ahearns

The Ahearns

Vanessa was just the best. She found our family the perfect home in terms of price, neighborhood, and style without even meeting us. Even though we purchased the house sight unseen, we knew we could absolutely trust her. She is...
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Garcia Family

Garcia Family

We seriously don’t know where we’d be without Vanessa. Selling our house with her as our agent never ever felt like a business transaction, it felt like we were family. She is amazingly competent and well-versed in her knowledg...
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Gerry

Gerry

Three years ago I engaged Eddie as my realtor for a purchase of a condo in Pasadena. Before that transaction closed (which was quite smooth) Eddie became a dear friend that I continued to rely on throughout the 3 years that I l...
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James & Michelle

James & Michelle

Eddie Ramirez of The Loeffler Team has truly been above and beyond with his service and advice. We bought in a highly competitive market, with many cash offers, flippers, and multiple offers the norm. Eddie really listened to o...
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Taylor & Andrew

Taylor & Andrew

My boyfriend, Andrew, and I were looking to purchase our first home and were recommended to Eddie. He was so incredibly helpful from the get-go. From our first meeting with, him he helped us narrow down what ly wanted in our fu...
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Minh P.

Minh P.

Jack is an excellent realtor, hard-working, thorough, and sharp. If you're in negotiations, you want this guy on your side! He's always 2 steps ahead and extremely honest. I respect him for his integrity. when my husband and I ...
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Jin P.

Jin P.

I know Jack personally, and he is a man of integrity. I would use his services any day, and so should you.
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Randy A.

Randy A.

Jack's attention to detail and desire to provide excellent service in meeting the needs of his clients have propelled him to be considered a top producer in our firm in a very short time. Excellent negotiation skills, knowledge...
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Mehran

Mehran

Barry, I enjoyed working with you and appreciate everything you did for me. You went above and beyond what could be expected of any Realtor® in helping me sell my house.
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P. & C.S.

P. & C.S.

If you are looking for the “concierge” of Realtors®, then look no further than Lisa Paperno. As first-time homebuyers, we required a lot of guidance and Lisa was there every step of the way. With valuable insight, knowledge, an...
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Kevin G.

Kevin G.

Thank you, Barry, I never thought anyone would have to work so hard to get a deal done and you really did the job, and i'm very grateful for the way you conducted all aspects of this transaction.
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Jon S. & Emily A.

Jon S. & Emily A.

Last summer, when my wife and I were looking for our first home, we were lucky enough to have had Barry recommended to us. He isn't only a hard-working, knowledgeable, and dedicated real estate agent, but he is also one of the ...
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R.J.L.

R.J.L.

Lisa has represented my company on each of our new construction projects dating back to 2005. She also listed my home and successfully sold it over asking. Lisa is efficient, detailed oriented and an excellent negotiator, and a...
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Melodie H.

Melodie H.

I cannot recommend Barry highly enough! He was my agent when I sold my home. Clearly selling one's own home is not easy. Barry's expertise in homes of architectural interest, as well as his caring for his clients, made the proc...
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Fitz & Su S.

Fitz & Su S.

Su and I are writing to express what a pleasure it is to have Barry Grey as our real estate agent. Barry has represented us in both the sale and purchase of our homes. Su and I both credit Barry with “getting” what we were look...
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Orit & Kevin E.

Orit & Kevin E.

Barry Gray helped us sell our home in an extremely difficult market. He guided us through the process with professionalism and confidence and got it sold for a higher price than anything else in the neighborhood. It was always ...
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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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