If you’ve been thinking about selling your home, you’ve probably checked out sites like Zillow, Redfin, or Realtor.com to get an idea of what your home might be worth. But are these estimates really reliable? Let’s dive into what these automated valuations are based on and whether they’re a good guide for pricing your home. What Is Your Home Really Worth? The true value of your home comes down to what a ready, willing, and able buyer is willing to pay for it. While this might sound simple enough for a computer to figure out, it’s not that straightforward. Sure, in many Richmond neighborhoods, homes may have similar specs—like the number of bedrooms, bathrooms, and square footage. That makes it easier for algorithms to generate an estimate. But even homes with similar specs can be vastly different! For example, one house might be on a quiet cul-de-sac, while another is near a busy street. One home could have a recently renovated kitchen, while the other hasn’t been updated in years. Eve
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