Coastal Sotheby's International Realty

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What is My Home Worth?

In today's market, it is only natural to wonder about the value of your home. Sometimes, the process of reaching out to a professional to get a traditional appraisal can seem overwhelming and time consuming. At Coastal Sotheby's International Realty, we value your time as much as you do, and we have employed a number of tools to assist in saving you time, money and stress in the process of buying or selling your home. That’s where AVMs come into play. Try it out here:

 

So, what is an AVM? An Automated Valuation Model takes a behemoth amount of data, typically a combination of property records, property listings from different platforms, and data such as the size of the home, number of rooms, location, and home quality characteristics. AVMs typically use advanced analytics, such as machine-learning algorithms, to analyze these different data points for a given property to predict a property’s current or future value. 

Because AVMs use so much data, combined with that powerful algorithm, they are able to come up with a relatively accurate estimate. Research shows that AVMs for residential properties are usually within a 4% margin of absolute error, meaning that you could have an accurate idea of what your home is worth, in a matter of minutes or less. 

The AVM is just one of many tools we encourage, to help take away the stress of valuing your home, turning it into a simple, fun, widget, that can be utilized at any time. This tool, combined with the incredible professionalism and care you will receive from us at Coastal Sotheby's International Realty, will ensure that you have a powerful upper hand in selling your home.

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