Frequently Asked Questions
What is an Automated Valuation Model (AVM)?
An AVM is a computer-generated algorithm that uses historic, public sales data and trends to estimate a home's value.
Are AVMs accurate?
Typically, national AVMs are not a good representation of a home's actual value and have a large margin of error. The values generated by nation-wide AVMs are based on automated computer modeling from public records and may not represent the true value of the home as they cannot take into account the nuances of our local market.
How do I get a more accurate estimate?
For the most accurate estimate, contact us to request a Comparable Market Analysis (CMA). This report is prepared personally by one of our agents and gives you a clear understanding of competing properties, market trends, and recent sales in your area.
What is a Comparative Market Analysis (CMA)?
A CMA is a free report prepared personally by one of our agents that compares your home to similar properties in your neighborhood that are currently for sale or have recently been sold. By taking into account certain aspects of a home that may affect its value and marketability, including market conditions, location, and the home’s amenities and overall condition, our agents are able to better assist you in determining the value of your home.