Home Value

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.

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.

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.

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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Me and my husband recently moved for work and thought it was time to buy our first home. We were on a time crunch because our new jobs had us move immediately and we were in temporary housing. We asked Melissa for her help and ...

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Shante did an excellent job representing us in the sale of our long-time home in Morgan Hill. Shante has a deep understanding of the local market and was instrumental in helping us stage and price our home so that it would stan...

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Our experience with Shante was awesome! She took the stress out of selling our home. She is very knowledgeable and does her due diligence. She kept us informed every step of the way. And in the end she sold our house within two...

Ayumi U.

Shante was great - I am 100% convinced that we wouldn't have been able to buy our house without her help! She provided sound advice, and was very clear about deadlines and other critical matters. She was also very patient and r...

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Shante was easy to work with. Very helpful and kind. She helped us find the perfect home for our family. She was in good contact with us and the sellers and explained things as we progressed through the purchase of our home. We...

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Gary is such a pleasure to work with! He was patient and committed to helping us find exactly what we wanted (and we did!). We especially appreciate his deep knowledge of Morgan Hill neighborhoods and the local community.

Greg

Shawn conducted herself with the utmost integrity and professionalism. Her attention to detail and excellent communication skills were impressive. We felt in good hands throughout the process.

Tina

Shawn was great to work with. She was always patient, and explained every step thoroughly to my 88 year old Mom, who was the client. I highly recommend and would certainly choose her again!

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Gary Palacios listed and sold our home in Morgan Hill, California this fall. Having the right Real Estate Broker means having someone who is committed to partner with you to sell your home – that is Gary! Gary truly cares about...

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Shante sold our house for us in Morgan Hill. We talked to several realtors before choosing Shante, all of them told us the price we wanted to ask for our house was too high, and that we should reduce the price before putting it...

Seller

Gary Palacios listed and sold our home in Jackson Oaks, Morgan Hill, California. I was a Real Estate Broker for 25 years and co-owned five offices with over 200 Realtors. Gary is truly one of the best of the best Realtors in Ca...

Buyer

There is no one like Gary! His entire team is top notch! We purchased our home right in the middle of Covid 19 and this made things ever harder. Gary made things better for us in more ways that I can explain. If you want a real...

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Shante is great to work with. She listened to our needs and only brought us listings that fit what we requested. She got our house sold quickly and for what we wanted. We felt that our needs came first in the sale and purchase ...

Buyer/Seller

We highly recommend Shawn! We can't thank her enough for the wonderful support she gave us through both our home sale and purchase. Her positive attitude kept us reassured and focused. I loved our weekly (and sometimes daily) d...

Seller

Gary is top notch in every way! He is professional, thorough, quick to take action and relational at every level. He is caring and negotiated to give us exactly what we needed. I am grateful for his knowledge and support. I wou...

Buyer

Shawn VanDenBrandHorninge found the perfect home for my family, even with my unique requests. Her strategic negotiations enabled me to purchase the home within my budget. She is proactive, diligent, responsive, dedicated and kn...

Seller

Shawn is very professional. She keeps you updated continually and wastes no time getting things done. We received an above asking price offer and we got the deal closed. I would highly recommend her.

Seller

We've sold and purchased multiple homes with Gary Palacios. He is trustworthy and reliable. I highly recommend him and would use Gary again with any other real estate transaction.

Buyer

Gary worked with us for over a year to help get us the house we wanted and sold our existing home to make it happen. We would recommend Gary to anyone.

Seller

Amicable/knowledgeable group. Fun to work with-Gary has many ideas to make your home look it’s best. Really considered my needs when selling my home and purchasing a new one.

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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:

Comparative Market Analysis.

A Comparative Market Analysis (CMA) is a tool used by real estate agents to value a home. It evaluates similar homes that have recently sold in the same area. Agents find comparable sales and use them to conduct a sales comparison. In most cases, an agent will find three homes that have recently sold and are as similar to and located as close to the home being valued as possible. Each one is then analyzed to pinpoint differences between it and the home being valued. Once these differences are priced out, the price of each comp is adjusted to see what it would cost if it was identical to the home being valued were it to be sold in the current market.
Comparative Market Analysis.

A Comparative Market Analysis (CMA) is a tool used by real estate agents to value a home. It evaluates similar homes that have recently sold in the same area. Agents find comparable sales and use them to conduct a sales comparison. In most cases, an agent will find three homes that have recently sold and are as similar to and located as close to the home being valued as possible. Each one is then analyzed to pinpoint differences between it and the home being valued. Once these differences are priced out, the price of each comp is adjusted to see what it would cost if it was identical to the home being valued were it to be sold in the current market.

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:

Refinancing.

Lenders base the amount of their loans on the value of your property and usually allow you to borrow a maximum of 75% to 96.5% against your property. Knowing what your home is worth allows lenders to calculate your equity in the home. The more equity you have, the better terms you will receive on your refinance.
Home Improvements.

If you’re doing home improvement projects to increase the resale value, you want to make sure you’re not pricing it out of the market. If your home is already priced on the high-end for your neighborhood, making too many improvements could make it more difficult to sell. When you get a valuation, you can see how your home compares with others in the neighborhood and let this guide your home improvement decisions.
Qualifying for Lines of Credit.

If you want to borrow cash against your home, getting a Home Equity Line of Credit (HELOC) could be a good option. To qualify, you must have a certain level of equity in your home. Most lenders require at least 20%. Getting a home valuation will help you determine if you qualify and will be used by the lender to make a decision on your loan.
Planning.

Though it’s not a necessity, simply knowing the value of your home is good information to have. It will help you plan for the future and deal with unforeseen circumstances when you might be in a position that requires extra money or a quick relocation. Knowing how much equity you have in your home and how much you may be able to borrow against it or sell it for will help you respond to any financial curveballs that life throws at you.

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Home Valuation

What is a Home Valuation?

What is a Zillow Zestimate?

What is the Main Difference Between a Zillow Zestimate and a Valuation Performed by an Agent?

My Testimonials

Donelle

John L.

Kristin

Ayumi U.

Gina & Bob

Karen S.

Greg

Tina

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Buyer

Buyer/Seller

Buyer/Seller

Seller

Buyer

Seller

Seller

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Seller

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How much is your Santa Monica home worth?

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:

Comparative Market Analysis.

Comparative Market Analysis.

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:

Refinancing.

Home Improvements.

Qualifying for Lines of Credit.

Planning.

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There are two accurate ways to perform home valuations: with a Comparative Market Analysis and an appraisal. Here is how the two differ:

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: