What is my
home worth?
There are three different numbers people mean when they ask this, and they are produced by three different processes. An online estimate is a statistical guess made without seeing the house. A listing valuation is a judgment about what a buyer will pay in the next sixty days. An appraisal is a lender's defence of a loan amount after a contract already exists.
Confusing them is expensive. This guide explains what each one is for, what actually drives the number in Central Florida, and what moves it less than people expect.
Value is set by what comparable homes near you have recently closed for, adjusted for the differences a buyer can see, and then tested against what is currently on the market competing with you. Automated estimates work off public records and cannot see condition, view, floor plan or a new roof, which is exactly where the money sits in this market.
Three numbers, three purposes
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How a valuation is actually built
The method is not mysterious. It is a short list of comparable sales and a set of defensible adjustments.
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What moves the number here
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What moves it less than you think
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Two things worth timing
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A range we cannot support with comparable sales is not worth having, and a high number given to win a listing is the most common way sellers lose money. We would rather see the house, show you the comps we used, and be specific about what we are unsure of.
The bottom line
Ask anyone who gives you a value for the comparable sales behind it. If the answer is a single number with no list attached, it is a marketing figure, not a valuation.
What's a buyer willing to pay?
Send us the address. You will get a written price range based on what similar homes nearby actually sold for, and a note on what could move it up or down.
George will look at the address and follow up within 24 to 48 hours. Questions in the meantime: (352) 717-4153.
Want this as a
printable checklist?
Send it to your inbox and work through it at your own pace.
The PDF is on its way. If it does not show up in a few minutes, look in spam or email george@georgevanlare.com.
