Don Wenner Home Selling Team Blog: August 2009

In the past you could simply compare the price of homes that sold down the street to tell how much yours would sell for.  This is no longer the case due to the abundance of foreclosures and houses remaining on the market for so long.  Now homeowners and buyers are using real estate websites for appraisals.  These websites allow users to the address and provides a price or range of prices that the home is currently worth.

Of course, it is important to remember that these websites are only providing an estimate. The estimates given are not 100% accurate.  The websites determine property values by collecting information from public records, Multiple Listing Services, and recent sales of comparables nearby.  This information is then processed through an automated valuation model (AVM)  to calculate the value of the home. The AVM is unable to take into account upgrades in a home or the size of a room.  This is what causes the discrepancies in the estimates.  Another problem with the AVM is that some of the data collected is wrong.

Below are websites that can be used for online appraisals.

1. Zillow.com offers home value estimates (accuracy varies by market) and "owner's estimates" calculated after an owner has added information about their property.
2. Cyberhomes.com allows users to get a free home-value estimate, and browse for-sale and distressed listings.
3. Eppraisal.com provides home value estimates alongside projected values and the home value estimates provided by Zillow.com and Cyerbhomes.com.

It is important to remember that if you want to know the exact value of your home, you should definitely seek the assistance of a real estate agent.  These websites will provide you the estimated value of your home, but it is still important to surround yourself with knowledgeable professionals.

Don Wenner has the wisdom and expertise needed to evaluate the value of your home.  Contact Don today and check out his Lehigh Valley website to view the best properties in Bethlehem, Easton, or Allentown

The Internet has totally changed how homes are purchased and sold in Lehigh Valley because it allows homebuyers to take control and locate homes.  They can locate information about properties available, open houses, and get information about potential neighborhoods.  According to the National Association of Realtors, approximately 9 out of 10 recent buyers use the Internet for their home search. 

You have probably heard of Trulia or Zillow, but below are four lesser-known websites recommended by SmartMoney to assist homebuyers searching for their new home.

• Listingbook.com provides an interactive community by partnering with several Multiple Listing Service (MLS) Databases.  Homebuyers can set their own search parameters, and the website will automatically send them updates as new properties are loaded in the MLS database.  Users also have the capability to edit their preferences, browse local listings, locate open houses, and contact their broker.  Currently consumers can only set up an account through a broker, and this service is not available in every state.
• Doorfly.com helps homebuyers find a real estate agent through a bidding system.  Homebuyers submit their needs to a pool of agents, and agents compete with each for their business.  Agents also offer an incentive rebate from their commission.   Homebuyers can then compare the agents, and select the one that is best for them.
• Market Snapshot is located on the Realtors.com website .  It provides buyers and sellers the latest market trends.  Users can sign up to receive a report that will provide the asking price and selling price of homes in their neighborhood, inventory levels,  comparison of the listing price and the sold price, and the average time the homes spend on the market.  The reports are free and will continue to be received until the subscription is canceled.
• Walkscore.com measures the "walkability" of neighborhoods.  Users just enter the address and it will provide a list of nearby stores, libraries, schools, etc. along with a walkability rating.  This website allows buyers to easily analyze the location of the home.

Are you ready to find your new home?  Don Wenner can help you locate the home of your dreams.   Visit donwenner.com for the best properties in Bethlehem, Easton, or Allentown.