If you want to know what your house is worth, without spending any money, the information you get is worth what you pay for it. 

    Automated Valuation Models (AVMs) and homeowners using "free online home values" to determine the value of a property need to know what those results aren't telling them.

    Is the house really there?

    That broken down tar paper shack just sold for the value of the lot, and the AVM uses the sale as a comparison with your house.

    That 10,000 sf house sold for One Million, becasue no one wants it, but the AVM averages that house size with you and cuts your value down, when a really nice 4000 sf waterfront house might be worth more than the big one.

    The house down the street went into foreclosure, the AVM does not know it.

    The house down the street, same size as your house, was a meth lab house and should be burned down, and sold for less than the land value. Its a comp for your house with an AVM.

    The one I really like, is the house that was not ever finished, I saw one they lived in it for 28 years, still just had tar parper on the siding and only the kitchen, 1 bath and bedroom had floors, walls, ceilings, electric or plumbing. The rest of the house was subfloor, and insulation wrapped with plastic. 

    The AVM has no idea what the sale is, it takes the information from tax records, sf, baths, and divides that into the sale price and says what your house is worth. 

    Zillow.com is a fun one to look at.  At advanced training for sales agent, they recommend that the agent tell the home owner to look at Zillow.com because in the vast majority of cases the zillow number will be less than the well kept average house in your neighborhood. If you see the low number on Zillow.com, you may agree to a low asking price, and your house just might sell quicker. Because the buyer may be getting a great bargain - your house.

    If you want to know what your house is worth, call a professional.  We at Tidewater Properties would be delighted to help you.     

    If you want to do it your self, goto the Maryland Tax Assessment Website, (find it on Google) MD SDAT. Look for your house using your street address, then use the link to Property Sales. Then look for sales of other houses on your tax map page, check out their addresses and go look at them, then knock on the door, ask to see the inside and see how their house compares with yours.  Have fun.

 


Today's Rates:

Mtg Loan    Rate  APR
30-yr Fixed3.87%4%
15-yr Fixed3.16%3.33%
1-yr Adj2.78%3.45%
* national averages









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