No! Using a website such as Trulia or Zillow (where you'll get a "Zestimate") is OK if you want a starting point for the value of your Roanoke or Smith Mountain Lake home, but even then, you need to take it with a grain of salt.
Third-party real estate sites aggregate listings from all over the country. An algorithm analyzes the listing data and produces an estimated home value.
So what's the problem?
Well, as Realtors, we see it all the time: A seller comes in and tells me what the real estate site said her home in Southwest Roanoke County was worth. Then I go out to do the comparative market analysis and arrive at a list price that's far more or, more troublesome, far less. Of course that causes frustration for the seller, who has been making plans based on the website's estimate.
Here's what I...
So with that in mind, I bring you new year's resolutions for home buyers and sellers who are planning to conduct a transaction in 2018.
FOR BUYERS
1. Check your credit report and credit score.
Especially if it's been a while or if you suspect to find errors or a less-than-stellar report, you should check your credit to see if there's any clean up that needs to be done. Mortgage len...
Good question! For homeowners, and especially homesellers, the value of a home is an important piece of data that helps determine a number of other factors, including the list price. However, the question "How much is my home worth?" isn't as straightforward as it seems, and the answer depends on whom you ask and why you're asking.
There are several different terms that can be used to refer to your home's value, and sometimes clients get confused about which term means what. To add to the confusion, the numbers might vary a great deal, but in context, they're usually still accura...
Unfortunately, it's a reality of modern life in Roanoke and elsewhere. Certain areas have repeated problems with flooding. As we saw last year when our neighbors in West Virginia were hit with horrific flooding, the effects can be devastating.
The Roanoke region has done a lot of work to prepare for flooding and protect residents and their property. However, the rain we've had for the past several days got me thinking about flooding and flood insurance, which prompted me to share this information about the National Flood Insurance Program. As with any insurance policy, you'll want to consul...
For most people, a home is the largest investment of a lifetime. So, buying a second home isn't something that happens without careful consideration and planning. Whether you're looking for a vacation home, a property you plan to rent or the home where you'll retire, you'll need a solid strategy for purchasing the home and for managing the property once it's yours.
I've worked with many buyers who are looking for their second homes, especially around Smith Mountain Lake, and the challenges vary, depending on the planned use for the home and the financial situation of the buyer....
