It's probably accurate to say that, at one time or another, we've all looked at generic home price estimates, available via a range of websites.
These are undeniably fun and easy to use and can be useful for giving a very rough guide as to what your Coronado home may be worth.
Problems start, however, when sellers believe these prices to be entirely accurate.
Each website has its own method of calculating your home price, which is why you may find that your value differs from site to site. They are often 10% adrift, plus or minus, of the true home value and there has been a lot of circumstantial evidence to suggest they can also be much wider of the mark than that!
Much of the data is gathered from sources like the local county assessor's office. This is essentially historic data that doesn't reflect current market trends and, as we've been observing in recent blogs, market values are currently on the move, so the chances of an inaccurate online price estimate right now are arguably higher than normal.
These estimates are also done "blind", in that no account is taken of the actual condition of your home and there is no knowledge of extra features and additions you've made to the property.
Ultimately there is only one way to get a truly accurate valuation and that is to contact a successful and experienced agent to visit the property and take full account of all the variables. The agent will also have an intimate knowledge of current market dynamics and will also know what similar properties are currently selling for in the Coronado area.
So, by all means, have a look online to get some idea of where your home sits in the market, but don't rely on it. We'd be happy to provide you with firm guidance as to where your home sits in up-to-the-moment Coronado market conditions, so please call us on 619-886-0175.