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Why Knowing The Value Of Your Home Is Important-And Why A Zillow Zestimate Is Not An Accurate Tool.
If you’re using a Zillow Zestimate to get an accurate home valuation, you may get a skewed result, which could then affect your home’s listing price. While Zillow has historically provided relatively accurate estimates based on the year the home was built, the number of bedrooms, square footage, and other quantitative data, they’ve recently changed their algorithm. Even when Zillow was fairly accurate, it still provided only an estimate as opposed to a true valuation done by an appraiser or Comparative Market Analysis. Here’s how to get an accurate home valuation and why relying on Zillow or similar sites is usually a bad idea. Outstanding client service, experienced business practices, and ingenious marketing strategies are what make our team the most trusted team in the area.Outstanding client service, experienced business practices, and ingenious marketing strategies is what makes our team the most trusted team in the area.
Coming soon!
Coming soon!
Coming soon!
Jane has strong instincts and a "Get it done" attitude that will give you an edge in your negotiations. We experienced it first-hand and have a beautiful home to show for it!
Jane is overall amazeballs and very knowledgeable of the Culver City market. We were new to buying a home in CA, and she walked us through the process each step of the way. We are now very happy in our new home!
Jane is the best REALTOR ever. She is super responsive, professional, knowledgeable, and most importantly, fun to work with. She managed to help us buy a house in this insane market. I can’t recommend Jane enough!
This is my first time buying a home Jane was very patient and helpful in explaining everything to me. Even at the moment when it got stressful, she talks me through every last detail and still manage to make it fun. Highly reco...
Jane is the best real estate agent we've ever worked with. This is our third mortgage and Jane made the process easier than it's ever been. Very dedicated to showing us houses for over a year in an exploratory fashion. The buye...
Jane was great to work with. Throughout the two-year process of finding our home, she was patient and never pressured or rushed us. She was always positive and made the process less stressful for us. After looking through count...
Jane was a pleasure to work with from start to finish. She was knowledgeable about the area and market, a great communicator, and patient. She was always available to show us listings which during covid required extra work and ...
Jane was everything we could have asked for in a REALTOR. As first-time home buyers, she went above and beyond to ensure we understood every step of the way. As things started to become more complicated, she advocated for us to...
Jane helped my wife and me find and purchase a home that we are extremely happy with. I highly recommend her as an agent. She is hardworking, knowledgeable, and empathetic. She always took our calls even though we would often c...
When we first started looking jane was super helpful and knowledgeable giving us tips when looking into neighborhoods and comparing different homes. Jane was invaluable once we entered escrow, she advocated for us through the w...
I couldn't imagine a better real estate experience than the one I had with Jane. Her patience with my search was exceptional and her persistence to find the right property to fit my needs was extraordinary. Jane's attention to ...
Jane was a wonderful and knowledgeable resource for me during my home purchase journey in the highly competitive market of Culver City. I leaned on her experience and insight and appreciated her Candor. She was an excellent gui...
Jane made the whole process of buying our home so easy and accessible. As first-time buyers, we had lots of questions and needed lots of guidance and jane was always willing to help and answer questions. Throughout the process ...
Jane quite literally is the reason we got our house! She made sure we were positioned right, gave us the best advice during negotiations, and is just so pleasant to work with, the selling agents love her! Not only is she a grea...
We really enjoyed working with Jane for buying our first house. She was patient and helpful in explaining the process to us since we didn't know anything about buying a home. She is also available around the clock and very quic...
Jane Lee is very knowledgeable about most areas in Los Angeles. If she wasn’t familiar with a place she would research on her own. Jane would also drive by places herself and let us know if it was an area we would be interested...
If you need a passionate agent who will be able to be your teammate and troubleshoot and fight till the end, she is the one. I’m a first-time home buyer, so I needed an agent who would be able to patiently walk me through all t...
We just purchased our first home in Ladera Heights, ca just south of Culver City. We've been working with Jane for almost 7 months now since the beginning of our house-hunting process. She's been immensely helpful every step of...
Going into the home-buying process my wife and I questioned whether we really needed an agent since it’s so easy to find homes on Zillow and other sites by yourself. We could not have been more wrong. Jane not only showed us a ...
Jane Lee is the best agent in the business and I have a great new home because of her. She is a well-connected, highly experienced, tenacious advocate looking out for her clients the entire way, asking all the questions we'd ne...
A Comparative Market Analysis (CMA) is a tool used by real estate agents to value a home. It evaluates similar homes that have recently sold in the same area. Agents find comparable sales and use them to conduct a sales comparison. In most cases, an agent will find three homes that have recently sold and are as similar to and located as close to the home being valued as possible. Each one is then analyzed to pinpoint differences between it and the home being valued. Once these differences are priced out, the price of each comp is adjusted to see what it would cost if it was identical to the home being valued were it to be sold in the current market.
An appraisal is an unbiased valuation of a home based on a professional’s opinion. They are usually what mortgage companies use for home purchases and refinances. A lender usually orders a home appraisal and the cost of the appraisal, sometimes up to $500, is paid by the homeowner. An appraiser does a complete visual inspection of the interior and exterior of the home as well as taking into consideration recent sales of similar properties and market trends. The appraiser then compiles a detailed report on the home, including an exterior building sketch, a street map showing the home and any comparable sales, photos of the home and street, an explanation of how the square footage was calculated, and any other relevant information.
Lenders base the amount of their loans on the value of your property and usually allow you to borrow a maximum of 75% to 96.5% against your property. Knowing what your home is worth allows lenders to calculate your equity in the home. The more equity you have, the better terms you will receive on your refinance.
If you’re doing home improvement projects to increase the resale value, you want to make sure you’re not pricing it out of the market. If your home is already priced on the high-end for your neighborhood, making too many improvements could make it more difficult to sell. When you get a valuation, you can see how your home compares with others in the neighborhood and let this guide your home improvement decisions.
If you want to borrow cash against your home, getting a Home Equity Line of Credit (HELOC) could be a good option. To qualify, you must have a certain level of equity in your home. Most lenders require at least 20%. Getting a home valuation will help you determine if you qualify and will be used by the lender to make a decision on your loan.
Though it’s not a necessity, simply knowing the value of your home is good information to have. It will help you plan for the future and deal with unforeseen circumstances when you might be in a position that requires extra money or a quick relocation. Knowing how much equity you have in your home and how much you may be able to borrow against it or sell it for will help you respond to any financial curveballs that life throws at you.