Home Valuation

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.

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What is a Home Valuation?

A home valuation is just a fancy way of saying what the value of your home is. They are used during real estate transactions such as buy-sell or refinances to ensure homeowners or buyers are not overborrowing for a property. The home is used for collateral in a mortgage, and if the borrower defaults on his or her loan, the lender will sell the home to recoup the money lent to buy it. If the home was overvalued and they lent too much, they could lose money. The home valuation ensures they will be able to recoup costs should the mortgage not be paid in full.

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What is a Zillow Zestimate?

A Zillow Zestimate is an automated home valuation tool and is recommended as a starting point when determining the value of your home. It incorporates user-submitted and public data and takes into account home facts, location, and market conditions. Zestimates are done entirely online, and no representative of Zillow will visit your home to perform an appraisal. Banks and lenders do not use Zillow or similar services to estimate property and instead rely on the expertise of a licensed appraiser. A Zestimate can be off by nearly 5% nearly 40% of the time in some markets, which amounts to around $15,000 on a $300,000 home.

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What is the Main Difference Between a Zillow Zestimate and a Valuation Performed by an Agent?

The main difference between the two is that a Zillow Zestimate is simply an algorithm. You punch in data, and a value pops out. There is no actual human involved who views your home, compares it against others on the market, and produces a detailed report. When an agent conducts a valuation, they are actively involved in the process and create a valuation that is personalized and in-depth.

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Shelsie R.

We recently had the pleasure of working with Sharmayne Thompson through City First Realty and Financial and were able to refinance our home from a 5.75% interest rate to a 3.25% interest rate in just 15 days! Yes, you heard me ...
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Lilly H.

I am very excited to write this review on Sharmayne Thompson. I was interested in refinancing my home, but I did not know where to begin or who to trust to provide this service for me. Sharmayne offered her services and I accep...
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Alyssa R.

My husband and I just purchased our first home from Megan at City 1st Realty and we had a great experience from start to finish. What stood out to me was that Megan was willing to show us homes in the evening, on weekends, and ...
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Handy

My wife and I really appreciate the honesty and personal knowledge of the market Mr. Garcia had. With the selling of our home, we needed someone who would listen to what we were trying to accomplish by selling a part of us. We ...
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Joyce B.

I recently sold my home of 30+ years through City 1st Realty, with the expert guidance of agent, Megan Tomasello. From start to conclusion, the experience was very pleasant, seamless and ultimately provided a great result. Mega...
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Justine

Angela helped my wife and I find out the first home as a couple. We had looked for months prior to using her and had a hard time finding homes that fit our budget and wishes. Angela was very attentive to what exactly we were lo...
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Camille S.

My husband and I were in need of refinancing our home to assist in consolidating our debt. To our amazement and with great satisfaction, we found City 1st Realty and Financial Services outstanding! Their customer service was ba...
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Buyer

We were so fortunate to have found Mr. Garcia to help us find our first home! Being first-time home buyers, we didn’t have much knowledge about the home buying process, or know where to begin! Mr. Garcia took the time to educat...
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Salter

Megan was extremely knowledgeable in her field of expertise. She provided me with daily or weekly updates on the progress of my refinance. Not only did she reduce my financial obligations but I received a phenomenal interest ra...
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Buyer

Angela helped me sell and purchase a home. She was very responsive and knowledgeable about the difficult Bay Area market. She was proactive in finding me properties that met my specific needs and were a great advocate during th...
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George M.

Angela was a joy to work with throughout the entire process. We didn't feel pressured at all and felt she understood what we were looking for. She was very responsive and handled any challenges that came up quickly. As first-ti...
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Buyer

I appreciate Zachary for answering all of our questions and always following up with us. Great attention to detail and caring attitude. He was also very knowledgeable about the steps we needed to follow and very helpful informa...
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Williams W.

Working with Angela made our first home purchase a breeze. She went above and beyond to make sure we were getting exactly what we were looking for at the best price point available. She was patient in going out to look at homes...
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Buyer | Seller

Megan was the easiest person to work with especially since this is our first time dabbling in homeownership. Always kept us informed and answered all our questions thoroughly. She is very efficient at what she does and was able...
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Sonya

I recently had the opportunity to work with Sharmayne at City 1st to refinance my home. Sharmayne’s level of expertise was remarkable. I thoroughly appreciated her patience and customer service. If you have any lending or finan...
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Liz W.

Angela was amazing. Not only is she really know about the area and neighborhoods, but she handled the negotiation with the buyers and got me everything I asked for. She also answered my texts, calls, and emails quickly! I highl...
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Stacy S.

Zack was great. Helped my husband and me through the home searching process, and through some ups and downs of purchasing a home. Zack was very professional and kept us updated. We are now enjoying our new home it’s a perfect fit!
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Buzy B.

Angela was amazing. She is very knowledgeable about the market and was able to sell our house in less than 24 hours! She always answered my texts, calls, and emails quickly! I highly recommend her!
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Karen

We did a refinance. Megan Tomasello assisted us. She was very thorough and explained everything to us. The process was easy and was completed quickly.
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Samiya H.

Professional, honest and trustworthy! They work hard for you and make you feel valued. Competitive pricing, even better service!
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How is a Valuation Performed?

There are two accurate ways to perform home valuations: with a Comparative Market Analysis and an appraisal. ​​​​​​​Here is how the two differ:

Why is a Valuation Important?

Though getting a valuation in order to sell your home is the most common reason to get a home valuation, it’s not the only one. ​​​​​​​Here are some more situations when a home valuation may be necessary:

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