Philadelphia Weekly

REAL ESTATE

What not to use online home value estimates for

REThink Real Estate

By Inman News Feed

Add Comment | Comments: 0 | Posted Oct. 11, 2012

However, I don't think these online estimates are well-used to determine the list price of your home. Overpricing is such a serious, potentially harmful misstep (it turns otherwise interested buyers off and can cost you thousands if you overprice and your home lags on the market) that I'd encourage you to opt for getting several estimates of your home's value from experienced, local agents or even to get a formal appraisal, if your budget allows. Use these human professionals' value estimates as the basis of your home's list price.

Tara-Nicholle Nelson is author of "The Savvy Woman's Homebuying Handbook" and "Trillion Dollar Women: Use Your Power to Make Buying and Remodeling Decisions." Tara is also the Consumer Ambassador and Educator for real estate listings search site Trulia.com. Ask her a real estate question online or visit her website, www.rethinkrealestate.com.