I tried using a free CMA tool for a listing in Phoenix and the valuation was $75k under market.

I learned to always cross-check with recent sales data myself, because that mistake almost cost me the client. What's your go-to method for accurate comps?

3 comments

3 Comments

jesse_smith107d ago

Guess I look at this the other way around. Those free tools give you a starting point, not an answer. You still have to adjust for upgrades and lot size the software can't see. Relying only on recent sales misses why a house actually sold for that price, doesn't it? The real work is in the details the database glosses over.

adam1867d ago

My neighbor's house sold for 20k over estimate because the appraiser loved the custom deck.

keith1647d agoProlific Poster

Wait, but that's exactly the point! The deck is a detail the database missed, so the estimate was just a starting point. The real value came from someone seeing the actual house.