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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Johnson Family

Johnson Family

Words cannot express our gratitude for the level of professionalism, expertise, and dedication Luis Segura has shown towards us. We were recommended by a friend to work with him since he knew well of the area we were searching ...
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Sciarra Brothers

Sciarra Brothers

I reached out to Luis through some Alumni connections as it was an easy choice. What I didn't realize was how fantastic of an experience selling was going to be with him leading the charge. Luis takes a very personal approach a...
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Jennifer Gonzales

Luis helped me purchase my first home. He was very knowledgeable with the escrow process and helped answer all my questions. He has great negotiating skills and was great with communicating between me and the seller. He always ...
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 Lisa Marley

Lisa Marley

Luis was instrumental in helping my family sell our house in Pasadena. I was very impressed with the marketing materials and website, which were beautiful. Thanks to Luis' hard work and strong negotiating skills we were very pl...
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Sing Family

Sing Family

Luis Segura at John Aaroe group worked with me on purchasing my first home. As a first time buyer I was very nervous and unsure of the process, however; Luis was very informative and made the whole process less stressful. His e...
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Erica Kim

Luis helped me buy my second property recently. And I have to say, it was such a great experience. Aside from being extremely comfortable to be around, his local knowledge of Los Angeles and ties to the community is what got me...
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Gomez Rivas Family

Gomez Rivas Family

Luis is one of the most patient, professional, friendly, and caring people we could have possibly worked with to sell our townhouse and buy our new home. He helped us figure out what we were looking for and worked relentlessly ...
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David Barila

David Barila

As a first-time buyer I was glad for the guidance Luis gave me through the whole process. He diligently maintained watch over the various parties involved: Escrow, my loan officer, the seller's agent, etc. following up even lon...
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Brandon Duran

Brandon Duran

It goes without saying that Luis is knowledgeable and excellent at what he does. He's a consummate professional who also adds that extra personal touch that seems to be lacking with some realtors. He made us feel like he actual...
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 Cheryl Vuong

Cheryl Vuong

Luis helped me and my husband purchase our first house. We would not hesitate to recommend him to anyone seeking a trustworthy and professional agent. He consistently followed up during the entire process, taking care to explai...
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Brian Pran

Luis was extremely helpful in finding our new home. His knowledge of the homes and areas, responsiveness to text and emails and negotiating skills were amazing! He made the process smooth and gave us confidence throughout the t...
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 Jacqueline Zimmerman

Jacqueline Zimmerman

Luis is an outstanding realtor. His experience is evident all around and he is so wonderful at walking you through the whole process. We came to Luis with a perfect house in mind and with his dedication and expertise, we found ...
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Gold Family

Gold Family

I have known Luis since he was a young boy. He was great then and he is even better today. He is caring, professional, diligent, honest. I could not give him a higher recommendation! Mr. Segura is a trusted, well-informed, prof...
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Gomez Family

Gomez Family

Luis is awesome. I recommend him to any friends who are looking to buy or sell property. He is thorough, knowledgeable, honest and friendly. Though he is a busy man, he never makes his clients feel rushed. I highly recommend him.
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Elaine Tran

Elaine Tran

Luis is like a personal friend when purchasing place, he looks for your best interest and makes process comfortable! He's very familiar with local area and got my place below market value. Happy with his service!
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Tepper Family

Tepper Family

Luis was kind, patient, knowledgeable, and tenacious in helping us sell our townhouse. I highly recommend Luis to anyone looking to buy or sell in the South Pasadena area.
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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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