"Those online estimates are simply that: estimates" | Barbara Bellesi Zito

My husband and I browse real estate listings occasionally, but we’re perfectly content to stay where we are until both the market and mortgage rates behave themselves again. 

For kicks, we recently checked out the estimated value of one very interesting listing: our own home. The number surprised us both. “Should we call a real estate agent and start packing?” my husband asked.

We came to our senses, of course, fully aware that those online estimates are simply that: estimates. But if this particular site were indeed to be believed, our house was worth $122,000 more than what we bought it for seven years ago. Another listing site pulled up the same figure, while a third offered a more conservative estimate, which was still $68,000 more than what we paid.

I did reach out to a few real estate agents, not to list our home, but to get their advice on whether anyone should believe those online home value estimates. Here’s why they think you should take what you see with a proverbial grain of salt...