The Estimated Value is derived using a mathematical algorithm; therefore, data is key to its accuracy. It’s not only important to have accurate data points for the property in question, but also for properties in the surrounding areas. The algorithm uses physical attributes and transactional history of properties that include but are not limited to:
- Accurate full address;
- Property attributes such as bedroom, bathroom, garage, floor size, land size
- Historical and recent sales information.
- Local market trends
Also, let us know if the property has been recently renovated or subdivided. All this information helps improve the accuracy of the Estimated Value.