front driveway and walkway of a house

We had a question asked the other day that we thought we should answer for all of you! And the question is *drum roll, please* : Comps values, estimated values and refined values. What are they??

Glad you asked. ;)

1. A comps value comes from your Realtor, who considers sales in your area and using those recent comparable sales to your home, will come up with a value that they believe your home should sell for. It heavily leans on the price per square foot. This is the most accurate estimate of your home sale value.

2. An estimated value or Realtor Valuation Model (RVM) is an automated algorithmic valuation by software which may be similar to Zillow, although the Realtor Valuation Model probably has access to more accurate data than the software.

3. Lastly, a refined value is an Realtor Valuation Model adjusted by a Realtor to reflect things that the software algorithms may not pick up on, like if you back yard seems to be more private than the rest of the neighborhood, the view is better from your front lawn etc. 

These definitions should help understand better when you see them being used. The best way to see what your house will sell for? Ask your Realtor. They use and take into account elements that no automated software would ever pick up on. 

The house above is a new listing in Cantonment, Florida! You can see more of it here!