Portland Home Value Estimate – 2018

portland home value estimate

Curious about your 2018 Portland home value? It is important to know there are three major sources available to obtain a home value estimate in Portland.

Best Three Sources to Find Your Home Value:

1. Free Online Home Value Estimates

Online home value estimates are all the same! The best thing about them is they are all free! The worst thing about them is they are all blind! No online home value estimator can “see” the interior condition of your property. The online estimates can’t tell if the home is recently remodeled, completely dated, or a total fixer. This is universally true and the worst part about an online home value estimate, be it a Zillow Zestimate or Redfin estimate (two of the most popular). If your home is like every other on the block, an online home value estimate will probably get you close, but if you have a variety of homes in your neighborhood (and most Portland neighborhoods do) then these sources of information are more misleading than useful. For example, Investopedia has written a great article giving 5 great reasons not to trust your Zillow Zestimate.

2. Real Estate Agent Value Estimates

Real estate agents give out what is called a CMA or comparative market analysis. Portland real estate agents have full access to the MLS (multiple listing service) and are typically looking at the same data appraisers are (sold, active, pending homes). But keep in mind, real estate agents are not licensed appraisers and do not give out appraisals! We’ll talk about appraisers next. A good top local real estate agent can give you a market value, an excellent home value estimate – based on their experience in selling homes. (Check out our top 1% listing agent services in Portland.)

When asked, I’m happy to give a free online professional real estate agent CMA, or home value estimate. It is always a range, unless I can see the home in person. If you’re looking for a professional valuation at no obligation, click here, fill out the form and I’d be happy to create a value range for you without seeing the home in person – as a courtesy. However, if you are looking for an accurate home value estimate because you are considering selling your Portland home (even if you are a year or more away from doing so) I’d love to come out and see the home in person, give advice on preparing the home for market, and giving an accurate home value estimate. I can even project what your future home value might be in the coming years (of course no one can see the future, or guarantee a future value, but I can give an opinion based on my experience and market trends).

3. Portland Area Appraisers

Appraisers are licensed professionals whose primary role is to create accurate official home value reports, called appraisals. The majority of the time, an appraisal is required by the bank giving the home buyer a loan. The appraiser is typically working for the bank to ensure the value of the home matches up with the loan the bank is giving the home buyer. You might not know it, but you can hire appraisers to work for you! Appraisers can help by giving a neutral party home value report for divorce situations, estate resolutions, and more.

Home Values Are Constantly Changing

Don’t rely on old or bad information! The Portland housing market moves fast. Online home value estimates are fun and free, but don’t count on them. When you really need a good home value estimate, contact a top real estate agent, and if you need an official value – hire a local appraiser.

April 10, 2018
AUTHOR

Stephen FitzMaurice

Stephen FitzMaurice, Realtor is a top 5% real estate agent in the U.S. and a top 1% agent in the Portland Metro. Principal Broker in Oregon, Managing Broker in Washington he has been licensed since 2003 for residential real estate sales in the Portland Metro area. Call him direct: 503-714-1111. Pay less (4.5% commission max.) and get more with his top 1% listing team or buy your next home with his excellent top 1% buyer’s team.  For our Clark County, Washington buying and selling services go here.