I just changed more facts for my house. When will my HomesEstimate change?
Updates to your home facts will be factored into your home's HomesEstimate but, if the updates are not significant enough to impact the home's value, your HomesEstimate may not change. In some cases, the altered data will affect the estimates slowly over about a two-month time period, so you may not see the full impact of the revision during the next estimate cycle. We aim to refresh the HomesEstimate for all homes every fortnight.
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Will the HomesEstimate ever change?
Yes. A team of statisticians are constantly working to make the HomesEstimate more accurate. Homes.co.nz is continually updating the approach used to estimate the value of your home, and any new sales or property information is used to update and ...
Can I get my HomesEstimate reviewed if I believe there are errors?
We will take this feedback on board and use it to see if there are systematic issues with the algorithm, but do not change individual HomesEstimates in response to customer feedback. The HomesEstimate is designed to be a neutral, unbiased estimate of ...
Why is my Capital Value different than my HomesEstimate?
There a number of reasons why the HomesEstimate might be quite different from your current Capital Value. These include: Capital Values are calculated at quite long intervals, usually every three years. The HomesEstimate is re-calculated every month. ...
Is a HomesEstimate a formal valuation?
Absolutely not. The HomesEstimate is not a formal valuation and you won't be able to use it in place of a valuation, though you can certainly share it with real estate professionals. It is a computer-generated estimate of the worth of a house today, ...
My HomesEstimate is too low or high?
The HomesEstimate is a starting point in figuring out the true value of a house. The amount of data we have for the house affects the HomesEstimate accuracy. Price history and property facts: Check to see if your price history (the sale price and ...