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Automated valuation models can give you a ballpark idea on the sale activity in your area, but unless you understand how the data is filtered, it could give you a wrong conclusion, according to Joseph Magdziarz, President of theAppraisal Institute. He recommends that you use sites like Zillow and Cyberhomes with caution, since the comparables used may include short sales and foreclosures which may skew estimated prices lower. For the best estimate of the value of your home, there is no substitute for the opinion of an appraiser or real estate professional. Read article
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