When you think of a forecast, you might think of the next seven days and whether you need to bring an umbrella to work.
But there is a new forecasting tool in real estate designed to tell you whether your home will increase or decrease in value over the next year. There are plenty of sites which will give home values for your state, your region or your town- today.
But predicting the value of individual homes in the future is a different undertaking.
A new Boston-based start-up called Pricing Nation takes trends in the area, business growth, similar homes on the market, unemployment figures, interest rates, home inventory nearby, and the uniqueness of the property to predict the value of your home say, one year from now.
We think it will be an interesting addition to the real estate tool box, but it should be one tool of many. An algorithm can't measure the 'feel' of a town or the nuances of a neighborhood. Nor can it measure a home's unique features, style and condition.
And there is no algorithm that can predict the right time for you to sell your home.
A local real estate agent has access to the latest tools and can provide a comprehensive and accurate analysis based on your specific needs.
Because when it comes to selling your home, the last thing you want is an unexpected wrench in your plans.
For more information, see the story on Boston.com, or go direct to Pricing Nation.
