ValueYourHome® FAQs
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What is ValueYourHome®?
ValueYourHome® is a free service from Xome® that produces an instant custom report on a property in the United States. It allows users to easily access the home's Xome Value®, calculate home equity, see a rental value estimate, and more. Users may also enroll to receive a free monthly ValueYourHome® report to monitor their home's estimated value and other details.
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What is the Xome Value®?
The Xome Value® is an estimated home value generated by our industry-leading automated valuation model (AVM). The model was built by a dedicated internal team with decades of experience in evolutionary programming, genetics, computer science, and artificial intelligence.
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How is the Xome Value® calculated?
The Xome Value® is an estimate calculated through various proprietary mathematical formulas and techniques using currently available local market, licensed, and proprietary data.
Various factors go into the calculation of the Xome Value®:
- Property sales and related information
- Listed property and related information
- Comparable properties and related information
- Price trends, such as home price indexes
- Property features and characteristics
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What do the high range and low range of Xome Value® mean?
The high and low ranges of the Xome Value® show the likely range of the property's true market value based on potential fluctuations in the estimate due to market conditions, data quality, or other influences.
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How accurate is the Xome Value®?
The Xome Value® strives to be as accurate as possible by using historical and current data. However, it does not replace a traditional appraisal. Estimates are not guaranteed, not provided by a licensed appraiser, and may vary due to unique property characteristics or rapid market changes.
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How often does the Xome Value® change?
We update our data at regular intervals (usually weekly or monthly) to reflect changes in the housing market and capture recent sales, listings, and trends. Additionally, any major economic shifts may prompt more frequent updates.
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How can I increase my Xome Value®?
Because the Xome Value® is based on a number of objective data points, there is no direct way to change the Xome Value® of your home. Home improvements that are reported via public records may be able to positively impact future versions of your Xome Value®.
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Can I rely solely on the Xome Value® to set a listing price?
The Xome Value® is a supplemental tool for property research but is not a replacement for a traditional appraisal. Instead, the Xome Value® should be used for personal, non-commercial purposes to help gauge the value of a property.
Consulting with a local real estate expert can provide additional insights based on the home’s unique features and current market demand.
