Here’s why Homebot is a homeowner’s new best friend.

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Want to sell your home? Receive a Home Value Report

What’s Homebot, and how does it work? Starting at 0:22 in the video above, I’ll work with a great example of a Homebot report that a homeowner could receive to highlight some of the tool’s best features. Follow along to get a feel of how this game-changing app works!

Let’s say your primary goal is to understand your home’s current market value. In your Homebot report, the first thing you’ll see is a graph showing you your home's estimated value, and what the trend has been over the past several months. Keep in mind, however, that you’ll be shown raw data, and you may not agree with the estimated value. You can go in and fine-tune your home’s value to optimize Homebot’s algorithms going forward. You can reach out to us for a professional valuation and then input that new figure, but be aware that the adjustable value range does cap out at a certain point.

Your Homebot report will also provide you with great market insights for your specific ZIP code. What makes Homebot so unique is that it actually pulls data from county records in terms of what your mortgage amount is (if you have one) and uses that to estimate how much you’ve paid down in principle and interest. Again, this information may not be 100% accurate either, but it’ll be a ballpark range that you can work with. Just like with your home value estimate, you can update and adjust your mortgage payment figures.

Here’s something even cooler: Your report also shows you exactly where interest rates are at the moment (30-year fixed, 15-year fixed, 5/1 arm, 25-year fixed, etc.) and what you could potentially save if you were to refinance. Interested in knowing what paying a little more on your mortgage each month could save you in the long run? Well, there’s a widget for that, too, and in my example report, it shows that paying $300 extra each month would save this homeowner $36,987 in interest throughout the life of the loan. Just enter in any dollar amount above what you already pay to calculate your long-term savings.

“Homebot is a phenomenal way to track your financial progress as a homeowner.”

Homebot also evaluates what you could potentially get in nightly rent if you used your home as an Airbnb. While that information probably isn’t applicable to most folks, it’s still interesting to check out.

Overall, Homebot’s true value is in helping homeowners come up with a strategy. Is it worth refinancing? If you’re planning to stay in your home for the long haul, what’s the fastest route to owning it free and clear? How does your plan to either upgrade or downsize look given your current equity position? You get a statement on your 401k and your IRA, but you never get a statement on your home value; knowledge is power, and this tool is a great way to keep informed.

If you or anyone you know could benefit from Homebot, please share this video with them. As always, reach out to us if you have questions or want an up-to-date market valuation by one of our real estate experts. We’re always here to help!