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Old 12-02-2017, 08:47 AM
 
730 posts, read 299,381 times
Reputation: 1153

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Quote:
Originally Posted by MikeJaquish View Post
Easy and simple.
Pick a property, or use your own home, and just post four valuations like I do in the first comment.

Use the four sites that do pop appraisal opinions of value.

Realtor.com https://www.realtor.com/

REdfin https://www.redfin.com/?estimate

Remax Home Value

Zillow https://www.zillow.com/find-your-home/
Do you mean to call this an appraisal? I always thought that an appraisal was done by a licensed appraiser according to a defined process.

Sorry to be pedantic but real estate professionals should really try to use proper terminology and licensed appraisers may not think this is very respectful to their profession. Sort of like calling a FSBO a 'Realtor' just because they sold a home. I'm sure you wouldn't like that very much.

Correct me if I'm wrong.
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Old 12-02-2017, 12:18 PM
 
Location: Forest bathing
854 posts, read 439,937 times
Reputation: 2033
Realtor.com $422,000

Redfin: $374,177

Remax: $377,176

Zillow: $397,703

$45,000 difference. Ours would be more but they are basing it on assessed value, I believe, and we have an open space designation. Very interesting numbers.
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Old 12-02-2017, 12:23 PM
 
Location: Forest bathing
854 posts, read 439,937 times
Reputation: 2033
Quote:
Originally Posted by LeavingMA View Post
These work pretty well if you are in a homogeneous neighborhood. As soon as you have a completely different property or in a more rural area, forget it. The values will vary widely.
So true for where we live on rural acreage close to town. Properties in the last 3 years have sold for $550,000; $750,000; $1.3 million, $1.34 million, $340,000; and $380,000. The three most expensive were in the gated community across the road. The three less expensive had either less acreage, smaller homes or were a fixer upper.
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Old 12-02-2017, 01:27 PM
 
Location: NC
1,062 posts, read 453,544 times
Reputation: 2515
Realtor.com- $254,200

Redfin- $281,725

Remax- $236,503

Zillow- $285,099

Eppraisal- $235,745

We live at the top of a mountain now, in a rural area. I am pretty sure it's tough to find comps. We have multi-layer views and can see for miles and miles. The valuation would probably be very accurate for the house and land with no view.

Interestingly enough, we had refinanced our house in Raleigh less than a year before we put it on the market. It appraised for $196,000. It sold for $251,500. Our tax value was $192,000.
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Old 12-02-2017, 04:45 PM
 
Location: Connecticut
22,486 posts, read 37,160,959 times
Reputation: 6121
Realtor.com $397,000
Redfin Does not recognize my address
Remax.com. $393,000
Zillow. $420,000

Not sure why Redfin did not have my address. Zillow is definitely the most accurate here since a similar house to ours on the next street just sold for $420,000. That house is a bit newer but smaller and has not been updated (upgraded new kitchen). We are not selling but it is interesting to see the results. Jay
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Old 12-02-2017, 07:33 PM
 
Location: Myrtle Beach
1,304 posts, read 858,148 times
Reputation: 3279
Realtor - 263,000
Redfin - 243,680
ReMax - 257,069Z
Zillow - 244,030
eppraisial - didn't work

Identical house a block away just sold for 249,900
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Old 12-02-2017, 09:18 PM
 
2,124 posts, read 4,143,500 times
Reputation: 1316
Quote:
Originally Posted by MikeJaquish View Post
All of the below are fairly cookie-cutter, exclusive single tract-builder neighborhoods, with homes of the same age, and very similar repetitive styles.
When some in the public place their faith in these pop appraisals, I think it reasonable to think they don't really work much better than a stopped clock being right twice a day.



Likely Sale at about $360,000:


Likely sale about $240,000-$245,000:



Likely sale $410,000--$420,000:
Agreed, just saying you have to take them with a grain of salt...that is all.
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Old 12-03-2017, 05:51 AM
 
Location: Cary, NC
28,672 posts, read 50,958,176 times
Reputation: 26891
Quote:
Originally Posted by LeavingMA View Post
Agreed, just saying you have to take them with a grain of salt...that is all.
Absolutely a grain of salt for any of them. Many grains....
The companies pushing casual and bogus pop appraisals as a component of their marketing outreach and value proposition in service to consumers cry out to be reined in and regulated.
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Old 12-03-2017, 06:18 AM
 
270 posts, read 89,929 times
Reputation: 392
Realtor.com....$270,700

Redfin.....$259,000

Remax....NA

Zillow....$262,560

Realtor is too high as they have my square footage wrong.
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Old 12-03-2017, 08:53 AM
 
534 posts, read 325,165 times
Reputation: 929
595900 realtor
550007 remax
578413 zillow
540277 redfin

This is all for a property that has not conveyed since the seventies, so values are riding solely on comps. This house would actually sell for $570 now and closer to $600 next spring. In-town Boston neighborhood, walk to train.

Last edited by SalamanderSmile; 12-03-2017 at 09:04 AM..
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