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Old 07-16-2014, 01:01 PM
 
Location: Greer
2,220 posts, read 2,867,782 times
Reputation: 1752

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I want to know roughly what my East Butler Road-area house is worth, but I don't want to pay for an official appraiser. I'm just curious. I bought my house 7 years ago, (it is 24 years old) and according to Trulia.com it is worth 11.7% more than I bought it for, and according to Zillow.com it is worth 9.4% less than I bought it for. So either one or both of these website estimates is way, way off.

Does anyone know if either of these websites' estimates is generally more reliable than the other? Or is there another such website that is better?
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Old 07-16-2014, 01:06 PM
 
23 posts, read 43,440 times
Reputation: 13
Quote:
Originally Posted by gvsteve View Post
I want to know roughly what my East Butler Road-area house is worth, but I don't want to pay for an official appraiser. I'm just curious. I bought my house 7 years ago, (it is 24 years old) and according to Trulia.com it is worth 11.7% more than I bought it for, and according to Zillow.com it is worth 9.4% less than I bought it for.

Does anyone know if either of these websites' estimates is generally more reliable than the other? Or is there another such website that is better?
Zillow is garbage. Looking at comps in your area. greenvillecounty.org is a good place to start.
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Old 07-16-2014, 01:18 PM
 
5,526 posts, read 8,386,391 times
Reputation: 2262
Quote:
Originally Posted by gvsteve View Post
I want to know roughly what my East Butler Road-area house is worth, but I don't want to pay for an official appraiser. I'm just curious. I bought my house 7 years ago, (it is 24 years old) and according to Trulia.com it is worth 11.7% more than I bought it for, and according to Zillow.com it is worth 9.4% less than I bought it for. So either one or both of these website estimates is way, way off.

Does anyone know if either of these websites' estimates is generally more reliable than the other? Or is there another such website that is better?
Depends on recent sales in the neighborhood. Tax values aren't that accurate.
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Old 07-16-2014, 01:28 PM
 
506 posts, read 1,228,626 times
Reputation: 330
Make friends with a realtor and ask them. Aside from paying someone or learning the way to do comps yourself, that's the only way to be even remotely accurate.
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Old 07-16-2014, 03:52 PM
 
4,270 posts, read 6,964,268 times
Reputation: 7326
Quote:
Originally Posted by 5POINT8 View Post
Zillow is garbage. Looking at comps in your area. greenvillecounty.org is a good place to start.
Zillow and similar sites are not actually half bad if you don't use the number they give you but instead just use it to track actual sales information to provide yourself with some reasonable comps. So no, I don't worry about the value that Zillow uses for my house, but they do provide a lot of information on recent sales around me that let me form my own quick idea of where our house falls.
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Old 07-16-2014, 04:50 PM
 
Location: Greer / Greenville, SC
43 posts, read 68,199 times
Reputation: 25
The best way is to have a real estate agent do a CMA (Comparative Market Analysis) for you. Both Zillow and Trulia use algorithms that throw the price way off, and I never advise anyone to use them as a standard.

If you want to do a CMA yourself, this infographic is pretty informative:Moderator cut: link removed, linking to competitor sites is not ok. The infographic says to use sites like Zillow for comps, but I recommend Realtor.com. This will give you a good ballpark on your home's current value.

Hope that helps!

Last edited by Yac; 07-17-2014 at 04:43 AM..
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Old 07-18-2014, 12:05 PM
 
Location: Greenville, SC
915 posts, read 2,432,976 times
Reputation: 400
Quote:
Originally Posted by jamiecta View Post
Zillow and similar sites are not actually half bad if you don't use the number they give you but instead just use it to track actual sales information to provide yourself with some reasonable comps. So no, I don't worry about the value that Zillow uses for my house, but they do provide a lot of information on recent sales around me that let me form my own quick idea of where our house falls.
Unfortunately Zillow does not take into account any concessions the seller made for the buyer. Neither do any of the other sites. Two identical 1,400sf homes in the same neighborhood sell for $150,000, but one buyer gets $4,500 in closing costs from the seller. Zillow counts them as equal in determining "zestimates" for nearby property values, when in reality, one house obviously sold for 3% more than the other.

Ask a Realtor, even if you don't plan on selling in the immediate future. Most will be happy to help you out.
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