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Old 02-26-2021, 09:36 AM
 
1,144 posts, read 2,232,466 times
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Just a quick question. I live in North Carolina and when i look up my home on Zillow it gives a value of 568,000 and when I Check Canopy it gives a value of 590,000.

Why such a difference??
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Old 02-26-2021, 09:40 AM
 
3,290 posts, read 1,314,381 times
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Because they use different algorithms to arrive at their, ahem, so-called value estimates.

Both should be considered as worth pretty much what you paid for them.

Fun to look at, though.
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Old 02-26-2021, 09:54 AM
 
Location: Florida
5,821 posts, read 5,263,386 times
Reputation: 13409
Useless. Better to look at houses recently sold in your area to see what real prices are - and even that has a long list of specifics.
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Old 02-26-2021, 10:45 AM
 
5,077 posts, read 12,974,435 times
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Quote:
Originally Posted by biscman View Post
Just a quick question. I live in North Carolina and when i look up my home on Zillow it gives a value of 568,000 and when I Check Canopy it gives a value of 590,000.

Why such a difference??
What do YOU think the place is worth?

If you had two totally independent appraisals done, do you think both reports would come up with the same value?
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Old 02-26-2021, 10:47 AM
 
5,077 posts, read 12,974,435 times
Reputation: 3969
Quote:
Originally Posted by biscman View Post
Just a quick question. I live in North Carolina and when i look up my home on Zillow it gives a value of 568,000 and when I Check Canopy it gives a value of 590,000.

Why such a difference??
You think a $20k value difference on a $580k home is a large difference??
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Old 02-26-2021, 10:53 AM
 
3,294 posts, read 6,579,280 times
Reputation: 7804
Because neither of them is right.
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Old 02-26-2021, 01:36 PM
 
Location: Phoenix, AZ
4,130 posts, read 2,260,913 times
Reputation: 11156
My house.

Zillow 293,267
Homes.com 300,080
Redfin 311,241

My opinion based on recent sales in the neighborhood and a realistic evaluation of my house, is that Zillow is closest.

I bought the house a year and a half ago for 238,000. Not looking to sell for a long, long time to come. But it's fun watching the prices go up.
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Old 02-26-2021, 02:27 PM
 
Location: Phoenix, AZ > Raleigh, NC
17,510 posts, read 23,197,294 times
Reputation: 29959
My house:


Zillow $467,666
Redfin $440,790
Xome $459,699


What's most fun about this? Xome says we paid $40,300 in 2013. Redfin says we paid $897,000 for it in 2013. Neither are correct.

Last edited by Yac; 03-02-2021 at 11:57 PM..
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Old 02-26-2021, 04:08 PM
 
Location: Western Washington
11,946 posts, read 10,718,449 times
Reputation: 19881
For me,

Zillow $481,000
Redfin $372,000
Homes $612,000

based upon the sales in the neighborhood, my guess is that Zillow is probably the closest, but might be a bit low.

Last edited by Yac; 03-02-2021 at 11:57 PM..
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Old 02-26-2021, 04:35 PM
 
Location: Cary, NC
38,814 posts, read 67,168,055 times
Reputation: 39564
OP,
You are looking at unregulated online appraisals.
None of them are worth anything. They are only performed by REALTORS and websites to draw traffic, like a moth to a flame, so they can generate sales leads.
There are no standards for these appraisals, no professionalism, and no accountability for misleading you with bogus values.
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