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Old 02-26-2021, 10:36 AM
 
1,135 posts, read 2,145,523 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, 10:40 AM
 
2,595 posts, read 834,087 times
Reputation: 6835
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, 10:54 AM
 
Location: Florida
5,471 posts, read 4,821,132 times
Reputation: 12380
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, 11:45 AM
 
4,991 posts, read 12,720,381 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, 11:47 AM
 
4,991 posts, read 12,720,381 times
Reputation: 3816
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, 11:53 AM
 
3,145 posts, read 6,225,560 times
Reputation: 7155
Because neither of them is right.
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Old 02-26-2021, 02:36 PM
 
Location: Phoenix, AZ
3,332 posts, read 1,688,006 times
Reputation: 8777
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, 03:27 PM
 
Location: Phoenix, AZ > Raleigh, NC
16,945 posts, read 22,060,422 times
Reputation: 28357
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; Today at 12:57 AM..
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Old 02-26-2021, 05:08 PM
 
Location: Western Washington
11,352 posts, read 10,099,756 times
Reputation: 18989
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; Today at 12:57 AM..
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Old 02-26-2021, 05:35 PM
Status: "WE Can Do Better!" (set 2 days ago)
 
Location: Cary, NC
37,227 posts, read 64,627,649 times
Reputation: 37339
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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