Zillow's Not the Only One!
Posted Nov 30, 2007 @ 12:39 pm, Viewed by 1030 Visitors, Read 1089 Times.
Although Zillow clearly dominates the market of providing free, instantaneous real estate valuation estimates, it is not the only source. A variety of websites now offer similar online valuation calculators that provide results simply by having a user enter a residential address.
There has been and will continue to be significant debate about the accuracy of results from these online algorithm-based valuation calculators. While many of the criticisms leveled against Zillow and similar websites have some merit (i.e., some online estimates do not reflect true market values), it is not the intent here to rehash the reasons for these shortcomings. And so, with the broad caveat of ‘user beware’, here is a list of some sources of free online home valuation calculators:
1.) Zillow
2.) HomeGain
3.) Eppraisal
4.) Reply
8.) HouseFront
5.) RealEstateABC
6.) CyberHomes
7.) PropertyShark
In addition to these sites, Yahoo! Home Values provides comparative results from three of the services listed above (Zillow, Eppraisal, Reply). In many cases, there are significant variations between the results showing up just on Yahoo's page (I've seen over 20% value differentials), which is a good indicator that the market value estimates from these sources are often not as accurate as might be hoped.
These websites certainly can be fun to use for the sake of curiosity or ballpark value estimates, but users should know there is no substitute for a valuation estimate provided by a real estate professional or licensed appraiser familiar with specific local market conditions.
There has been and will continue to be significant debate about the accuracy of results from these online algorithm-based valuation calculators. While many of the criticisms leveled against Zillow and similar websites have some merit (i.e., some online estimates do not reflect true market values), it is not the intent here to rehash the reasons for these shortcomings. And so, with the broad caveat of ‘user beware’, here is a list of some sources of free online home valuation calculators:
1.) Zillow
2.) HomeGain
3.) Eppraisal
4.) Reply
8.) HouseFront
5.) RealEstateABC
6.) CyberHomes
7.) PropertyShark
In addition to these sites, Yahoo! Home Values provides comparative results from three of the services listed above (Zillow, Eppraisal, Reply). In many cases, there are significant variations between the results showing up just on Yahoo's page (I've seen over 20% value differentials), which is a good indicator that the market value estimates from these sources are often not as accurate as might be hoped.
These websites certainly can be fun to use for the sake of curiosity or ballpark value estimates, but users should know there is no substitute for a valuation estimate provided by a real estate professional or licensed appraiser familiar with specific local market conditions.
Branden Schroeder
Prudential Carruthers Realtors
Please visit my Maryland Real Estate website
Phone: (410) 571-1378
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I think you are right in that they are really more toys than tools. If someone wants to know the value of their home near me, they need to speak with an agent who knows the market. They certainly don't help consumers much in making educated decisions about real estate.