Eppraisal offers second, third opinions
Relaunch includes Zillow, Cyberhomes valuations
By Inman News, Friday, April 17, 2009.A newly relaunched eppraisal.com now includes home valuations from Zillow and Cyberhomes, along with eppraisal.com's own automated valuations.
In addition to offering "the top home valuation data from across the Web" in one location, eppraisal.com says consumers now have have access to expanded local information, including more comprehensive school data from Education.com, local job listings from CareerBuilder.com, and "walkability" scores from Walk Score.
Real estate professionals are featured more prominently through an upgraded "Find a Pro" service, eppraisal.com said in a press release, which helps consumers find local appraisers, home inspectors, and real estate agents.
In an informal review of the site's valuations of homes in East Lansing, Mich., eppraisal.com typically provided the highest valuation and Cyberhomes the lowest, with Zillow' estimates falling between the two.
A three-bedroom, 959-square-foot home on Charles Street currently listed for $94,900 was valued by eppraisal at $135,477, by Zillow at $110,500, and by Cyberhomes at $91,620.
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Submitted by Larry Whited Sr. on April 17, 2009 - 5:06am.
I don’t think anyone take these appraisals seriously. This is just an attempt to monitize their business model with a “Find A Pro” featured agent revenue.
I point my clients to Zillow just so they can easily see current resales in their area but I tell them not to take the “Zestament” seriously.
I will give them a better opinion based on the condition, location and condition of homes surrounding their home i.e. how many vacant pre-foreclosure homes surround them.
Larry A. Whited, Sr., CRB, CRS, GRI
President & Founder
www.maxUnet.com & www.WebMLS.net
A Virtual Real Estate Franchise System
** Virtual Is the Future **
P.O. Box 757
West Chester Ohio 45071
Direct - (513) 543-2727 Fax - (513) 297-7497
Submitted by Judy Orr on April 17, 2009 - 7:40am.
These websites are such a joke. I put my own house in just to test it out. They're using comps from Chicago for a home in the suburbs, and a large suburb at that! There is simply no comparison.
Because I'm on a double lot they've got me down twice as two different properties, although each one has the same value. And I know I can get more, even in this market, than eppraisal suggests.
But the real joke was the amount cyberhomes gave - over $100,000 less than the true market value of my home. Believe me, I'm thinking of selling this year and I always price my homes low so I know what the market value is.
As an agent I can use these sites as a tool to show an unreasonable seller what other "non-biased" appraisal type sites value their property at. Unfortunately, buyers also view these sites and want to believe that a house like mine is truly worth over $100,000 less than it's true market value.
Agents and appraisers are having a difficult time trying to find market and appraised values. How can these kinds of websites offer such opinions? And how can they be so wildly different?
Judy Orr
Classic Realty Group
708-536-8200
Homes for sale in Tinley Park
Submitted by Ken Lampton on April 17, 2009 - 5:51pm.
It is a shame to see auto-valuation sites given any publicity. All they do is confuse and mislead buyers and sellers alike.