As you guys know, I have been searching for an investment property to purchase and hold onto for rental income. In order to get an idea of the property value, I use a couple of the online home valuation services. On the current property I am considering, here are values from four of the online vendors. Note: I know these values are not set in stone but they do give me a ballpark figure.

  • Housefront - Value Range: $87,000-$97,000 with an est value of $92k. I like that Housefront gives a letter grade "Confidence Level" for the given value. This valuation was given a grade of "B". I like that Housefront also lists the prior sales history.
  • Eppraisal - Value Range: $78,653-$106,413 with an est value of $92,533. Eppraisal also gives not only the prior sale price but also the county, city and subdivision. One thing that I don't like is that the value ranges are so wide.
  • Zillow - I don't like using Zillow as they do not have alot of values for my area. They only offer the county assessed value of $76,600.
  • Cyberhomes - Value Range: $124,205-$158,707. I do not use this site but just threw it in just to get the values. I think the values are wayyy too high and do not represent the true value.

For my primary home, I feel the value is about $195,000. Here is what Housefront and Eppraisal list. I also included the county tax assessors value as of my last county tax appraisal.

  • Eppraisal - Value Range: $189,000 - $209,000 with a est value of $199,000
  • Housefront - Value Range: $168,674 - $228,206 with an est value of $198,440
  • The county assessed value is $190,490.

My two favorite sites are http://www.housefront.com and http://www.eppraisal.com

Do you use the online valuation services to get an idea of your home value? What website do you use? How accurate are the values for your home?


6 comments

  1. Bo // October 28, 2007 at 9:06 PM  

    I really like Trulia.

    http://www.trulia.com/

    They have lots of cool features like the one's you have listed for the other sites.

  2. PersonallyFinanced.com // October 29, 2007 at 3:22 PM  

    Zillow might not have great data on your area, but for your readers in more completely covered areas it can be surprisingly accurate. Check out this link for accuracy statistics:

    http://www.zillow.com/howto/DataCoverageZestimateAccuracy.htm

  3. SingleGuyMoney // October 29, 2007 at 7:56 PM  

    @ bo - Thanks for mentioning Trulia. I forgot about that one.

    @ personallyfinanced.com - Thanks for adding the Zillow coverage accuracy links.

  4. GeckoGirl // October 30, 2007 at 10:32 AM  

    I haven't heard of the others but I do use Zillow. I also look at the county assessed value and recent comps.

  5. Jonathan // October 31, 2007 at 2:08 AM  

    I like these sites for the tax data and recent sold histories more than the actual appraisals.

  6. Sabina // October 4, 2008 at 11:58 PM  

    homeValence.com has a different approach - home appreciation monitoring with mapping tools; kind of a social real estate finance site.

    http://www.homevalence.com