Home value providers and how their valuations differ
Resolution
We have partnered with Zillow.com, Eppraisal.com, and Reply.com to provide our users with access to three top-tier home value estimate providers in a single location. These valuations are meant to be a starting point for your real estate research and are not appraisals or precise determinations of a home’s exact value.
Zillow – Zillow's home valuation is an estimated market value, computed by taking data points, mainly from public records, and entering them in a formula. When Zillow's statisticians developed the model to determine home values, they explored how homes in certain areas were similar (i.e., number of bedrooms and baths, and a myriad of other details) and then looked at the relationships between actual sale prices and those home details. These relationships form a pattern, and they used that pattern to develop a model to estimate a market value for a home.
Click here for more information, or Click here to contact Zillow.
Eppraisal – eppraisal.com evaluates a specified property based on its unique characteristics, such as location, square footage and number of bedrooms, and compares it to the sales of similar properties in the area. Using this comparable data eppraisal.com will generate an estimated value range.
Click here to contact eppraisal via email.
Reply! – Reply! Home Valuations are based on several factors including: relevant comparable home sales data, the physical attributes of the home, the parcel size, the home sales trends in the area where the home is located, and the general economic indicators in the area. While the Reply! Home Valuations account for many of the key factors that determine a home’s market value, the completeness and timeliness of the available information will vary from area to area. In order to address that reality, Reply! provides a confidence rating on their home valuation detail page that reflects the degree to which Reply! feels the available data can provide an accurate home value estimate. The confidence rating enables the consumer to easily gauge the degree to which Reply! has access to complete and recent information for a particular home.
Click here to contact Reply.com