Comments on: eppraisal.com National Real Estate Market Analysis Report

By: Carmen Arruda

Carmen Arruda — Fri, 26 Mar 2010 16:21:13 +0000

I always thought the on line sites like eppraisal were good at estimating within 10% – 20% of value. Now, with the down market their formulas don’t work AND drive sell prices DOWN. I just looked at a house I own and it valued it at $800k.The house next door sold 2 months ago for 890k.
The market is currenlty going down. These sites will have challenges keeping up with that. This is a very challenging market.

Zillow has always estimated on the high side.

Carmen Arruda
Fidelity National Title

By: Scott

Scott — Fri, 03 Jul 2009 03:00:08 +0000

And by the way the 150m was actually over the consesus estimate which means we actually lost over 450m jobs – see bureau of labor statistics, US dept of labor

By: Scott

Scott — Fri, 03 Jul 2009 02:49:33 +0000

Don’t believe everthing you read…Where are stats taken from? How many sales in each makets are tracked to determine increase or decrease? Muskegon up 60% to 44k, That means they rose from approx. 27m, what kind of home are we talkin here? Humble guess, the banks have more inventory than they know what to do with. Why does it take 2-6 mos to even get a short sale through? They may be a little busy. Websites who know home values? There are so many sites, find the one that suits you best and go with that one I guess. Not sure, but we may not be quite out of the woods yet…

PS Unemployment rose by over 150m today.

By: Bob

Bob — Fri, 03 Jul 2009 00:49:59 +0000

I always thought the on line sites like eppraisal were good at estimating within 10% of value. Now, with the down market their formulas don’t work AND drive sell prices DOWN. I just looked at a house I own and it valed it at $602k.The house next door sold 2 months ago for 830k?!?!?!?

Zillow has always estimated on the high side but this time got closer at 707k?