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Zillow Website will
calculate what a Home is Worth – Offer’s Free Home Appraisals called a
Zestimate
February 8th, 2006
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Zillow.com offers
Zestimates |
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Every wonder what
your house is worth? Need to refinance your home or thinking of selling
or buying? The newly launched website Zillow.com, gives complete data
on your home value much like an appraisal service will do. It compares
other homes in your area, offers satellite photos of a specified
street. It also compares daily interest rates and housing prices in
general.
The Zillow website
calls there appraisals a “Zestimate” and offers daily tracking of your
housing price much like a stock market analysis. Zillow has a database
of over 60 million home prices. The majority of the prices are for the
West Coast, and they are working on expanding the data to reach across
the country. They have East Coast locations that cover Boston and many
home prices in Florida. If you are on the East Coast, their data will
reach your neighborhood soon.
The estimate tools
Zillow offers are more extensive than other online tools currently
available. The estimation tools allow for upgrades and repairs to help
to come to a more accurate appraisal.
This website
should be extremely popular, so much so, that at the time of the writing
their website was not accessible due to traffic overload. It is
definitely worth checking back with them in a couple of days to get your
appraisal done because it is free to do.
This is just a
tool in the process of either selling your home or refinancing. It does
not mean that the house would sell for the appraised price, it is a
calculation that helps to determine if a lender would loan on the house,
as well as how much is the market value of the home. It might be able
to replace the appraisal process of the sale of the house in the
future. But I would think that the buyer of the house still will want a
person to appraise it for them in person.
By
Nicole Wilson
Best Syndication Staff Writer
Real Estate
Keywords and Misspellings: refinancing refi
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