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Zillow Website will calculate what a Home is Worth – Offer’s Free Home Appraisals called a Zestimate

February 8th, 2006

Zillow Website will calculate what a Home is Worth – Offer’s Free Home Appraisals called a Zestimate

Zillow.com offers Zestimates

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.

 
 
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By Nicole Wilson
Best Syndication Staff Writer

Real Estate

Keywords and Misspellings: refinancing refi home loan homeloans refinansing apraisel appraisel home evaulation free home inpection how to estimate home value selling your home for what it is worth housing track price estimate zilow.com sillow.com zestemate zestymate


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Copyright 2005 Best Syndication                                     Last Updated Saturday, July 10, 2010 09:49 PM