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Home value estimates ... October update

October 18th, 2016 at 01:33 pm

Today's estimates of my home's value:
Eppraisal: $462,930
Zillow: $607,769

These are even more wildly divergent than the September estimates:
Eppraisal.com $474,269
Zillow $586,363

If we paid all closing costs including escrow, we'd still need to be valued at $501,988 to qualify for a private loan with no mortgage insurance. So, I'm still not ready to pull the trigger on an appraisal.

4 Responses to “Home value estimates ... October update”

  1. rob62521 Says:

    Wonder why there is such a discrepancy from the September estimates.

  2. CB in the City Says:

    I've always found Zillow high. I look up house values as part of my work, and I rarely use the Zillow estimate. I use the middle one if I can find three estimates.

  3. Jenn Says:

    CB, which estimate do you recommend? I ask because I use Zillow when calculating my net worth but if it's not very accurate (or conservative), I shouldn't.

  4. jokeabee Says:

    I find with my rental house Zillow is very accurate-but that house is in a market where there are a ton of comps and houses in the neighborhood regularly for sale and selling. For the house we live in, Zillow estimates the value at 30k less than we paid for it (and it was appraised for 5k more) so I think it depends on the market.

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