Question: Online home value estimators use a computer-generated algorithm that bases a home's value on the sales comparison approach to estimate a sales price. The values
Online home value estimators use a computer-generated algorithm that bases a home's value on the sales comparison approach to estimate a sales price. The values are derived from automated computer modeling from public sales data and generally will not represent the true value of the home. These estimators can give a rough estimate, but have an overall large margin of error. Research the value of a home in your area using one of the home value estimator sites below. Provide the value. In your post provide commentary on the values provided, and the appropriateness of the comparable sales properties. Using our textbook, were the factors in the adjustment process considered? What are the major differences in the comparable properties adjustments to the value of the subject property? Also discuss any local market conditions such as increase/decrease in the number of homes on the market in the immediate area, and current economic conditions that might be affecting the home prices.
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