Web Value for Homes - Better than Zillow!
Dec 20th, 2007 | By cboatright | Category: Free Resources
I’m going to let you in on a excellent short sale resource that I use and it won’t cost you a penny.
Zilch…Nada.
I want you to check out this website right now.
Go ahead… type in your home address.
Now… isn’t that MUCH BETTER than Zillow?
Yup. I agree too. That is why I use it for a reference on our short sale deals. Did you see the tabs after you click on the Detail Page View? It shows you:
- Comparables
- Sales and Tax Info
- Refine Value
- Neighborhood - Population, Quality of Life, Age of Population, Marital Status, Households with Children, Race and Ethnicity, Occupations, Household Income, Registered Voters, Commute Time to Work, Air and Water Conditions, Comfort and UV Indices
- People
- Economy
- Schools
- Weather
- Area
- Market Analysis
- Average Sales Price
- Average Sales Price Vs. Living Area
- Sales Count by Price Range
- Sales Count by Price Per Sqft
- Sales Count by Living Area
- Sales Count by Age of Home
- Sales Count by Bedrooms
- Average Price and Sales Volume
- Average Price by Living Area
- Average Price per Bedroom
- Market Fundamentals
- Media Single Family Home Price
- Price and Employment
- Unemployment Rate
- Building Permits
- Rental Vacancy
- Buy/Sell Indicator
- Market Maps
- Home Value Estimates
- Change in Home Value
- Estimate Per Sqft
- Housing Density
- Buyer or Sellers Market
…not to mention a TON of really cool views such as; List View, Column View, Google Earth, Google Maps, Full Descriptions and MORE!
They Rock!
I hope you bookmark and enjoy this resource.
This information can come in VERY HANDY when presenting your backup ammunition to the loss mitigator to justify your purchase offer.
I hope this helps.
Remember… be a servant,
Cory Boatright
Loss Mitigation Specialist
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Wow, This is GREAT! I will be adding this to my pre-comp analysis.
I did not know my house could be worth so much, but then my house also has lot more SQ FT that listed (sush – less taxes).
I’m kinda of scared, they have a photo of my hot tub in the back yard from my single days….he he ha.
I assume that you try to use the lowest comps for shortsales?
What resource other than the BPO do loss mitigators look at? What value do they place cyberhomes, zillows, and county assessors? Is it worth the time to get all of them as justification for an offer?
Ron
Thanks for posting this, Cory. I’ve been using Cyberhomes for a while now and especially like the appreciation heat map.
I do think the site tends to give property value estimates that are a bit high. I’d also be curious to know what loss mitagators think of Cyberhomes comps.
Remember…. you this as a reference only. It will can help you justify your offer for the short sale real estate property.
And the important thing is-it has the most recent information!
Zillow is behind in recent sales at least for 1 mo. Title companies also.
Cyberhomes has the most recent sales
Thank you, Yunona
As with Zillow, it appears this website cannot provide accurate data for a non-disclosure state such as TX. Although my home is only just over 1 year old, the estimate on Cyberhomes.com is over $100,000 below it’s true value. That means this estimate is only about 68% of it’s actual value.
It still seems that without the MLS, we are still lost here in TX when it comes to finding comparables.
Thank you Cory for this gift. Way better than zillow.great point of reference
Pazzo
Cory thanks for the tip. I like their method of presenting the data however as with Zillow I only use these “FREE” sites for basic info such as demographics etc.,as FMV accuracy is questionable. Cyberhomes was over $450K below a current appraisal on my own residence???? If someone is looking for up to date Comps you will get them at SiteXdata.com for a fee.
Gotta agree with Gary on this one. Zillow is WAY off on properties here in the greater NYC/Long Island area as well. Although free is good, accurate data is better and worth paying for. Although I don’t use SiteXdata any longer (I just text my appraiser and I get info emailed to me), it played a HUGE part in my evaluation process when I was using it. I do agree Cyberhomes is pretty awesome for initial eval purposes… For my area, nothing is better than Propertyshark.com.
Cory, I listened to your short videos concerning short sales. Unfortunately I cannot afford that price. I live alone & I live paycheck to paycheck so that price is out of my financial range.
Depressed newbie
Yes, cyberhones is astounding with the aerial photos of properties greatly enhanced.
and all the amentities/analysis content with one shortfall.
I found the realtors advetising their property on cyberhomes, the subject
property is shown to be the listed price by the realtor, not the value of the property.
How do I assess the current market base line value of the subject property to be
in accordance with the displayed values of the neighborhood properties?
Solution : by using Zillow and Realquest.com, both these resources displey
the listed price and the sites’ algorithim “zestimate” valuation in accordance
with the neighborhod displayed guestimates of value.
A quick method of guesstimate value is use the adjoining neighborhood
values displayed and divide by the number of bedrooms equals the value per
bedroom of a like kind of home with the same number of bedrooms as the
subject property.