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Does anyone else use this website? It's pretty awesome. It gives you approximations of current home values on a google-like map. It also lists all sorts of details about individual home specs. It’s a great way to compare your house to your neighbors.
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I believe it is supposed to be based on assesment amount not appraisal amount so maybe that is what you are finding inaccurate, they use the reported records for the parcel...
Aha! Good to know. My ex used it to look up my house and he said, 'gee, they're in the ballpark according to Zillow, but that seems awfully high for that house.' OK, I'll call a realtor tomorrow about real Comparables.
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Yes, the appraisal amount will not be very accurate if a comparable house in your neighborhood has not sold in a while. Also, the appraisal amount will very greatly depending on the appraiser. When we refinanced last year our second appraisal was nearly $50,000 higher than the first because the first guy was waaaaay too conservative and was basing his value on a house that had sold nearly a year previously.
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