Asked by Liz, California • Wed Apr 22, 2009
My (unprofessional) assumption is that they would seem to provide a good general estimate of the market, but they probably can't account for the details that an appraiser would take note of. What is the margin of error with those online market value estimators? Do they generally tend to reflect lower-than-market values, or higher-than-market values? I also notice some major lenders, like Chase.com, have similar online property value estimator tools. Is one source more reliable/accurate than another, based on your experience? Thank you.
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