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Old 2011-11-18, 11:46 AM
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gerapau gerapau is offline
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Originally Posted by hellokittygirl View Post
I guess if you have a "cookie cutter" home then this would suffice but at the end of the day
Only if the recent sales in your area have been cookie cutter homes.

Originally Posted by hellokittygirl View Post
But as gerapau stated, (and I'm in the same boat) when you have expensive upgrades like a custom wood (not MDF kitchen), lot premium, basically the QUALITY of upgrades then online tools would be doing you an injustice and significantly under value your home.
The funny thing is that I am in the opposite boat. When we recently purchased our new home we spent over $125k in options/lot premiums. So I would expect this tool to underestimate our home but in fact this tool gives me an evaluation that is roughly $100K more than what our home is worth. The problem is that similar homes that have sold in our area recently have mostly been golf course lot homes with tons of upgrades.

This tool may be usefull if you are interested in a very rough idea of what you home is worth but if you are planning on selling your home this tool is more or less useless (to me, any number that isn't reliable is more or less useless). If you want to know what your home is worth then you have to look at recent sales in your area and adjust based on the features of your home compared to those homes. Unfortunately these numbers aren't available to most people and that is where a realtor would come in.
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