This is a very interesting video by a new friend of ours Greg Cooper, who is an Indiana Realtor. He makes some very interesting and very important points regarding on-line home valuations. Anyone wanting to know the value of a property should watch it.
The scary part of this that he doesn't touch on is that Banks often times use on-line valuations to gauge the accuracy of the appraisal reports the Appraisers send them.
He points out that the valuations available on-line are computer generated and have no understanding of local markets. At P.A.R.R. we have seen these valuations be as much or more that $100,000.00 less than a recent sales price of a home.
Please watch the video.
http://www.wthr.com/category/239154/real-estate-update
Thank You for Reading.
P.A.R.R.
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