Which is most reliable of the Appraisals -Zillow? Cyberhomes?

[ohhhdear]

I looked at my estimates on my home at Zillow and Cyberhomes.

Zillow is almost twice the amount than Cyberhomes.

At the same time, I believe Cyberhomes may be a little too low--close, but a little too low.

What estimate will Bank of America look at?

Which site is the most reliable?

Thank you very much for any info.

[hope67]

In my case, Cyberhomes is way more accurate, I compared their estimate to the prices of homes sold in my area, they are very close.

[Social Apocalypse]

Cyberhomes values my home a full $100K LESS Than Zillow. I don't know which is right, but I had an appraisal done last week and am expecting it any time. I'll let you know what it says!

[BadBobMo]

Zillow leans more towards what approx. County Taxes would valve your home to be for that year plus about 6% on top of that, now bear in mind that in Ca.
Cyberhomes leans more to what a home would Sale for per sq. ft. @ CMV in your area.
Now if you can't fell you own ass from being screw by "The Bubble" that you had nothing to due with, use this info and put a package together of recent sales and send it to your lender and ask for shared fairness. "Write Downs"
If you do not at least ask you are doing it their way (Timmy/Sheila=Bankers/Lenders) and making them very-very "Happy".
It's all Greed (don't just except the bone they through way)!!!
Fight On!

[Social Apocalypse]

That's why I paid for an appraisal, because I intend to use it for the glorious day when my servicers and mortgage brokers stand before a judge...

[sahm2two]

I was told when I first went for a refi that Countrywide used Cyber Homes. Cyber Homes is the opposite for me....it is higher than Zillow...But, I feel Zillow is way low and Cyber Homes is pretty close to being the most accurate

[KFish]

I just checked both zillow.com and cyberhomes.com for all of ours...

cyberhomes.com is lower on all 4...but (gulp) hate to admit it, definately more accurate on all.

[sahm2two]

Cyber says ours is $185k but it appears has not been updated since September 11. Zillow says $172k. So, about a 10% difference.

[jesse331]

Cyberhomes says mine is worth 90,800 while Zillow says 158,500

County Property Appraiser says 109,000 It appraised at 275,000 just 14 moths ago lol

What do you believe. I feel, based on our area that the $109K is pretty accurate.

[johngor]

I just checked my home Cyberhomes gave me 140k zillow gave me 176k. I owe 160 and if zillow would stand correct I would be on my way to refinance or my house would be put on the maket and get our of MI. This is not the case as we live in a townhome community where many are/were in forclosure. These all sold for 90-110k. Funny thing is that Tax value is 150k.

[yomann]

In our case, Zillow = $681K and Cyberhomes = $683K; so pretty darn close.

[momsgig]

If you go to BOA main page and then under the mortgage topic you can actually access Cyberhomes directly from BOA site where it says what is the value of my home. I've used it to pull up my value and printed it off with the BOA heading and used it as part of my argument when they without notice shut down my heloc. I believe it was part of the reason they reinstated it.

[Garry]

In reality none of them are accurate. The banks are holding foreclosed homes and trying to sell them through real estate firms. They are keeping home prices higher than what they should be by doing this. It's an artificial sense of security. When they have to dump the houses that do not sell, reality will hit, and people will be scratching their heads again.

[ohhhdear]

Originally Posted by momsgig

If you go to BOA main page and then under the mortgage topic you can actually access Cyberhomes directly from BOA site where it says what is the value of my home. I've used it to pull up my value and printed it off with the BOA heading and used it as part of my argument when they without notice shut down my heloc. I believe it was part of the reason they reinstated it.

]
Good for you!

I went to the Home Page and found Mortgage--- but I couldn't find Cyber homes under BOA....

[Garry]

Originally Posted by Garry

In reality none of them are accurate. The banks are holding foreclosed homes and trying to sell them through real estate firms. They are keeping home prices higher than what they should by doing this. It's an artificial sense of security. When they have to dump the houses that do not sell, reality will hit, and people will be scratching their heads again.

The same thing applies to short sales, thats why we hear about half the offers not being accepted. They think if they can hold the houses long enough the market will fix itself and they will take less of a loss. My thought is good luck to them, I don't see it working out. They should have used that tarp money to fix the housing crisis, help the home owners directly, but that would take trickle up economics and neither party apparently believes in that. The global economy is much more important than the people of the United States, nothing new to me.

[Garry]

When they talk about protectionism or what-ever when it comes to free trade and how wrong it is, I wonder if they would still feel that way if they lived in a state like Michigan, that's where I'm originally from. I watched all the factorys shut down one by one and saw all the people suffering because of it. I also saw the Government not lift a finger to help anyone, Michigan just fell off the map. When I hear people talking about all the poor looking for hand-outs, it pisses me off. Michigan isn't jobless by choice, they where forced into it by our Government.

[lisasxr]

ohhhdear - under the mortgage tab towards the very bottom is a link for Find my home value - this opens a new tab for cyberhomes. I printed it out as well with the BoA logo at top to show I was linked from their site.

I definately think CyberHomes is more accurate in our case than Zillow - Zillow reports $405K / CyberHomes reports $373K. Homes in our neighborhood are selling (slowly) the 2 most recent for 420K and 450K - but both had major upgrades - mine is original 1956. Also the home across the street is original 1956 but on a huge lot (15000 sq ft) its on the market for $420K (probate sale). My home is on a 6000 sq ft lot so the adjustment would bring the $373K to a more probable number. I'm ok with that - it's not a huge loss (we bought at $389K in 2004)

[Tartbird]

I actually think the Chase website value tool was pretty accurate for our area.

Tartbird

[Tartbird]

Wow! I just checked the Cyberhomes site and they are $37,000 less that the chase site. But going by home sales in our area I think the chase site is way closer to reality.

Tartbird

[Fedup]

Inflated Mortgage Pricing continues today on the web, in down markets and economic times, where many home owners are struggling to find a way to save the homes they’ve worked hard to keep and are now in a position of foreclosure by the likes of the investment banking and mortgage securities sector of the country, Wall Street!

I took a look at two, more than misleading, websites today and had to ask myself this question…..”where in the world did these people come up with this demented view of real property values”?

I refer to, Zillow.com and Cyberhomes.com. All you need to do after getting to their respective websites is follow the search prompts. Also the site ownership comes into question as to the “Who We Are” and the “About Us” pages. I’ve also found that many servicers use these sites…..”to make a determination of property value”!?

Thinking about things as I type, I would like to ask a question to the webmasters of these sites…..”who does your website represent” and “are you under a contract with a banking and/or real estate institution”?

In today’s market the majority of the properties I’ve looked at in my area were Inflated by upwards of 65K to 75K, as in thousands of dollars.

The Wall Street mantra marches on…..buy low sell high!

Funny, how much more of the movie Matrix, and subsequent episodes if you will, begin to make sense!

Gary