My comment: This is a really great article written by a successful appraiser in Alabama. He discusses some very relevant information including tax assessments (which are set to come out very soon in San Juan and Skagit counties), Zillow, pre-listing appraisals, return on investment for home improvements, and using the cheapest appraiser available :/
For all my Zillow and Redfin loving friends. Please read! The margin of error in San Juan County is one of the largest in the state for these AVM’s to be accurate. Recently, Zillow told me my own home dropped in value by 37.5% in one month, using comparable sales from other counties (Whatcom, Lummi Island) and properties that were not even remotely similar in location, view, site or size.
Since its inception, Zillow’s home-value calculator, know as the “Zestimate” has been one of the most controversial features of the company’s real estate portal. Zillow co-founder Rich Barton openly admitted to GeekWire that the tool is “very provocative and personal and a little voyeuristic.” Continue reading