Stromprophet
Preferred Member
Cash: $ 26.30
Posts: 127
Joined: 09 Sep 2006
Location: Indiana
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| Home value calculators |
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I am looking for a good home value calculator. The ones I'm finding online all just approximate home value by what the owner paid and how long ago they paid for it.
To me this would be very innacurrate. 1) What if they paid too much for it in the first place 2) Do these calculators take into account that home have not appreciated in the last 2 years?
I'm looking for something more along the lines of taking into account several things.
1) Land (acerage)
2) Exterior Material: i.e. Brick, Vinyl, Aluminum
3) Square Footage
4) Basement/no Basement
5) Garage (attached/detached)
6) Amenities - Pool, Fireplace, Hardwood Floors
7) Location (City, Neighborhood)
 Furnace Age, Roof age, etc.
9) Appliances
10) Foundation Construction
I would have thought I could find a calculator that simply has these selections and the value it adds to a house. Apparently the only way to compare homes is by home appreciation. Maybe it's just me, but that's a pretty shoddy way to compare homes especially when you're shopping in one city and trying to compare similar homes that offer different things.
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Fri Mar 30, 2007 5:46 pm |
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No-Brainer
Senior Member
Cash: $ 83.45
Posts: 986
Joined: 29 Dec 2005
Location: Oregon USA
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| Re: Home value calculators |
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quote:
Originally posted by Stromprophet
I am looking for a good home value calculator. The ones I'm finding online all just approximate home value by what the owner paid and how long ago they paid for it.
To me this would be very innacurrate. 1) What if they paid too much for it in the first place 2) Do these calculators take into account that home have not appreciated in the last 2 years?
I'm looking for something more along the lines of taking into account several things.
1) Land (acerage)
2) Exterior Material: i.e. Brick, Vinyl, Aluminum
3) Square Footage
4) Basement/no Basement
5) Garage (attached/detached)
6) Amenities - Pool, Fireplace, Hardwood Floors
7) Location (City, Neighborhood)
Furnace Age, Roof age, etc.
9) Appliances
10) Foundation Construction
I would have thought I could find a calculator that simply has these selections and the value it adds to a house. Apparently the only way to compare homes is by home appreciation. Maybe it's just me, but that's a pretty shoddy way to compare homes especially when you're shopping in one city and trying to compare similar homes that offer different things.
In my opinion the only way you will get that kind of detail with any accuracy is from a full blown appraisal.
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Fri Mar 30, 2007 9:22 pm |
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Stromprophet
Preferred Member
Cash: $ 26.30
Posts: 127
Joined: 09 Sep 2006
Location: Indiana
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quote:
Originally posted by coaster
This isn't what you're asking for, but if you're looking at a specific property, can give you some pretty good information:
http://www.zillow.com/
I do know the addresses, so this will help. I also found a website that tells you what homes have sold for in the area with exact addresses for comps, and also one you can enter the address and it will bring back an estimated price range.
This is a step in my plans for the year. Good timing it looks like, I've seen houses coming down 20,000-30,000 dollars. One in a really nice neighborhood here I have seen dropped from 250,000 to 160,000.
Thanks Coaster.
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Mon Apr 02, 2007 4:12 pm |
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muneebgs
Member
Cash: $ 2.75
Posts: 12
Joined: 08 Feb 2007
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Here's a whole list of home value calculators
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Tue Apr 10, 2007 3:09 pm |
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Stromprophet
Preferred Member
Cash: $ 26.30
Posts: 127
Joined: 09 Sep 2006
Location: Indiana
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Most of them are not actually that good, and they also require pretty extensive knowledge of the property in question. Meaning they are more for the seller than the buyer. They require the year of purchase, and often the purchase price.
http://www.bankrate.com/brm/news/real-estate/20040304a1.asp
Bankrate had a pretty good article for this subject though, on the buyers side.
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Tue Apr 10, 2007 5:37 pm |
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austin
Contributing Member
Cash: $ 7.20
Posts: 36
Joined: 29 Jun 2007
Location: Austin
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| real estate calculator |
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I dont think their will ever be to accurate of an estimate online. Their are too many factors. And city zoning rules play a factor and they are constantly changing so by the time a calculator is written its going to be outdated. I like zillow but its pretty far off in alot of cases. I think the best thing to do to make sure you are getting a fair deal is to know the market really well or work with someone that does.
I dont know your market but I usually concentrate on lot size and location. Things like appliances are pretty almost irrelavant part of the equation.
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Fri Jun 29, 2007 9:18 am |
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