Borrowers often times over estimate the value of their homes and property.  This can cause problems for loan production staff trying to structure potential loan offers.  Our Valuation Tools can assist in determing if a borrower has enough equity in their property, or whether a properties' sales price is an accurate reflection of its market value.

 Free AVM's

Automated Valuation Models (AVM's) generate values based on analysis of comparable sales, market trends, and public records data.  They typically return a value range for the subject, as well as the sales price and location of recent sales.  The primary advantage of an AVM is its speed and efficiency. However, AVM's often do not take into account the condition of the subject or recent sales, as well as external factors.  In addition, AVM's rely on public records sources, which are frequently outdated and inaccurate.  Even with these limitations, AVM's can be a valuable tool for loan originators when pre-qualifying prospective borrowers.

Cyberhomes Online Value Estimator

RealEstate abc Home Values

Eappraisal Online Value Estimator

Yahoo Real Estate Online Value Estimator

Real Estate Listing Sites

Real estate listing sites may be a valuable tool when used in conjunction with public tax assessment data. Real estate listing sites utilize multiple listing services (MLS) databases of current real estate sales listings.  The amount of information provided varies.  Some sites are national, while others may be regional. 

Viewing what similar properties in a subject’s market area are listing for may assist in determining a value range for a prospective borrowers' home.  This is done by comparing known data about the subject obtained from the Borrower and Public Records, compiled with data regarding comparable listings obtained from one of the public sites below.  The more similar a comparable is to the subject with regards to square footage, lot size, age, etc, the more useful it is in helping to determine an accurate value range.

Utilizing tax assessment amounts may be helpful as well.  Seemingly similar properties may have widely differing tax assessments.  This can be a sign that there are some major differences between the properties which may not be apparent.
 

Days on market should be taken into account as well.  If a property has been on the market for a long period of time, this can mean that it is over priced, or there may be other adverse factors to consider.
 

Finally it should be noted, that real estate listing sites reflect a properties current listing price.  Often times there is a difference between what a property lists for, and what it ultimately sells for.

Realtor.com

Trulia

Cyberhomes

Yahoo Real Estate

Public Record and Assessment Sites

Netronline

Assessor Links USA