Market Value Websites: How Good Are They?

Author: John F. McDonald

Start Page: 223
End Page: 230
Volume: 14
Issue Number: 2
Year: 2006
Publication: Journal of Real Estate Literature

Abstract: Several websites now provide detailed information about house prices around the nation. This short note is an examination of the most popular sites. The question asked is whether a site can give an accurate free estimate of the market value of a specific house. And, can that estimate be provided quickly—even instantly? After a brief look at several sites, this report concentrates on Zillow.com because this site is one of only two that provides a free estimate instantly (the other is Domania.com), and because it is the only one that provides detailed information. Other sites such as HomeGain.com, ZipRealty.com and HouseValues.com provide information on comparable sales very quickly. Taken together, the available websites can provide the user with a great deal of good information.