What gives with home appraisals on Yahoo Real Estate ?
I took real estate appraisal classes back in the 1970′s and learned some basics. I look on-line at the Yahoo home values and find that Zillow values my home at $167,000 and e-appraisal at $102,000. The 10 comps show an average of $147,000. What gives here ? I do not understand how the appraisals can vary by such a huge margin. This is in the Las Vegas area and we do have the highest foreclosure rate in the Nation. My tax appraisal dropped to $267,000 this year because of the decrease in values. Not interested in selling, just curious as to how such a wide variation between Zillow & e-appraisal is possible, when both should be using the same data.
Online appraisals are toys, not real appraisals at all. Do not take them seriously.
Zillow iPhone App
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