Who isn’t wondering what their home is worth today? As the real estate market and home values were skyrocketing between 2002 and 2006, we were all giddy about determining our homes value because it kept going up. Now we are all feverishly checking the values of our homes because we hear they are going down.
What I have found interesting over the years of using these free home value tools is that they don’t all list the same value for each home and each tool provides more or less additional information to help you get a better idea of your homes true value.
Below are 5 of the most popular sites offering a free home value. For comparison,we also include each site’s estimate for the same home and also share the most recent market value for property tax purposes:
Zillow could be credited with creating the free home value market online. While maybe not the first to provide such a service, the are surely the most recognized and used home value estimator.
The Zillow tool provides you with a “zestimate” of your homes value, an average monthly mortgage payment based on that value and current mortgage rates, and also plots the home on a satellite map.
Zillow estimated our subject home’s value at $268,000
Click here to find your homes value using Zillow
In addition to your homes estimated value, the results from the Chase tool also include the sale price for the last sale of the property and list comparable homes in the neighborhood that have recently sold. This tool also plots your home on a satellite map.
The Chase home value estimate for our subject property was $328,000
Click here to get your free estimate from Chase
The free home value tool from RealEstate.com does something a little different when showing your home’s value, the put the value on a sliding scale from lowest to highest estimate value and indicate the mid point as most probable.
This tool also plots a number of comparable home sales used in the estimate on both a map of your neighborhood and on a graph of values.
The RealEstate.com tool is also quick to point out that you get your home value estimate without having to give up any contact info, which is also true for Zillow and Chase.
RealEstate.com estimated our subject home’s value at $311,200 with an estimated range between $248,960 and $373,440.
Click here to get your free home value from RealEstate.com
We found this site because of an ad we saw that clearly stated “no registration required” which was exactly what we were looking for. The eppraisal.com tool gives you both their home value estimate and compares it to Zillow’s zestimate so you end up with two different values. In our case, the eppraisal estimate was higher.
In addition, if you scroll down far enough, most people won’t, you can also see a list of recently sold homes in the area.
The home value estimate from eppraisal.com came in at $317,905.
Click here to get your free home value from eppraisal.com
This site, while highly publicized and promoted, was the biggest disappointment for us and we didn’t even check our homes value using HouseValues.com. The reason being that unlike all the above sites, House Values requires registration in order to get your free home value.
They then share this information with a participating Realtor who will call you to set up a meeting to come to your home and share the results with you. This is about as counter intuitive to providing information on the Internet as it gets.
Click here to get your property value estimate from HouseValues.com
In Summary, here are the four home values compared and the average value for our subject home from all four estimates;
As an interesting point of comparison, we were also able to get the most recent market value provided by the county for property tax purposes, $280,200, which was noticeably lower than all of our free home value estimates.
This particular county is know for valuing homes at between 10-20% below market so if you factor that into the comparison, they are all pretty close with the exception of Zillow.
Read our upcoming post, 3 Ways to Determine Your Homes Value, which explains the different ways you can get your value and compares them based on cost and accuracy.
Feel free to let us know about your experience with any of these tools by leaving a comment below.