There was an article in today's NY Times about a new website called zillow that automates the real estate valuation process. It's pretty nifty.

http://www.zillow.com/

There was an article in today's NY Times about a new website called zillow that automates the real estate valuation process. It's pretty nifty.http://www.zillow.com/Oh, that's what it is! A buddy sent me that link this morning but the site was crashing all morning and I couldn't figure out what it was about.
VERY sweeeeeet!!!
But don't get discouraged if you just ran your home. I did a market analysis for a friend TODAY (it's been a while since I valued homes, but still...) I came up with $2.1Million and the Zillow site gave the same waterfront property a valuation of $1.2M. Still...a pretty cool site.

They also have lots of ways to fine tune their original estimate with their My Zestimator. You can adjust the value for things like renovations (new kitchen, etc.) and you can also alter the calculations by selecting your own comp properties rather than the ones the computer decides for you.

It's really cool. I wasted too much time playing with it last night!

http://www.zillow.com/howto/MyZestimator.z