Chase customers can take advantage of home value comps reports offered online but as accurate as one from your local relatorbecause they’re done by a local agent. Chase offers a home estimator on its website but even they call it an estimator. When you’re talking about a purchase thats usually six figures you need a more accurate assessment of a home’s value as 5 – 10% off could cost you tens of thousands over the duration of your mortgage.
Chase’s estimator notes this on the page. They’re basically saying here is a guess but don’t put money on it being accurate.
Zillow, Trulia all offer estimates on a home’s value with little context about the neighborhood or the home. They rely on reports from open records but those aren’t even available in about half the states they cover.
You can have the accuracy of an agent created report with the ease of an online site today. RealEstateCompsToday.comcan usually provide you with the information that Chase Home Estimator doesn’t have access too in a couple days.
The ordering process is fast and accurate comps start at around $5. So before you chase home value get an agent report to know how much you’re chasing.
A recent article on this very subject includes a mock home value search. The challenge is before you accept the value provided by these automatic guessing sites, compare 3 or 4 other sites. If you get a difference of more than 10% those tools failed your challenge and you should get an accurate home comp.