Zillow.com Update
Earlier this month I wrote about a new website zillow.com that provides instant market estimates for any address that you type in. When I initially checked the site out, it had just been written up in the Wall Street Journal. It probably got overloaded and shut down. The site's back up, but it's still in beta form. I checked out my address in Indianapolis, and Zillow only had 1993 property tax assessment. This wasn't completely worthless though, because it also provided the appraised value for all the neighboring houses. If you assume that even if the appraised value is proportional to market value even if it bares no fixed relationship to market value, then if you know the selling price of a neighboring house, you should be able to get a ballpark estimate of the value of your house.
I checked out a relative's house in Florida and got what appeared to be a pretty reasoned estimate. Overall, Zillow shows a lot of promise.
Zillow.com - Your Edge in Real Estate
Tuesday, February 21, 2006
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