Fairfax Housing Prices End of Summer

When I first discovered Zillow, it was fun to look at the predicted value of my house. Then the market shifted drastically and it was like watching a train wreck in slow motion – like 18 months long slow motion. Well, the last couple of months might be signaling a trend on the upside. The recent absolute chaos in the financial markets might be the cathartic event that the markets can build a bottom from – real estate markets included. The arterial disease of low liquidity in the lending markets may benefit from this emergency surgery paramount to a quadruple bypass being done three or four times.

So, how do things look as per Zillow for the real estate markets in Fairfax – namely my house?

* Zestimate: $384,000
* 30-day change: $3,500
* Value Range: $345,600 – $403,200
* Last updated: 09/17/2008

Yeap, that is up from $381,500 a month ago. Okay, I am not going to get excited about $3500 increase, but the positive direction is a nice change.

CyberHome Estimate: $376,629
Change over last month: $9,797
Estimate Range: $338,966 – $433,123
Last Update: August 22, 2008

CyberHomes does not update as often as Zillow does – I guess I am a couple of days early for their update.

A new place I have found is Eppraisal, so let’s look at their numbers:

Eppraisal Estimate: $414,946
Estimate Range: $352,704 – $477,187

They don’t give a monthly change in predictions, so I will need to track that. Of course I like Eppraisal’s point prediction the best! But with a range of $120K for the estimate, I wonder how accurate it would be if an actual appraisal was done. Of course, Cyberhomes has a estimated range of $100K, but Zillow has a tighter range of “only” $60,000. It is all fun and games anyway – I will let myself believe the Eppraisal estimate until one of the other services comes up with a higher number!

This entry was posted on Saturday, September 20th, 2008 at 10:13 am and is filed under Stock Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Fairfax Housing Prices End of Summer”

Brett on October 19th, 2008 at 1:40 pm

Brett Shaw from Cyberhomes:

Thanks for visiting the site! I think you understand the “estimate” better than most. I disagree with the “fun and games” statement, but it is not meant to be a completely accurate appraisal of your home. Our valuation tool is meant to be a starting point in the quest to get the home’s true value. Always consult with a local professional. Just curious if you went into the change value section to narrow down your value?

If you’re looking at your home on these sites, check out the other local information that Cyberhomes.com has to offer. You gan get a complete snapshot of your community from crime to commute times!

Now wouldn’t it be nice if we could just shop around for the highest value and then run with it.

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