What is an eppraisal?
An eppraisal is an estimated market value of a property, which is calculated
based on recent sales of similar properties. In addition, an eppraisal includes
detailed property information and an analysis of the differences and similarities
between each comparable property.
How is an eppraisal
value calculated?
We use up to 20 properties to calculate an eppraisal. We use a proprietary
mathematical formula which takes into account each property’s characteristics and
how the property affects the market value of properties in the area. Using these
factors, we calculate a value range.
The information
you have on my property is incorrect. Is it possible for me to change it?
You can use the User Edit feature to update your property information. Please note
that this will not update your eppraisal estimate. It will however alert other visitors
to our site that our data has been updated.
How can an eppraisal be used?
An eppraisal can be used as a starting point when seeking to determine how much
a house is worth. However, we recommend
that you consult with a real
estate professional to obtain a real-world appraisal on the property
you are interested in.
How do you arrive at a value range?
The value range will depend on how much data we have for the properties
used in the calculation. The more data we have, the tighter the value range will
be.
How current is the data in your database?
Our data is cultivated from a variety of places. The majority comes from public
records. Since each county keeps its own public records, we are dependent on the
entry speed of each county. We then need some time to retrieve and compile the thousands
of new documents submitted to public records each day. Keeping that all in mind,
a real estate transaction which took place yesterday will not be in public records
today, and a transaction which was entered into public records today may not be
reflected in our database tomorrow.
Why is there no estimated value
range included in my eppraisal?
This may be because the data needed to calculate the range is not available. For
instance, if there is no square footage available for the subject or similar properties,
then we will not be able to calculate a value. To find out more information about
this property, consult a
local real estate professional.
How do you decide which comps to use
to estimate the value of my home?
Our eppraisal engine is designed to evaluate your property against similar
properties with like features. For example, the system will only evaluate a 4 bedroom
house against other 4 bedroom homes in the area. In addition, we have set rules
in place to only evaluate recent sales that are the closest in proximity to your
home
Why are there no
comparable properties for the address I am viewing when properties have sold in
the area recently?
As stated above, we try to match your property to the most "like" properties
in the area. These rules give our engine better accuracy and relevance, but sometimes
we will not be able to find comparable properties that meet these strict rules.
In these cases, we will defer to local real estate professionals to assist us with
evaluating your property. Search our agent directory to find one!
I just completed a renovation of my
home. Will that affect my eppraisal estimate?
Renovations will not be taken into account when estimating the value of
your home. If you have added rooms or square footage, you should have it recorded
in the public records for your county. We may be able to pick those additions up
in our database which would then affect your eppraisal.
Why is the estimated
value range too low or too high?
One explanation of this is that you live in a non-disclosure state. A non-disclosure
state means that the state does not allow sales data to be on public record. Therefore,
we estimate the sales price using other data indicators. These indicators will not
be as accurate as having an actual sales price.
Non–Disclosure States:
Where do you get your data from?
Our data is compiled from county public record systems throughout the 50
states as well as several mortgage and title data sources. Each county sets limitations
on what data is available in public records; therefore we are also limited in what
data we can provide you.
What is the eppraisal.com
Professional Directory?
The Professional Directory is a directory of real estate professionals. Consumers
using eppraisal.com can search the directory to find a professional in their area
or an area they are looking to locate to, to ask questions and possibly become a
client of.
What are the benefits of being a part of the Professional Directory?
I found my information on your
site, but I have never signed up with eppraisal.com before. Where did you get my
information?
We aggregated information on local real estate professionals from many
different public sources. If your information is incorrect, you can update it by
signing up for our Professional
Directory.
My information is incorrect.
How do I edit it?
If you have not already signed up for the Professional Directory, you can
sign up
to edit your information.
If you are already a member of the Professional Directory, you can sign in to your account and edit your information.
How do I remove myself from the Professional Directory?
If you have signed up and created your profile, you can sign into your account
and remove it. If you have come across your profile and would like it removed, go
to the Contact Us page and send us a message with your name and location. We will
remove you.
What information do you provide
in your API?
Our API provides home value estimates. We provide a value range consisting
of low, middle, and high values.
How much does using the API cost?
The API is part of our Professional Network. You only pay for becoming a member of our network. You must also adhere to our Terms of Use.
Do you have limits on how many API calls
can be used?
There are call limits on our API. It is set at 1,000 calls a day. If you require
more than that, we can evaluate it on a case-by-case basis. Contact
Us to discuss your request.