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Sharp Drop in in Property Value reflected on Home Value Site

Sharp Drop in in Property Value reflected on Home Value Site

gcs's avatar User  gcs  (Opens a pop up layer) Contributor

I am not sure where to post this, but I have a concern. We have been paying for home value monitoring and without obvious explanation the website suddenly shows our home value dropping by over 25%. The reflected value for the house is below every other representation of what it is worth than I can easily find, and there is not explanation I can come up with other than the USAA provided service is significantly wrong. Please explain how I can contact the vendor who is generating this result, so I can understand how they are arriving at this estimate? 

 

The service is of no value if it is not accurate, and until now I have relied on it to be a good bell weather of where we stand and unless I have missed some significant news about a toxic waste site uncovered in our backyard I am pretty certain the provided estimate is way ($150K-$200K) off.

Re: Sharp Drop in in Property Value reflected on Home Value Site

USAA Social Service's avatar User  USAA Social Service USAA Service

gcs, thank you for taking the time to share your concerns with us regarding the Home value site. I will be sure to send your concerns for further review. A follow up will be made to address this with you. Thank you. - Rhonda

Re: Sharp Drop in in Property Value reflected on Home Value Site

AnnaGrace's avatar User  AnnaGrace  (Opens a pop up layer) Contributor

Same thing happened to me for a month. Now it's back to the right value.

Re: Sharp Drop in in Property Value reflected on Home Value Site

USAA Social Service's avatar User  USAA Social Service USAA Service

Thank you for adding to this post about your experience AnnaGrace. ~ Lori

Re: Sharp Drop in in Property Value reflected on Home Value Site

Why Phi's avatar User  Why Phi  (Opens a pop up layer) Occasional Contributor

you pay for this?

Re: Sharp Drop in in Property Value reflected on Home Value Site

gcs's avatar User  gcs  (Opens a pop up layer) Contributor

It may come with home insurance, but one qay or the other we pay for it.

Re: Sharp Drop in in Property Value reflected on Home Value Site

Don1954's avatar User  Don1954  (Opens a pop up layer) Contributor

Did same thing to me what give

Re: Sharp Drop in in Property Value reflected on Home Value Site

USAA Social Service's avatar User  USAA Social Service USAA Service

Don1954 - Thanks for reaching out to us. I have forwarded your concerns for further review. A specialist will follow-up with you. We appreciate the opportunity to address your concerns. - Tricia

Re: Sharp Drop in in Property Value reflected on Home Value Site

USAA Social Service's avatar User  USAA Social Service USAA Service

Don1954,

 

We appreciate you reaching out in the community. The estimates provided are based on a number of local factors and real estate trends. Any slight change in these factors can affect the valuation provided. Keep in mind this is a free service offered to our members and these values are not used for loan or insurance underwriting purposes. -Gus

Re: Sharp Drop in in Property Value reflected on Home Value Site

gcs's avatar User  gcs  (Opens a pop up layer) Contributor

Hi,

 

I was the original person to open this thread, and I still have not seen an answer to my question. A shift of $160K in value should have a pretty strong reason, not a "variety of factors." I have looked at other sites, Zillow, Redfin and they do not reflect any change. I understand Zillow is inordinately optimistic in their valuations, but Redfin.com is usually close to the same valuation you had been posting. I am aware of no market issues in my neighborhood to suggest that my house would suddenly revert in value to $1k more than we paid for it 7 years ago. Something is wrong with your algorithm. 

 

Please advise in what format I should expect a response. This community does not offer the easiest following of threads.

 

Thanks,

 

Geoff

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