Sharp Drop in in Property Value reflected on Home Value Site

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Army Navy 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.

13 REPLIES

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

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

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

you pay for this?
It may come with home insurance, but one qay or the other we pay for it.
Did same thing to me what give

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

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

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