We appreciate you reaching out in the Community. The estimates provided by Home Value Monitor are based on several factors These factors include specific characteristics of recently sold homes in your area, publicly available data by location and real estate trends in your area. Changes in any of these variables can impact your estimated market value. It is important to remember these are just estimates we provide our members for reference. These estimates are not used for insurance underwriting or home equity decisions. -Gus
Our home and property (10 acres) has a market value of 540,000 and USAA was tracking this pretty closely with the Home Value Monitoring, however it has dropped to 270,000 and has been there for 2 months. If USAA is going to offer this tile/module it needs to dedicate an entire team to ensure values are accurate. It is not difficult, if Realtor, Zillow and Trulia stay on top of market values, what is the problem? Rely on Tax Records which can offer appraisals (standard) and DO NOT rely on "sales in the surrounding area"....this is a flawed metric, especially for me, as our home is 2,500 sq foot with a 3-bay pole barn, on 10 acres with a pond ..... while 1 mile away, at the end of our road, sits a trailer on a 1 acre lot that is falling apart. I will just delete this tile/module if it cannot be maintained and updated by USAA (no value added) only because it is super annoyingto see it not updated.
Good morning, @UpNorth. We value sharing relevant data with our members to help them make informed decisions as this is a free service to members. To achieve this goal, we have relationships with industry leading data organizations to power the estimated market value, cost to rebuild, and historical tax information. These values are updated regularly to ensure members receive what they need when making decisions regarding one of their largest investments.
This estimate is based on a number of factors, including specific characteristics of recently sold homes in the area, publicly available data by location, and real estate trends. A slight change in any one of these variables may affect the determination of the estimated market value. This estimate is not used within either the USAA insurance policy or a potential USAA home equity underwriting decision. The information that Home Value Monitoring displays is provided by the nation's largest provider of property and mortgage data. It is computed using a variety of data sources including:
In addition, details such as home characteristics, geography, and sales activity in the area over a specified period of time are fed into a database and then provided to USAA.
Thank you for your post as we hope this information is useful and helpful. -- Shawn G.