Originally posted by Scott M.:
I seem to be a lone voice on BP about using appraisers to pull comps in areas where your not familiar - and before you close on deal even then (if an appraised value is going to be an important number - if your buying with cash and holding the value isn't all that important.
Zillow / realtor.com etc are jokes for comps - maybe to get an idea of what the home was worth a year ago use those sites :)
Realtors are not very good at it either and if your deal is contingent on financing - meaning you HAVE to know the value - spend the $25-$100 and get an appraiser to pull you the real deal comps.
I'm suggesting using Zillow with other sites. Zillow gives great details as well as the mileage which some other sites don't give and B of A is pretty darn accurate.
I have friends that are mortgage brokers who use an appraiser to get their comps but just to get a quick overview to determine if a place is worth even fooling with, I prefer to just pull something up online quickly,.