Hey Everyone,
Of the people who have signed up to investar, have you found the 'my valuer' feature to be accurate or inaccurate of actual value?
Im in Victoria so access to RP data is limited and ive found the 'anonymous' sales data difficult to apply to valuations.
Albro
Albro,
I have Investar Search and My Valuer valued my property at $670-$750k with a bank valuation coming in at $760k some 3 months ago.
IMO that's reasonable close to bank valuation,but in saying that bank valuers are generally on the low side..
Regards
Coota
Coota,
Cheers. Ill see what others say too.
Im pretty sceptical of these sorts of things. But if there is sufficient evidence, ie past sales, to back up the estimate then i would be comfortbale with it.
If you dont mind me asking, when you did a valuation on your property how many relevant sales were there and what colour and number did it come up as? During their presentations they say different valuations come with different confidence scors.
Aleks
Albro,
My report came up with a confidence score of 2 which is very high,relevant local sales came up with 10 relevant previous sales.
Regards
Coota
Don't get me started with valuations – we've had a couple of shockers this week that we're currently trying to sort out. Some of the valuers must be coming straight from Christmas parties to value the properties.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I use investar (APM), Price finder and RP data…they all provide different results and data…hard to tell which one is better as it depends on the "data" it splits out….im more focus on the past sales and "data" rather then the end figure, as sometimes these program could be comparing a property that's has undergone full renovations + has a pool…compared to a standard property still in it's original conditions…
Mick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Jamie,
I must have got one of the sober ones. Had one earlier this week in a not so nice suburb of metropolitan Melbourne which I and the client thought was going to be way low that the client would be hit up for a tidy LMI sum. Surprisingly enough, the valuation came back at a value that not only avoided LMI but put the deal into a lower LVR tier that provided extra rate discount. Early Christmas present for the client!
In saying that I have two due back in the next day or so which shouldn't provide an issue, but maybe my luck has all been used up.
Cheers
Tom
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