onthehouse.com.au

[neeko]

hey all,
just been looking at onthehouse.com.au and just wondering what peoples thoughts of it are? seems to be alright but im concerned with the guestimates as they seems way out of whack.

love to hear peoples thoughts on this

Neeko.

 

[wylie]

Onthehouse values seem to me to be all over the shop. I see it as a curiosity more than it being of any real value.

 

[hugh72]

Can we useful for previous sale prices for a street etc but values are unreliable

 

[neeko]

yeah I can definitely see where your coming from there hugh.

 

[trey]

I dont get how it works. A house in my street which recently sold for 660k has a on the house guestimate of 950k to 1 million to use as an example. The only thing I can think of is a few doors up from this place the suburb changes and houses are a million. Then my house has a guestimate 40k either way so more accurate.

 

[sammy1]

Not accurate at all. Still useful for looking up size of block and sold history though.

 

[Hetty]

Yeah, not accurate. A relative's house sold for $1.4mil over their guesstimate. Good for past sales data and stuff as Sammy said.

 

[pickle pickle]

It is a free service that has some exceleent resources. IE. previous rental listing, previous sales lisitngs, previous sales.

It's valuuations on particular properties are unreliable but I use onthehouse when researching a property and deciding a value of it (as well as many other resources).

 

[neeko]

It is a free service that has some exceleent resources. IE. previous rental listing, previous sales lisitngs, previous sales.

It's valuuations on particular properties are unreliable but I use onthehouse when researching a property and deciding a value of it (as well as many other resources).

what do you guys use for valuations? do you just ask an agent do you make you own valuation or there is a website or program etc?

 

[pickle pickle]

Neeko, all three.

I look at previous sold properties in the area for similar properties, potential rental returns, what I can do with the property etc.

Sometimes I use myrpdata has it has some interesting historical information. However you need to pay for this and there values while there abouts is still not 100% accurate.

In short, valuing a property is research, research, research and working out what you want to do with the property. IE. a property next door to a property you already own could be worth a little more to you than what the market say's it's worth so you can justify paying a little more for it.

 

[neeko]

ok fair enough then.

what about APM? is that the same thing as myrpdata?

 

[pickle pickle]

Yeah similar though I have never used it.

 

[neeko]

ok fair enough. id just like to see what price my property is worth at this stage.

 

[pickle pickle]

You could get this report.

http://www.propertyvalue.com.au/n/Suburb-Sales-Report/myrp-546

Lists all the sales in a suburb for the past 12 months

 

[C-mac]

I use it for the sales history insights mostly. Neat tool.