Another interesting little whirligig popped up over on Seattle Bubble. It seems that in the course of a morning, The Tim put together a quick and dirty little estimator on what your home’s currently worth. Not bad for a Tuesday morning. According to The Tim, the calculator is based on the following assumptions:
- Homes were priced reasonably up through the year 2000.
- In 2001-2008 homes were 2%-30% overpriced.
- 5% per year is a reasonable rate of appreciation.
So go ahead, pop in your numbers and see what you get. Remember, it’s a quick and dirty online tool–not rocket science. It doesn’t (and couldn’t possibly) take into account all the factors that go into valuing a property, as The Tim states up front. However, it’s worth a look, for curiousity sake, and if you’re still not amused, read up on the comments that the blog’s generated–The Tim had to just know that he’d generate a few on this one!
Purely incidental, interesting thing is that when I popped in my numbers, The Tim’s little online calculator spat out a number dead on to my current Z-estimate. Hmmm….