[See How To Avoid Foreclosure Rescue Scams]
5. Putting too much stock in home valuation websites. Sites like Zillow.com and Cyberhomes.com have changed the way people buy homes by putting pricing information at buyers' fingertips. But they're not infallible. Don't assume to know what the value of a home should be based on what these sites tell you about the neighborhood. There are many elements of a home's value that home valuation sites cannot incorporate. "Take their values with a grain of salt," says Dorkin. He recommends using this information merely as a range. Do other research to narrow that range. For example, walkscore.com can tell you the number of amenities within walking distance of a location—those are some of the tangibles that can raise or lower the value of a home.
Cathy B of VA @ Feb 20, 2009 15:51:31 PM
Sanjay of CA @ Feb 07, 2009 12:51:37 PM
Elia Cooper of TX @ Jan 28, 2009 14:16:36 PM