Propstream- How accurate are the estimated home values?

Question

When I make offers to owners, my price offers are often a lot lower than what the owners claim their house recently appraised for. However, my price offers are largely based of the comps on propstream of nearby multifamily properties with similar building size and same  number of units that were recently sold in the last three months. The price comps appear to be accurate when I check the public records too. Am I missing something?

Tara Mortimer · Answer

Yeah propstream is very accurate that's just how owners are lol

Jonathan R McLaughlin · Answer

sellers lie, most of all to themselves.

David Avetisyan · Answer

Isn’t that the truth!

Kevin Liu · Answer

I have noticed some discrepancies with their owner data at times, so I'm sure their home estimations are not fully reflective either. Still a good tool though for getting an estimate!

Lance Sheehan · Answer

I was wondering the same about the accuracy. Some properties are way above the estimated value and it makes me nervous about the appraisal.

Mohammed Rahman · Answer

Hey @Ike Okwerekwu I wouldn't rely on just one source for your data, use other free sites as well before calling an owner and making an offer. Owners will always think their assets are worth more than what the market value is, they're counting all the time & sweat they've put into it while the market doesn't care about that.

If they say they have a recent appraisal, ask them to give you a copy too.

Michael J Shetler · Answer

Those of you using PropStream - do you find that owners are inundated with offers?

Piotr Staron · Answer

@David Avetisyan

I am using propstream and Batchleads.

David Avetisyan · Answer

Anybody using prop stream or an alternative?

I would love to connect.

Propstream- How accurate are the estimated home values?

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