For example, I recently tested Zoocasa's pricing program-I checked for the value of a waterfront listing I have. It came up with a value of $783 to $1.1 million on a house which is worth approximately $2 million dollars....I am pretty sure that even the most uneducated buyer familiar with the area would recognize that no waterfront in the lower mainland would sell for such a low price unless it was missing key features like a road! This house had a dock, 3 car garage, nice renos, etc-so the pricing module is definitely NOT reliable!
Many of these types of websites are likely more for fun than information-real estate pricing is not something that can be done effectively by a computer program-it is more an art than a science!
If you have any questions about house values or other real estate matters, you need not rely on a website-just call or email me!