Website valiations

Hi All,

Two weeks ago, there was an auction for the next-door property to my IP, I went to the auction and house sold for 747K , 6 bidders (3 bedrooms, 1 bathroom and not carport or garage) the house condition was very dirty and bad, missing tiles in kitchen floors, damage plasters, stinky house, ugly garden was not in a good condition, in need of a major renovation, at least bathroom, kitchen, painting entire house and changing all carpets and maybe more,
My IP condition is much better, renovated bathroom and kitchen, bigger land, 3 bedrooms, 1 bathroom, secure carport for 2 cars and a very nice garden, basically not comparable to this property, I bought the IP last year at the bottom of the market for 600K.
Today I checked RE.com.au and Corelogic and check the value of my IP, and it says between 575 to 675, and in the list of comparable properties, I could not see the next-door house.
How accurate are these valuations, I know if I want to sell now I will get at least 750 due to the market condition and comparable prices.
Thank you,

 

Not very accurate, get a market appraisal from a RE? Or order a full bank valuation
Reason you won't see the property that sold at auction 2 weeks ago is because they will only have property sales that have settled, can be a month or two after the auction.

 

It is a computer generated model, does not take into account the current condition of the property, does not rely on an inspection, or any of the structures which are erected on the land. The methodolgy uses WFG technology and a series of complex algorithms to establish a range.

Your best bet is to get an agent to poke their nose out there and have a look.