Now that July 2020 is completed, TMP is still comfortably in second place in “The Financial League”.

TheMonopolyProject (TMP) showed a huge $8,690 jump due to increases in the estimated value by Zillow and Realtor. Over $21,000 in the case of Realtor.com! In one month!

‘Gold’ extended it’s First Place lead by gaining another $14,824 this month during the COVID19 and now riot era. Gold jumped from $1,784/oz to 1,976/oz; 11% in one month.

Here’s the last six months:

TheMonopolyProject formula for TOTAL EQUITY is:

TOTAL EQUITY of TMP = ‘Bank Account’ + ‘1 SHF – estimated equity’ = $121,568

How did we get to the ‘REO Owned Estimate of Equity’ of $54,012 for the month of June?

We used the arithmetic average of three websites (Redfin, Zillow, Realtor.com) that estimate home values.

The Realtor.com estimate jumped by $21,400 in one month. The Zillow estimate jumped over $4,000. We take a closer look at the numbers:

You can see the $21,400 jump in one month in the chart below. Note that the estimates before this were below the purchase price. Also, Realtor predicts a decrease in price of 4% over the next year?

This raises the question of how these estimates are generated. A review of the Zillow model states:

“Zillow doesn’t reveal much about what’s inside the black box of Zestimates, other than to say that the value is calculated three times a week based on ‘millions of public and user-submitted data points.’ ”

Realtors are obviously suspicious of Zillow and the Zestimate.

Redfin claims “The Redfin Estimate is highly accurate, with a current median error rate of just 1.66% for homes that are for sale, and 5.63% for off-market homes.”

Is Redfin better than Zillow? Yes?

The Washington Post differs.

And how does Realtor.com calculate home values? How can the model show a $21,400 or 11% jump in one month? We’ll ask our TMP expert broker/agent, Jeff Sutherlin.

The Phoenix home market is hot with prices reported to have risen 9% over the last year. “With a 9% year-over-year gain in May among 19 cities measured by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, Phoenix…” The Valencia house has appreciated 11% in a little over a year based on the average of the three (Redfin, Zillow, Realtor) estimates.