It’s no secret that home owners across America have at one time or another searched for their home on Zillow or Trulia to find out what it says their home is worth. Potential sellers often seek out a Zestimate of their home before putting their home on the market. It’s critical to keep in mind that a Zestimate does not take into consideration other factors that only a professional can assist with accurately to help a sell a home quickly.
While Zillow may be a good starting point since much of the data is taken from local tax records, tax assessment is not always a good indicator of market value of a property. Factors including comparable sold properties in the neighborhood and location of the property are not taken into consideration and have led many sellers and buyers to disagree with Zestimate numbers. Agreeably, buyers hope for a low Zestimate of a property and sellers wish for a higher number. It’s really hard to say whether or not a Zestimate can accurately predict what a home could sell for since there are many factors that are left out, not to mention tha the information can sometimes be found unreliable.
Keep in mind that Zillow and Trulia, now a merged company, have one purpose, to make a profit and they get profit by selling advertizing to agents whose listing information is entered into the site and is often found to be incorrect and out-of-date. Plus, I bet you didn’t know that just recently it was announced that the major source of the listings found on Zillow and Trulia are provided by List Hub, who will, in the coming months, stop sending their data to Zilliow and Trulia. This will greatly create a major change in the information you will find on these sites.
Now, there’s HomeSnap, powered by local MLSs, which provide the most accurate, up-to-date information on a property. The difference with HomeSnap from the others is that it provides details on any home “snapped” by your smart phone. The best part? HomeSnap works for any home whether it’s on the market or not. Want to know how much a home is worth? Just snap a picture of it. HomeSnap will provide detailed characteristics on any of its 90 million inventoried homes. What’s even better? If you’ve connected with a REALTOR® on HomeSnap, that REALTOR® has the ability to send you a Comparative Market Analysis directly via email! Instantly being able to compare your property to other like properties in the neighborhood will give you a better idea of the market value of your home.
While Zilliow and Trulia could be a good initial conversation starter with your REALTOR®, that’s about all it’s worth, a starting point. To really get a grasp on the market value of your home a professional will provide you the most accurate and up-to-date comparable market data to price your home to sell! If you want to search homes in your neighborhood and snap your own home to see the details, HomeSnap is going to be your best bet.
Unfortunately, most homeowners today are still feeling the effects of the recent housing crisis. If you find yourself underwater and unable to sell your property or an investment, Real Property Management has the solution. Start here for a free consultation!