Foreclosure in Eastside>Question Details

plclark999, Home Buyer in Santa Barbara, CA

Why is the price of this property $623K on this page and $913K on the Realtytrac page?

Asked by plclark999, Santa Barbara, CA Mon Sep 9, 2013

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Answers

4
Dana O'Neill’s answer
Great question! Property values are estimates based on a variety of factors and sources. Not all companies have access to or use the same sources. This is especially true of homes that have been upgraded or remodeled since the last time they sold. The online sources cannot take this into consideration and hence, their estimate is based on lot size, sqare footage of the home, neighborhood, etc. Conversely, if a property has deteriorated since the last sale, online sources will not know this. Another aspects of a sale that an online source cannot calculate is the reason a home sold for a certain price, what negotiating and concessions were made.

However, Realtors will!! Always best to check with a local realtor to discover what the actual, most current value is for a home.

Hope that helps! And if I can be of assistance, please let me know!

Dana
Dana@DanaONeill.com
805.705.1605
1 vote Thank Flag Link Fri Sep 13, 2013
I wrote a blog about "Finding Foreclosed Homes on Trulia" just last week. I'll put a link in the web reference. That should answer all of your questions.

J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
619-929-0105
2 votes Thank Flag Link Wed Sep 11, 2013
Thanks!! Excellent blog J.R. !
Flag Fri Sep 13, 2013
Thank you for that!
Flag Wed Sep 11, 2013
Great explanation!
Flag Wed Sep 11, 2013
Hi! Trulia, Zillow and RealtyTrac don't always list the same price for a home because often times they are estimates based on comps (which could be outdated or inaccurate) or they are showing an amount owed on a property (this is usually RealtyTrac).

This particular property is an REO or bank-owned property that got listed for sale in July at $732,200 and is currently in escrow. If you want me to keep tabs on the property for you, let me know! Or if I can help you find something else, I would love to be of assistance!

Summer Knight
805.886.1261
http://www.summerinsantabarbara.com
1 vote Thank Flag Link Wed Sep 11, 2013
Hello,

What is the address or street name? Many sites don't update quickly enough... Let me know and I will look it up for you.

Thank you
Tracy
TracyCNelson@gmail.com
0 votes Thank Flag Link Mon Sep 9, 2013
The address is 1118 Ferrello.
Thanks!
Flag Mon Sep 9, 2013
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