automated valuation models' estimates like those provided by Trulia and others are most of the time incorrect...see more about this here
$$$ BUYER CASH REBATE 50%-60% / SELLER DISCOUNT 50% $$$
Flavio Tejada, MBA-Finance, Realtor, Broker/Owner
The estimates that Internet companies conjure is often mistifying.
A Realtor can do a CMA, which is usually very accurate.
An Appraiser can do an Appraisal for about $400.
Everything else is an opinion without much information or research.
If you're just curious; forget it for now.
If you're considering doing something; talk to a Realtor.
To find the answer you seek, I'd suggest contacting some of these nice folks offline and receiving some free and confidential market analysis so you can make a real choice.
Or you can post details here. If you like the price Trulia or Zillow suggests, verify it with a real estate pro to see if it's a reality that can make your next home dream come true.
I recently had a client call me and voice concern that another big internet website said his Duveneck/Saint Francis Palo Alto house was worth $1.3M. I helped him buy it about 2 years ago for $1.3M. A quick search of property records showed that his next door neighbor had sold his house to an LLC, without being listed on the multiple listing service, for $1.3M. Each of these houses is worth about $1.8M
Why his neighbor would sell his house to an LLC without it being listed on the multiple listing service is open to speculation. The land without a house would probably bring $1.3M.
To see June's actual Palo Alto home sales records visit
Statistics are good for getting a feel for what is happening with home values. To see Palo Alto home values visit http://julianalee.com/palo-alto/palo-alto-statistics.htm
To get an accurate understanding you need to be talking to many people and making/listening to many offers. Give me a call and we can chat.
Top 2 agent nationwide at Keller Williams Realty, the nations largest.
Over 20 years experience
Over 1,000 homes sold in Santa Clara County and San Mateo County
They also are driven by recent sales information about the asking price and the sales price... so if a neighborhood hasn't had many recent sales the accuracy can be way off.
If we sent 3 different professionally licensed appraisers out to the same home, they would come back with 3 different values and with possibly a 3% to 10% or greater difference in valuation. Think about that for a second!
What's a home worth? What ever a Buyer is willing to pay for it. What determines what a Buyer is willing to pay? Staging... # of competing similar homes on the market... that fresh paint/clean leather smell... etc...
I'd love to help you assess accurately the value of your home and won't put pressure on you to list it. I also will be the voice of reason and not just tell you what you want to hear, but occasionally as need be tell you what you need to hear. That kind of integrity and attention to details is why my past Sellers LOVE me and sing my praises. If you'd like that level of professionalism and service, call me sooner than later!
Then there are market conditions that impact price. Whether a buyer writes an offer for your home will partially depend on what other homes s/he can buy for the same money. Another way of putting it is will the other homes sell yours or will yours sell the others? (Will buyers like your home but decide they can get a comparable one for less money down the street?)
If you want to improve the attractiveness of your home to potential buyers, consult with a good realtor and a stager to decide what are ways to do that with a good return on your investment.
If you are thinking about selling and are concerned about price and timing, there are several other factors you might want to consider. If you sold your home now, could you buy replacement property that could appreciate faster? Are there any tax issues to look at? Is there another place where you prefer to live? How important to you is it to be there?
Each buyer and seller is unique. A single response can't fit everyone. Find a professional and/or a good friend who can help you think thru all of your concerns, preferences, and options. One way to find the realtor you want to work with is to go to open houses and talk with the hosts. Another is to ask friends for recommendations. If you see a response here or another site that you like, call the agent and ask for more info.
John P. Lauer, Realtor
Keller Williams Realty - Palo Alto
so invite some agents in....best of luck.
No system is perfect, But it should be close
for example, this year Zillow estimates in Palo Alto have been very low on average. They have not be able to keep up with the rapid appreciation in Palo Alto. When the market was going down in 2009 Zillow was often high on what the house would eventual sell for.
I have not been following trends on Trulia but right now, Zillow says my home in Palo Alto is worth 200K less than I think it is worth and Trulia says it is worth 200K more than I think it is worth. So, if I am correct (which after 18+ years in the business I think I am) then Zillow is 10% too low, which it has been all year, and Trulia is 10% too high. Since I do not have the confidence as I have not been following Trulia's estimates, I can not say if this applies to all of their estimates or just mine.
Keller Williams Realty Palo Alto
Long story short, timing will have as much to do with getting the price you want as anything else. Know the market, or consult with a professional who is well aware of the trends in your neighborhood, to maximize your home sale.
Best of luck,
Alan Kurpiewski, REALTOR
CA BRE Lic. 01912043
For one thing they use tax records which are notoriously inaccurate, and for another they don't take into account the nuances like view, condition, etc... that separate one property from another.
If you want to know what your place is worth, have 2 or 3 experienced, reputable, agents/brokers come and take a look. This is going to be your best take on real world value.
Lance King/Owner-Managing Broker
King Realty Group