Home Buying in Fresno>Question Details

Greenstuff54, Home Owner in Fresno, CA

I asked this question about 2 days ago. I'll ask it a again. 2082 W. Minarets in Fresno, Ca is has an estimated value (by Trulia) of $441,000. My

Asked by Greenstuff54, Fresno, CA Mon Sep 23, 2013

house,across the street has an estimated value (by Trulia) of $325,000. Both houses: same size, same year built, same condition, both have a pool, both are 4 bedrooms, 2.5 baths. I also have solar panels, a spa, new landscape front and back. Trulia shows a difference of $116,000. How does Trulia come up with such a
difference. Can someone from Trulia explain this? In other words, what kind of rubric (that Trulia uses) accounts for such a huge difference?

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Answers

10
Free websites do not have the personal experience that a local Realtor® can provide. Any one can offer you an detailed estimate of your home's true value.
0 votes Thank Flag Link Wed Oct 9, 2013
The value is an estimation. I would be more then happen to run a CMA on your home for free. Give me a call (559) 287-2959
0 votes Thank Flag Link Tue Oct 8, 2013
I hope you are not counting on free automated valuation models to help you make important financial decisions. Contact a Realtor or appraiser to gain a clear understanding of your homes value.

J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
619-929-0105
0 votes Thank Flag Link Tue Sep 24, 2013
Hi Greenstuff54,

There are 3 primary ways a property gets valued. Also, I would highly recommend you avoid online website providing AVM (Automated Value Method) service/display which just looks at "the numbers" of each home (primarily square footage, beds, baths, etc.) and makes a rough estimate of value based on other sold properties without the benefit of taking into consideration improvements and other value-increasing (or decreasing) attributes.

Please see the following link for more details:

“Zillow & Darts” http://tinyurl.com/chgarwb

-Steve
0 votes Thank Flag Link Tue Sep 24, 2013
This is a forum. Trulia does not answer questions here. Not to mention the trulia estimate counts for nothing!

Are you trying to sell your home?
0 votes Thank Flag Link Tue Sep 24, 2013
Hello,

Your questions are not being sent to Trulia. They are posted to real estate agents that can choose to respond. Trulia uses tax records to assess values of addresses. Tax records sometimes have errors. For example, you know the homes to be the same square footage but tax records may have an incorrect square footage listed for one of the two homes. Also Trulia is not able to assess the details of each home such as a pool, solar, etc. Trulia can not provide what you are looking for.The only way to get a true picture of the price you could sell your home for is through a real estate agent. If you need to know the value for a refinance, the appraisal the lender conducts will serve as the official assessment of value.

If you would like the assistance of a real estate agent feel free to email me at,
Jennifer.hormann@yahoo.com. or call my mobile # listed below.

Sincerely,

Jennifer Hormann
Coldwell Banker Premier Real Estate
559-288-0023
0 votes Thank Flag Link Mon Sep 23, 2013
Here's what Trulia has to say about how they establish value...

"A Trulia Estimate is just that: an estimate of a home's worth. Our estimates use a ton of info, including recent sales of similar homes and home facts like number of bedrooms and bathrooms, square footage, and more to provide insight into what a home is worth. You can help us improve our accuracy by telling us what you think of your home’s Estimate, and by claiming your home and updating its facts.

Don't see a Trulia Estimate for your home? Don't fret - it doesn't mean it’s not worth anything! Trulia Estimates are only available in locations where we believe our estimate is within a reasonable range of accuracy. Currently, more than 50 million homes across the US have Trulia Estimates, a number that will continue to expand. Check out our coverage and accuracy for homes with Trulia Estimates in available counties across the US.

If you're looking for a precise value for your home, or if you're thinking of selling your home, we recommend you talk to a real estate professional. After all, our algorithms are smart, but we can't know everything about your home’s features and location. Connect with real estate experts in your area."

I would suggest that at a minimum you log in as the owner and edit the home facts. As previously mentioned, your best bet is to contact a local professional.

Thanks,
Brian Domingos
Premier Valley Realty
http://www.premiervalleyrealty.net
Brian@premiervalleyrealty.net
0 votes Thank Flag Link Mon Sep 23, 2013
That is a big difference in value. It is possible that Trulia might be using the price that home on Minarets sold for back when homes were priced a lot higher. (Like back in 2005-2007). I would suggest using a Realtor to give a comparison market analysis on your home if you want a better idea of value.
0 votes Thank Flag Link Mon Sep 23, 2013
I am not an employee of Trulia, but I am a real estate broker associate. I can tell you from my experience in the market that the information provided is not always 100% accurate and the best way to get accurate information would be to to a proximity search of the surrounding area and average the values based on the homes with similar criteria. If you were thinking of selling your home that is what would be done in order to establish accurate comps. The program used by Real Estate professionals is canonical law, Trulia is great for estimates but not for final numbers. If you have any questions you are more than welcome to email me at alex@guarantee.com and I would be happy to provide you with the most accurate estimates for property value possible, no strings attached.
0 votes Thank Flag Link Mon Sep 23, 2013
And there lies the problem with automated valuations. I'd really like to know how they come up with their numbers as well, sometimes they get lucky, but sometimes they are completely skewed. I'd be happy to help you if you are looking for an accurate value on your home, just let me know.

Laura Corey
Guarantee Real Estate
License #01303203
559-289-6713
laura@guarantee.com
0 votes Thank Flag Link Mon Sep 23, 2013
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