Robin Morgan, Real Estate Pro in Southern Shores, NC

Trulia is taking public records of refinanced homes and saying they are sold home prices. So wrong!

Asked by Robin Morgan, Southern Shores, NC Thu Nov 29, 2012

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Robin Morgan’s answer
I helped my friend by getting Zillow's toll free number to their legal department. Her attorney contacted them and Zillow deleted it from their sales. I would guess we as agents will still have to watch for this on homes we know didn't go for sale.
0 votes Thank Flag Link Thu Jan 10, 2013
My neighbor was very disappointed to see that her $550,000 house sold for $201,500. Now she just has to tell everyone she refinanced which is really no ones business.
0 votes Thank Flag Link Thu Nov 29, 2012
Unfortunately, the processes utilized to track and channel data from one source to another may loose credibility in translation. Refinancing may create new loan documents which in turn will cause the previous loan documents to be recorded and marked as "paid and satisfied" by the lender. I can understand how a non-banker would assume the loans are new (recent solds).

I do find myself questioning the local and national media when reporting to the general public its interpretation of where the real estate market REALLY is. No wonder folks are confussed!

Thanks so much for your post!
0 votes Thank Flag Link Thu Nov 29, 2012
If that is the case it is 100% so wrong!
0 votes Thank Flag Link Thu Nov 29, 2012
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