Here's what you need to understand, no one at these sites is in real estate, no one at theses sites has ever seen your home, your neighborhood or your city. Theses sites are marketing sites and their marketing to professionals like myself and putting consumers in direct contact with professionals who can answer their questions and/or assist them with the sale or purchase of real estate.
For more information about online "estimates of value" please see the link below.
Home value estimates provide buyers and seller a feeling of comfort regarding their most costly investment or the community in which they have interest. Thess values are important pieces of data.
Larry ran the warning flag up the pole and you really should pay attention.
Now, rather than rant about the transgression in which aggregate real estate websites engage, let me provide you some REAL numbers. I, like everyone else see these estimates, zestimates, guestimates and SWAGS and find them horribly distressing.
A community in Dunedin Fl comprised of 74 homes, 1997 constructed, with 3 and four bedrooms and those glorious 3 car garages. Six sales have occured in 2013. THIS IS THE PERFECT CONFLUENCE OF DATA FOR ACCURATE CALCUALATION OF VALUE!
In my research, I did not use the sales data from two home that had great water views. None of the homes had water views that were included in the study.
The Trulia valuation for those six 'like kind' sales was as much as 80% incorrect. That is equivilaent to a Million dollar home being valued at $200,000! Aggregate average was the values were 40% off target. You would be better off asking a butterfly for a valuation than to use any of the numbers published on a aggregate real estate web site.
Bhk, there are lots of numbers floating around, including the ones I just shared. You will find data without proper analysis is worthless. If you have serious need, call a professional. We do this dozens of times a month, hundreds of time a year....RIGHT IN YOUR NEIGHBORHOOD. Call a Newland, NC real estate professional.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
If you're serious about buying the place, then you should want something that you can hang your hat on; right?
Have your Realtor do a CMA; it's part of his package deal to help you.