I suggest you contact a Realtor in you area to do a CMA. There are too many variables for a computer to see. Your Realtor will do the CMA based on sold prices, however, she/he should also show you the active listings in the area to size up your competition. In today’s market, after consulting with a Realtor, my suggestion would be to hire a certified appraiser before placing your home on the market. Some of the dangers of overpricing your home include lengthening the time on market, making the property “shopworn”; it reduces the number of showings and most importantly, presents mortgage appraisal problems.

Wed May 7 2008, 12:33

Any online valuation site cannot provide an accurate value. The algorythims do not allow for distinguishing differences between properties or transactions which are taken directly from county records. Realtor/Agents cannot provide a value of real estate unless they have a valid active appraisal license issued by the state to do so. Providing a value is considered an appraisal and by doing so they are misrepresenting themselves as an appraiser. Realtors/Agents can provide a CMA to determine an estimated or suggested selling/purchase price in an effort to obtain a listing or selling/purchase contract agreement. To obtain an accurate and true market value of a home you need to contact a professional real estate appraiser.

Wed May 7 2008, 12:01

You can't because the data is based off of public records and unfortunately public records does not give any information except for sold price. It doesn't reflect condition, concessions, and a lot of times public records is in accurate in regards to size. It also doesn't reflect distressed situations that do not accurately portray local values. There is no computer program/website that can accurately evaluate real estate value. Public record values might get you into the ballpark but aren't reliable nor will banks rely on it. This is why appraisers must be licensed through the state and charge for the service of valuing a home. The MLS is the number one source for accurate home values in terms of sold properties. And, as was stated previously, a good agent can come close because they too have the knowledge and experience to appropriately value a property using the MLS. Public records can be factored in determining value and often is but not solely relied upon.

Susan Walker

Wed May 7 2008, 11:51

To get a a more accurate idea of the value of your home you really need to contact a Realtor in your area. They can do what is called a CMA which will compare your home to sold propertys in the area that are similar to yours. There are too many variables considered in this process to allow a computer to do the work that a human can do.

Hope this helps.

Wed May 7 2008, 09:59

Hi,

Trulia will NOT allow you to establish the GENUINE CURRENT MARKET VALUE of your home.

"Sorry" - but you must have a Realtor pull all the SOLD comparables, all the current listings - and then walk in all the similar active homes to "base" where your home is valued at in comparision to updates, remodeling - in addition to the regular sq ft, # bedsrooms, baths, etc.

This is the only accurate method to see the GENUINE value of your home...

DrBoyce

Wed May 7 2008, 09:53