ken_hawkins0…, Home Buyer in Boynton Beach, FL

On the "Estimates" tab under "Local Info" on this website: What do the estimates represent? They are way lower than what the value of the houses.

Asked by ken_hawkins01@yahoo.ca, Boynton Beach, FL Wed Feb 13, 2013

This question was asked from http://www.trulia.com/property/1039983047-5028-Brian-Blvd-Bo…

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2
Ken,
There is no silver bullet for a consumer to determine a market value.
As you observed, aggregate websites such as Zillow and Trulia publish numbers that are absolute nonsense regarding the value of any specific home.
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Even the public accessible tax data bases can not address this issue.
A recent check of the tax data based showed real 'sold' prices differed from the 'market value' number shown on the tax records by a factor of 0.7 to 1.8!
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However, you will discover that homes typically sell within 10% of the price for which they are listed. Many are within 4%. Check with a professional in your area, Jimmy provided his telephone number, to get the real numbers you can work with.

Best of Success,
Annette Lawrence, Broker/Associate
Remax Realtec Group.
0 votes Thank Flag Link Wed Feb 13, 2013
Hi Ken~
The "estimates" on various Real Estate sites are just that...Estimates. The real fair market value of a property is usually said to be determined by what a buyer is willing to pay for it on the open market (or in today's tight lending standards, what a bank will be willing to loan on it). You can also compare the estimates to the County's Tax Assessment as another tool to help determine a homes value, but overall the best way to narrow the range is to consult a REALTOR; we do this everyday. Good Luck.
Jim Wrona
RE/MAX Direct
561-880-7214
JimmyWRemax@gmail.com
0 votes Thank Flag Link Wed Feb 13, 2013
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