maryaovergaa…, Home Buyer in Portland, OR

Why is 3120 NW Luray not listed as a comparator? It sold July, 2012 for $1052,500.

Asked by maryaovergaard, Portland, OR Fri Nov 23, 2012

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This question was asked from this property: http://www.trulia.com/property/compare/3052464915-3251-NW-Lu…

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Answers

3
Mary-

While Trulia is a great resource, you will not get a full analysis that includes all true comparable properties until you work directly with a broker who can generate an accurate list of the properties that have sold and which provide a good estimate of the value of the property in question in more ways then just being in the same relative location.

I'd love to talk with you more about that property or the process in general, and would be happy to answer your questions in further detail. I can be reached at 503-539-5814.

Kind regards,
-Marcus
0 votes Thank Flag Link Fri Nov 23, 2012
Trulia's Comparable algorithm has no relation to real-world Comparable Property calculations as used by Realtors or appraisers (whose rules are the only ones that count). I can say that in a real world estimation of value you do not compare a $700k house with a $1MM sale- too wide of a valuation gap.
0 votes Thank Flag Link Fri Nov 23, 2012
They dont always pull all properties to make the comparables-that is why it is only estimated not an actual value.
0 votes Thank Flag Link Fri Nov 23, 2012
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