Heather Byrne, Home Buyer in

how does Trulia derive its "estimates"; what factors are taken into account? How is "estimate" defined or quantified?

Asked by Heather Byrne, Sat Feb 23, 2013

This question was asked from http://www.trulia.com/property/1076682766-84-Demott-Ave-Rock…

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3
Hey Heather,

Kristan from Trulia here. We use a bunch of info that our data scientists comb through, including recent sales of similar homes and home facts like beds, baths, square feet and more.

We've written in more detail about Trulia Estimates if you'd like to learn more, http://www.trulia.com/trulia_estimates.

Also if you're the owner, you can claim your home now to make sure we have accurate info and improve our estimates of both your home and your neighbors' too.

Thank you for using Trulia for all of your real estate needs. You may contact us directly at customerservice@trulia.com if you have any other questions.
0 votes Thank Flag Link Thu Mar 7, 2013
Hi Heather, as with all on-line estimates they are generally unreliable. They use an algorithm consisting of sold homes, zip code, school district, bedrooms, bathrooms, square footage (if known), property size, etc. They tend to be closer to the mark in developments where most houses are the same, and miss terribly where there is no uniformity of building, they should be used for entertainment purposes only.

If you are selling have a few realtors come over and give you a free CMA. This will give you an individualized report which will be prepared by a human and can take into account condition among other things and will pertain specifically to your home.

If you are buying, get a buyer's agent. A buyer's agent can do an analysis for you to determine a good offer price. A buyer's agent should take their whole commission from what the seller offers, you get exert advice for no cost to you.

Please feel free to e-mail me if you have further questions or comments.
Thank you
Tom Brady SFR, e-PRO, SRES, GREEN, BPOR
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
631-682-8660
Tom@BradyFamilyRealty.com
http://www.BradyFamilyRealty.com
#1 Listing & Selling Brokerage in NY
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803
0 votes Thank Flag Link Sat Feb 23, 2013
Don't rely on online estimates as some are inaccurate, nor updated; rather review comps with your agent, recently sold similar properties in the immediate area, see what the data suggests and go from there....
0 votes Thank Flag Link Sat Feb 23, 2013
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