Property Q&A in Palm City>Question Details

Robert Golds…, Home Seller in 34990

Apparently Trulia forgets to add value for the fact of a HOUSE built on land that sold, 11 years ago, for a figure. You need to retire this silly site

Asked by Robert Goldsmith, 34990 Sun Jan 24, 2010

This is a Single-Family Home located at 4900 Sw Landing Creek Drive, Palm City FL. 4900 Sw Landing Creek Dr has 4 beds, 3 baths, and approximately 2,898 square feet. The property was built in 2000. The average list price for similar homes for sale is $75,261 and the average sales price for similar recently sold homes is $70,550. 4900 Sw Landing Creek Dr is in the 34990 ZIP code in Palm City, FL. The average list price for ZIP code 34990 is $476,506. ....... THIS COULD NOT BE MORE SCREWED UP!! ALSO, THE AVERAGE SALES PRICE, NOT LIST, IN THE ZIP CODE IS LESS THAN HALF YOUR FIGURE. GOOD NIGHT!!!

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This question is about this property: http://www.trulia.com/homes/Florida/Palm_City/sold/4144291-4…

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(Not sure how else to respond to a response). Kevin, I see that my annoyance caused me not to make my points clear. This is not, remotely, a $75,000 home. The lot is a $75,000 lot, conceivably. The "depreciated replacement cost" on a recent professional appraisal is down to $510,000. My point was that Trulia appears not to have picked up on the existence of a house, at all, suggesting the whole property is a $75,000 property. There are further nonsensical data for average list price, which is about double average sales price, (for the much smaller and older homes in the area) and, in Hobe Sound, in particular, they suggest that the average listing price is about ten times the average sales price. Something, clearly, is way out of wack. Homeowners and sellers have a difficult enough time without this Trulia site, trying to reinvent itself as a Zillow, (which, by it's own much more sophisticated data, still misses hugely in our part of Florida). It's in a neighborhood of mostly custom-built four bedroom homes. This house is one of the two or three largest and most expensive in it's subdivision which offers community boat storage, ramp, day dock, all with "deep water access". It's on nearly one acre in the best part of Palm City, requires no flood insurance and was totally custom-designed and built, completed in 2001. All concrete and steel, heated 30x15 pool, lots and lots of extras. No. It's not a $75,000 house in any market! Around 2004, Chase had it appraised in the 600s.
Thank you.
0 votes Thank Flag Link Sun Jan 24, 2010
Hi Robert,

I figure that zip code must include property everywhere. the size, layout and what not really have nothing to do with the market suffering massive reductions in value.

If everybody leaves their homes on a given street and the bank auctions them all off, they surrounding property will suffer.

Also waterfront homes are more valuable than thoise across the street from the water.

Call or e-mail if I can help.

Kevin Cloutier
Southern Premier Realty
Cape Coral, FL
239-246-6639
0 votes Thank Flag Link Sun Jan 24, 2010
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