Rbs280, Home Buyer in Phoenix, AZ

How do you value this home at $218,000 - This home is currently valued over $275,000?

Asked by Rbs280, Phoenix, AZ Wed Jun 6, 2012

- please review the home and the area. Royal Palm neighbor hood is one of the finest areas in Phoenix. Thank you, The Owner Robert B. Snyder

This question is about this property: http://www.trulia.com/homes/Arizona/Phoenix/sold/20411503-10…

Help the community by answering this question:



It is a fair question and one that I am asked a lot when talking with homeowners or even buyers.

The short answer is that a computer system is not able to accurately estimate property value. It uses pre-programmed formulas to derive a value based on similar properties in the area. However it is very hard for a computer program to make a fair assessment of property values. For one, computers can't review pictures to check for the condition of each home.

Having said that, the best way to get a good estimate is to talk with a local REALTOR. Most will be more than happy to review local sales and send you a report with an estimated value of your home.

And if you don't want to waste your time and request a report right now, just click on the website below and I will send you one.

Good luck!

Jose Dias
0 votes Thank Flag Link Thu Jun 7, 2012
The most accurate way to determine the value of your home is to hire an appraiser to complete a full blown appraisal on the house.
0 votes Thank Flag Link Wed Jun 6, 2012
Trulia values are spot on...I'll close on your home for $218K this week!
0 votes Thank Flag Link Wed Jun 6, 2012
As you have read below Trulia and other sites are not good places to go if you desire the true value of a property. Watch the sites and you might see some trends etc but for any level of detail please contract your Realtor for a professional opinion.
0 votes Thank Flag Link Wed Jun 6, 2012
As real estate professionals, we determine value based on current market conditions, sales, and inventory. We never use Trulia's system of valuing properties. Same goes for all the other basic sites. Most of the information is derived from tax assessments and old information.

We use the MLS system to research the value of homes. If you would like, we could help you with your real estate needs.

Best Wishes,

Lori Hicks & Toni D'Avello
HomeSmart Real Estate Professional
Ofc:(602)375-1075 Cell:(602)725-6922
Email: WeSellAZLori@Cox.Net
0 votes Thank Flag Link Wed Jun 6, 2012
Trulia is not the best source of information on home values. Most of what Trulia provides is outdated information. This is probably due, at least in part, to the fact that Trulia is a national website and does not have access to local MLS systems. Without the access to the MLS system it is nearly impossible to provide accurate information. If you want a true value for this or any other property then you need to contact a local real estate agent who can assist you.
0 votes Thank Flag Link Wed Jun 6, 2012
Sites like Trulia and Zillow use algorithms to determine value rather than an appraiser or local real estate pro. They are seldom very accurate. It makes those of us in the real estate industry crazy because many consumers think the home valuations they see online are real verses a guess made by software.
0 votes Thank Flag Link Wed Jun 6, 2012
Hello Mr Snyder,
Trulia (and other sites such as Zillow) utilizes a different system to determine value than that of a real estate agent or an appraiser. having said that, some values can come in unreasonably low and others can come in way over (usually no one complains or asks questions about those values)
I would contact a real estate agent in your immediate neighborhood and ask for a value check. I believe that would get you the most accurate figure.
Feel free to call me any time.
Good Luck!
Bob Dickinson
RE/MAX Excalibur
0 votes Thank Flag Link Wed Jun 6, 2012
As a real estate professional, I almost never use Trulia's system of valuing properties (same with Zillow), because most of the information is derived from tax assessments. The tax assessments are always lower than the house values, and in recent years have dramatically plunged. Third party sites apply that rate of change to the prices of recently sold houses, and the result is under valuing properties.
Instead we use the MLS system to research the value of homes. If you would like, I could send you what a professional would value your home at. Just email me at bja1987@gmail.com
Web Reference: http://armls.com
0 votes Thank Flag Link Wed Jun 6, 2012
Hi Rbs280,

Who values this at $218K?

It sold in September for $245K.

I am confused...

Please call me anytime?

Always in your service,

Michelle Renée Mozell
PO Box 897
Bodega Bay, California 94923
602 292-0753 Cell
480 452-0640 eFax

HomeSmart, Associate Broker
20860 North Tatum Blvd.
Suite 140
Phoenix, Arizona 85050
480 443-7400 HS Office
480 664-4357 HS Fax

Sonoma Coast Living, Realtor®
DRE License 01879859
575 Highway One
Bodega Bay, California 94923
707 875-2500 SCL Office
707 875-3242 SCL Fax
0 votes Thank Flag Link Wed Jun 6, 2012
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