Earlthree, Home Owner in Saint Augustine, FL

I edited & saved my home facts yesterday. Where is the change. How do you get $287,000 for a custom home originally valued at $1,000,000 ?

Asked by Earlthree, Saint Augustine, FL Thu May 10, 2012

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This question is about this property: http://www.trulia.com/homes/Florida/Saint_Augustine/sold/166…

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2
Hi Earl,

This is a very common problem with Trulia and Zillow. They only take into account the current market value of the home based on recent sales in the area and the average sales price for that zip code. There is no consideration for upgrades or additions or even features. It is a flawed system. If you'd like a free Comparative Market Analysis to find out the actual market value of your home, I'd be glad to help. Call anytime.

Jeff Metcalf, REALTOR(R)
Watson Realty Corp.
(904)495-0115
http://www.Realty2Reality.com
0 votes Thank Flag Link Sat May 12, 2012
This is the danger of an automated system. It does not take into account where the property is and what is entailed in the home. It just uses an average cost per sq ft in the area and multiplies and makes no real adjustments. That is why an agent is essential in establishing values.
0 votes Thank Flag Link Thu May 10, 2012
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