Property Q&A in Ocean Grove>Question Details

Nancy Kelly, Both Buyer and Seller in State College, PA

What happened to your estimate service whereby the owner updates information and you estimate the value?

Asked by Nancy Kelly, State College, PA Thu Mar 26, 2009

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This question is about this property: http://www.trulia.com/homes/New_Jersey/Ocean_Grove/sold/5182…

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Answers

2
Nancy,

I am with Diane on this one . . . online estimates of true house values tend to be grossly inaccurate (due to their lack of hands on knowledge of the area and property specifics) and this is an ongoing issue for us Realtors as buyers agents as for some odd strange reason online estimates seem to take precedence over an expertise of the area (heck what do we Realtos know, we just visit properties and apply our knowledge on a daily basis). Unfortunately this is part and parcel due to the infancy stage of most online portals that report house values.

In defeinse of Trulia v. Zillow, Trulia merely reports the last sold price whereas Zillow pretends to report true value, which is most circumstances is not doing justice to real value.

I share in your frustation.

Sincerely,
Francesca Patrizio, Realtor, ePro
732.606.2931
Web Reference: http://www.PatrizioRE.com
0 votes Thank Flag Link Fri Mar 27, 2009
You might have been on Zillow??? They have something called Zestimates. It's not very accurate, by the way. For more up to date information on Ocean Grove closed (sold) listings, you can order a market snapshot from my website. It will give you the scoop straight from the MLS. It's free and there's no obligation at all to use the service. It will update you monthly, if you like.
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Thu Mar 26, 2009
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