such a scam...dropping the price estimate on my home in one day by 100k such a scam!

Asked by Genomele, Chicago, IL Tue Feb 26, 2013

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Annette Law…, Agent, Palm Harbor, FL
Tue Feb 26, 2013
Sites that publish a number that the CONSUMER believes to be, and is labeled an estimate should be expected to have some basis in fact. As "Chicago' noted, the number he observed regarding his home is so incorrect that labeling it a SCAM is not unreasonable. People DO look at these numbers and DO make decisions. Calling these deceived citizens idiots may not be the most productive solution.

"Chicago" should take this opportunity to advise family, friends, co-workers, postal worker, city employees, and strangers on the street that aggregate real estate websites have a 'blank check' in regards to the data they exhibit and should be used for entertainment purposes ONLY.

Truila is perceived to be a real estate website. If you or I, were to publish such grossly false information, we would be in front of a panel of peers fighting to keep our license.

Chicago's anger is proper and should be channeled in the right direction.

Chicago, please understand, real estate professional are not responsible for the data appearing on this site. NOT EVEN THE HOMES THAT ARE SUGGESTED TO BE FOR SALE! The practice of deceiving the public with fabricated information is a SCAM! Go spread the word of your new revelation. Friends won't let their friends fall into this trap.

Best of success to you.
1 vote
Bill J Delig…, Agent, Naperville, IL
Tue Feb 26, 2013
Unless you are looking at selling or refinancing your home, then this estimate shouldn't matter to you.

If you are looking at refinancing your home, your lender will base the valuation on the APPRAISAL and NOT the Trulia estimate.

If you are looking at selling your home, then your Realtor will provide you with an opinion of value that is hopefully based on facts of your neighborhood and not by a Zillow or Trulia estimate.

Feel free to contact me should you have any Q's.
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1 vote
Mack Alsaidi, Agent, Chicago, IL
Tue Jan 21, 2014
I wouldn't let that bother me. It's meaningless. If you're looking for the actual value of your home, please contact. I'd be more than happy to help.
0 votes
Mark Malave, Agent, Chicago, IL
Tue Jan 21, 2014
The only opinion that matters is that of a licensed appraiser when it comes to a lender. Eveything else is just a "best guess" or something that is generated by a website like Zillow or Trulia. These are done without entering the property, so how can anyone take them seriously?
0 votes
Manuel Brown, Agent, Chicago, IL
Wed Feb 27, 2013

Friends ask me about these estimates from sites all the time and I always let them know not to place much value in them. In order to determine true value for your home you need an appraisal or an experienced broker to run Comparative Market Analysis for you.
0 votes
Philip Sencer, Agent, Chicago, IL
Tue Feb 26, 2013
No one pays any attention to estimates on this or other sites and no one ever refers to them when writing an offer. It is irrelevant.
0 votes
Cindy Wilson, Agent, Chicago, IL
Tue Feb 26, 2013
Don't get worked up about these online estimates. They have been off for years. The only market value on your home that matters is one done by a professional for the purposes of financing or selling. The pros don't look at any of these online "estimates" either.
0 votes
Ron Thomas, Agent, Fresno, CA
Tue Feb 26, 2013
I agree with Bill;
any Buyer who uses only this information to make an Offer on your house, would be an idiot.
Some "estimates" are way-high, and some way-low.
We always encourage Buyers to have a new CMA before doing anything.
0 votes
Ivan Sagel, Agent, Chicago, IL
Tue Feb 26, 2013
Hello Genomele,

It is just that, an "estimate". Other than snow, nothing has changed since yesterday. If you are interested in selling your home or would like a better understanding of the market, give me a call or send me an email to schedule an appointment.

Best regards,

Ivan Sagel
0 votes
Matt Laricy, Agent, Chicago, IL
Tue Feb 26, 2013
These estimates are always way off. I wouldn't pay much attention to them.
0 votes
BJ Tregoning, Agent, Chicago, IL
Tue Feb 26, 2013
Don't worry too much about this. Any online "estimate" of value is going to be wrong, plain and simple. Unless you live in a cookie cutter subdivision in the suburbs, then it MIGHT be a little more accurate.
0 votes
Joe Schiller, Agent, Chicago, IL
Tue Feb 26, 2013
it's a game for professionals and nothing is surprising
0 votes
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