To start, I would like to note that the Trulia estimate is an estimate derived from our proprietary algorithm. Our estimates use a ton of info, including recent sales of similar homes and home facts like number of bedrooms and bathrooms, square footage, and more to provide insight into what a home is worth. This data is compiled from public records and other sources for counties across the US. Please know that we do not intend for the estimate to replace a comparative market analysis as they can take into account market intricacies that the Trulia Estimate cannot. The Trulia Estimate is really meant to be a starting point in determining a home’s value and is not an official appraisal. To learn more about the Trulia estimate, we encourage our users to follow this link: http://www.trulia.com/trulia_estimates//.
Please also note that we do not directly edit or remove Trulia estimates. While we monitor customer feedback for systematic issues with the algorithm, we do not change individual estimates in response to customer feedback. We understand however, that some homes may be unique in ways that are not well captured by existing data. To provide more information on your estimate, we encourage you to claim your home and update its facts if you notice any information is outdated.
Updates to your home facts will be factored into your home's Trulia estimate, however, if the updates are not significant enough to impact the home's value, your estimate may not change.
If you're looking for a precise value for your home, we recommend you talk to a real estate professional.
One thing to consider is that when you do put your home on the market, the Trulia estimate will disappear as it is a feature only available for off market properties.
I hope the information I provided today was helpful in addressing your concerns.
For future reference, you can feel free to contact us about this type of inquiry through our contact form here:
Consumer Care Advocate