Beware Of Home Value Estimator Companies On The Web

By
Real Estate Agent with Keller Williams Realty 0575737

ZillowI don't know if I ever wrote a post about a WARNING of value estimator companies for your home or not, but

BEWARE Of The Values They Give You.

Not to cast aspersions, but sincerely with NO APOLOGIES I have easily seen true values $100K HIGH, and to me that is no service to the consumer. Values are ALWAYS estimates with ranges of error by these companies, agents, and appraisers. But I like the term BALLPARK that the number given may be CLOSE. In some states, like Texas, historical SOLDS are non-disclosure except to licensed agents so I don't know where they get there baseline data from. A good starting point perhaps with these companies but

TALK TO A REALTOR for your best information when setting the asking price on your home.

THEY LIVE IN THE MARKET!!!

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Ambassador
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Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

OH, Gary, I totally agree!! And, sadly, the Joe Average Consumer looks at these numbers as if they are written in stone. Occasionally, I will get a call from someone who thinks they know and it becomes a little battle of the wits trying to disspell some of what they feel is accurate information. 

Jun 04, 2014 02:31 AM #1
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Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Face it; Zillow has become a brand name for people trying to set a value for their houses. Our county tax assessor is constantly frustrated by Zestimates...

Jun 04, 2014 04:55 AM #2
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Dale Baker
Baker Energy Audits and Commercial Properties Inspections - Claremont, NH
New Hampshire Relocation Real Estate Information

Howdy Gary

Gary my AR friend, folks whether they are looking to Buy or list their home sure do want to beware of those estimators out there.

Jun 04, 2014 07:10 AM #3
Rainmaker
3,977,733
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I agree and that is why I am NOT pleased to be associated with Trulia on this sight.  I have to bit my tongue a lot.

Jun 04, 2014 07:53 AM #4
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William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

Hi Gary, Perhaps cities and counties could start to use these estimates of value to set the tax rate. Maybe sellers would be a little less liking of the estinates of value. Just saying...

Jun 04, 2014 04:13 PM #5
Rainmaker
394,962
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Gary, I had a Zillow sales call last week. I talked about this very issue. He kept saying it is only an estimate, a starting point for the buyer. I repeated how far off the estimates were, I had checked several in my local market and found most were $60-100,000 off. This puts the buyer on the wrong track from the start. Yes-BEWARE!!

Jun 04, 2014 09:24 PM #6
Rainmaker
1,523,566
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

I so agree with this Gary, sometimes the internet can make our jobs so much harder.

Jun 07, 2014 09:26 AM #7
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Gary Woltal

Assoc. Broker Realtor SFR Dallas Ft. Worth
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