Are you planning to sell your home in 2014? Will you use Zillow data to price your home? How about using Trulia to find recent sales as a guide to price your home?
Well, in the absence of a Competitive Market Analysis (CMA) from a Real Estate agent then you might have to rely onTrulia or Zillow to determine a value range for the list price of your home. And that’s the problems will surface since reports from these sources are often at odds with each other.
To prove it, we tested these both Zillow and Trulia with some real home values on property that we manage in Los Gatos. This home is under contract with us for Property Management Service and we know the home’s condition and amenities rather well. Table below shows the results of our pricing attempt using these 2 sources:
|16500 Marchmont Dr, Los Gatos||16500 Marchmont Dr, Los Gatos|
|2 bed/2 bath||3 bed/2 bath|
As you can see from the results of these two searches even the basic floor plan information from Zillow and Trulia don’t match ! So, it’s no wonder that the pricing difference between these 2 resources is more than $137,000 which is a huge sum for a home owner to justify.
We agree that using one home is a small sample size, but the discrepancy on size and floor plan should give any home owner pause about using only Zillow and Trulia as their sole source of information to price their homes. Bottom line is that you will need to rely on a local real estate agent to help you sift through the noise that you find on internet and determine your home’s fair market value.
So, Contact Us to get a Free Home Value report that you can use to pre-market your home to perspective buyers and investors.