Should I Trust Zillow/Trulia In Determining A Homes Value
Do you want to get frustrated, look up the value of your home on Zillow…then Trulia or any other home value provider. San Bernardino and Riverside residents who would like to know the value of their house or the one they are looking to purchase, have generally relied upon websites like these to get a basic idea on the value of a house.
Does anyone really understand how these internet sites calculate the values…maybe they just pull public records and lump every transaction into the equation. Or they just reach up into the clouds and come up with a number that fits into some obscure formula. Does it really matter if the information is incorrect? Of course it matters!!! It is still bad information and how is anyone suppose to make a decision on that.
All I know is every time I needed the value of a property for a refinance and used these sites, the actual appraisal never came close. The appraisal was generally far less than what these websites had to report.
So what good are these websites if the home values are not correct.
INFORMATION!!! The information in the blogs or answers given by the professional is generally right on. Some of the staff write articles that are relevant to the industry. Heck, I even have a blog on Trulia…so not all information is bad.
So how did I get over my frustrations of relying on these sites for a homes value, I stopped using them for this purpose and found another source. There are a lot of appraisers out there who are suffering from a down turn in the housing industry, some have gotten fairly creative and that is what this whole article is about.
Spend about the cost of a dinner for two and have a professional provide the value. There are plenty of websites that provide (at a cost of less than $50) a professionally rendered report based on actual comparables in your neighborhood. I have used several over the past several months and have found they are extremely reliable and I have not had an issue with the value of a house since then.
Here is a list of some of these websites that I have used that are accurate, reliable and quick.
If you are looking into purchasing a house, your real estate agent is your best resource. Besides, they will do this for free. But if you would like to get a second opinion, this option is not a bad way to go. If you are looking into refinancing, ordering one of these reports will save you time, money and potential heartache.
If you are serious about refinancing your home or you are about to start looking for a new home, click here to complete my secure online application and send me an email telling me you read this article and I will order the report for you.
May 9, 2011 by Mark Estermyer · Leave a Comment
Mark Estermyer is a Senior Loan Officer with over 14 years experience in the mortgage lending industry. Mark's team works for RPM Mortgage, a private mortgage banker. At RPM Mortgage, we offer FHA, VA, all conforming and non-conforming loans. However our specialty are the Jumbo and High-Balance Conforming Loans. Mark can be reached at (909) 863-0000 or by email marke@pchfund.com.
