Maddog1956 wrote:Are we even talking about the same site? Isn't Zestimate from Zillow?bcoach wrote:The problem is that they do not have a feed from MLS. They gather information from other sources, massage it and publish it. You very often find homes on their site that are not even for sale. Their Zestimate is a joke. You can't sit at a computer in some other state and give values of homes in North Carolina or Virginia or anywhere else. I am not guessing their information is grossly inaccurate.ASUPATCH wrote:Only true source is what is currently listed on the MLS, as it is a measure of what you can currently go out and buy.bcoach wrote:Not here to argue housing prices but I will tell you that Trulia is the most inaccurate source of real estate information in the country.
I've been looking for a house for two years (have purchased/sold a few in my life) and have worked on the computer side of things with Tax Assessors, Realtors, etc for many years so I know a little about how things work.
No matter what they have you believe their numbers come mostly from the same place. MLS may get some first but in the end all the sites get the same numbers. They come from US Census, Tax and Register of Deeds offices and Sales Analysis/ratio reports, etc.
While nothing is perfect (even someone with local knowledge coming in your home), online sites do fairly well in general. Where they do miss it the most is coastal areas, lake areas and mountain areas, etc where being oceanfront, view or mountain views is priced totally different than one without these features. However even so, comparing homes in different areas take these differences in consideration because in the end it comes down to listing price vs sales.
I think Trulia numbers will hold up to get the point across that Boone isn't as high as some may think, plus we all know that there a other things to consider.
Completely 100% false. MLS has NOTHING to do with algorithms and computer estimates of value. Apples and oranges. Zillow and Trulia are widely and rightfully skewered for their computer valuations. In some metro markets with cookie cutter tract housing they can be relatively close buy for most markets they suck. Also the data on their websites is very often dated and inaccurate.