Ever try typing your address into Zillow.com and wonder how the heck they value your home at $30,000 less than your neighbor’s that is smaller? Or type your address into Trulia.com and find it is $40,000 more than Zillow’s estimate?
The truth is, these sites are at best ballpark estimates and vary greatly depending on the market activity in your area of interest. These sites base their estimates on recently recorded sales from the county. What they do not take into account are things like condition, upgrades, and lot premiums paid for views or location. Within the same city there can also be value differences associated with the quality of schools, proximity to parks, recreation and shopping.
