Posts tagged rpr

Trulia Enters the Cluttered and Confusing Home Valuation Arena

With one more entry into the (automated) home valuation arena, how does one make sense of all the methods of valuing a home in this market?

There are at least six methods of home valuation out there right now; I know that my customers and clients are going to use the ones that they find; my challenge in advising them is to put these valuations in context and either demonstrate their respective accuracies or most likely, prove just how wrong they are. And why.

Trulia’s Estimates – (automated) – “Trulia has jumped into the home value game.” Now that they’re here, so what? While the Trulia Estimate are only in San Francisco right now, presumably they’ll be making their way nation-wide.

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Showed Houses in Charlottesville Last Week -or- Why AVMs Suck

Zillow hasn’t been in the three townhomes in another neighborhood in Charlottesville , one of which needs to be gutted, one with a moist basement and mold coming on a piece of ceiling hanging from the bathroom and another one that absolutely needs to be taken to the studs.

…The product of an automated valuation technology analysis, public record data, and computer decision logic combined to provide a logical calculated estimate of a probable selling price of a residential property. … An AVM typically includes:   â–ª An indicative market value for many residential properties nationwide.   â–ª The Tax assessor’s indication of value, if available.   â–ª Information on a subject property and recent sales history.   â–ª Comparable Sales analysis of like properties.

…Cyberhomes puts it at $184,842 , the price range is $166,357 – $212,568: – You have to agree to have a Realtor contact you to provide the report.

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Light Blogging Next Week – I’ll be in New York

I’ll be doing a session at the REBarcamp on Tuesday and sitting on a panel on Thursday. Importantly, we’ll be discussing the RPR – the Realtors Property Resource, which is a product which should give Realtors far more information on properties – which will be available only to Realtors – and will offer (hopefully) the most comprehensive information all in one place. … If you’re a consumer interested in real estate data, information and analysis, automated valuation models you’ll probably find the 30 minute demo interesting. “An incredible accumulation of data from multiple sources the in a graphical manner that really can give a listing agent a perfect snapshot of what’s happened to a property.”

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