TEXAS IS A NON-DISCLOSURE STATE
Online property search websites offer a really convenient way for you to search for properties and gather some valuable information; like number of bedrooms, bathrooms, square footage, and price. But these online tools don’t always offer the best information and shouldn’t be counted on for the most reliable data.
Sites like Trulia.com and Zillow.com claim to offer site visitors instant property value information with the click of a mouse. What’s missing on all these sites is the human element. As convenient as it might be to point and click your way to a home valuation, it takes a real estate professional with the experience and knowledge of the area and market, to give a truly accurate market valuation on a property – especially in a market like Austin or Lakeway.
For example, below are three different properties sold and listed on Zillow and Trulia. Note the difference in price and then compare them to the approximate price derived from the actual MLS listing. (Texas is a non-disclosure state so we, as agents, are not able to publish the actual sell price.). When they compute their automated property valuations, they are pulling data from local taxing authorities, who are also in the dark about home selling prices. This typically results in under-valuation by tens of thousands (if not hundreds of thousands) of dollars.
Lake Travis home
Zillow – $830K
Trulia – $792K
MLS ~ $729K
Zillow – $250K
Trulia – $144K
MLS ~ $240K
For whatever reason, Trulia is off on all three listings. Zillow estimates are more in line, however is only closely “accurate” with one of the three. These are national portals…
So while online search websites are fun and interesting to browse, remember that you’re going to want to call a pro to help you buy or sell at the right price.
Meanwhile, my mobile app is perhaps the best available for searching for properties near you. Text “kwgk09dt” to 87778!