Many new websites have been started recently that supposedly tell you what a home is worth and show you the most recent sales data from that neighborhood/area. The question is...are they accurate?
"The percentage of error on these estimates is still very large," says Delores Conway, director of the Casden Forecast at the University of Southern California Lusk Center for Real Estate. If there are not many comparable sales in one area, for example, she says, "the estimates will have huge errors in them."
What's the point of the story? If you're looking to buy or sell, call a Realtor in your area! Most Realtors will supply that information for you FOR FREE! And always remember, if you're going to buy a house, you can use a Realtor to help you every single step of the process COMPLETELY FREE OF CHARGE!!! Only sellers pay commission, so if you're a buyer...you've got nothing to lose and everything to gain by using a Realtor! Why trust the data from some impersonal website when you can use a Realtor to show you all the home sales (with the accurate data from the local Multiple Listing Service)??? Also, good luck getting that website to write the contract for you and negotiate the deal!
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