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We don't have much else besides our house and I like to track the value of it. Sometimes it's hard to save money month to month so if Realtor.com says that my house increased in value by like $500 that month then I figure that's like money in the bank and I don't really have to kill myself to put the money in savings because I figure that I am saving through my house. That feels good and I can do something else with that money. I love to keep tabs on the value of my house just like I watch my bank balance and I love how Realtor allows me to do that. I'm one of those people who likes to stay on top of things.
Since tracking my house's value with Realltor, I also decided to reduce the amount put into my 401k plan because I really need that money for something else anyway. Realtor said my house went up by about 14,000 last year so I can certainly feel good about that since without even doing anything I'm meeting my savings goals!...
Quote:
Realtor.com (stylized as realtor.com) is a real estate listings website operated by the News Corporation subsidiary Move, Inc. and based in Santa Clara, California.
You do know that realtor.com is not owned by a bunch of realtors but rather by a mass media corporation called the News Corporation?
A condo near me: Zillow has it valued at $321,887. Realtor.com's value is $319,000. Redfin's value is $302,548.
I've seen ads for Zillows and some stuff about Redfin but I don't really have any idea who they are except that they seem to be some people who just put up a website. Ya think I want to trust them more than the Realtor's own website. No way. Never. I go right to the source. thank you and I respect your opinions but for me the choice is clear. Realtor gonna win every time for me.
You make a good point, it's always worth having that local and active realtor. I think the confusion about who you should check for estimates really comes down to why you care about the value and what exact estimate you're looking for.
If your just trying to track the "value" of your home then go ahead and use any process you want to. In this case a local Realtor might have a better understanding because the home isn't active so the information being used is possibly from an older listing or past property assessments. But the big difference between them and Zillow is Zillow is much more complicated and is a process for people actively buying and/or selling. Therefor the listings are geared to look at more perimeters in terms of getting the home sold versus you simply want a property evaluation to compare against other properties whether they are selling or not.
Nothing wrong with any of the processes, they're just on different levels of complexity and for different situations and comfort levels. Real Estate has a lot of levels so all these different methods and sites really can help out if you know what you need. Most people who aren't selling won't like their Zillow estimate because if it's been a while since the homes been on the market then Zillow will probably give a low ball value for the home because it isn't being advertised and hasn't had an updated listing leaving them with low info and therefor lower value. In this case a local realtor may give you a higher value because that home is more valuable to them as a comparable so it helps them market more if they can portray it as more valuable.
No way is right or wrong, their just geared differently for people depending on their goals after getting the information. In the end the only person that need to be happy with the results is you so do what you want. It only ends up mattering if you look at selling or making new arrangements with your property anyway.
Last edited by musicfamly5; 11-11-2018 at 12:25 PM..
Zillow seems spot on as to price to me in the two homes I have lived in recently. Never checked on Realtor.com. I thought they were only homes for sale.
With a 100 years of real estate experience, I trust their online valuation of my house more than someone like a zillows or some other websites....
I'm not sure where you got this info, but Realtor.com is not run by your local realtors and It is absolutely not over 100 years old, you're thinking of the National Association of Realtors; the originating body to create the MLS and hold the licences required to access and list across the whole country on Realtors.com but have no control or influence over the current website and it's operations. Its a huge and long history explained best here: https://en.wikipedia.org/wiki/Nation...on_of_Realtors
Maybe back in the day when the MLS was under the direct control of the NAR you could say that the property evaluations were definitely human checked and accurate to the properties market value, just like everything today Realtor.com is run mainly by data analysts and computer algorithms that uses data and site driven information to factor in the home value estimates you see online. It's all marketing, no realtor gave Realtor.com the information about your property to update your home estimate you see. And you're satisfied with it probably because you're seeing a bigger number on that site over the others which means you'll probably sell on Realtor.com.
That's all that estimate number is saying and unless you go to a LOCAL realtor who has gone to your home and pulled the true comparables then your not really getting a true estimate. Like everyone has stated, Realtor.com is just like all the others. They use computers to play with the price just like Zillow. There is no difference other then how the companies began and the brands. But they do the same thing with the same kind of people (not in house realtors checking up on the house and local market, but a data analyst and individuals who do this work from HQ in Santa Clara CA). https://en.wikipedia.org/wiki/Realtor.com
I'm not sure where you got this info, but Realtor.com is not run by your local realtors and It is absolutely not over 100 years old, you're thinking of the National Association of Realtors; the originating body to create the MLS and hold the licences required to access and list across the whole country on Realtors.com but have no control or influence over the current website and it's operations. Its a huge and long history explained best here: https://en.wikipedia.org/wiki/Nation...on_of_Realtors
Maybe back in the day when the MLS was under the direct control of the NAR you could say that the property evaluations were definitely human checked and accurate to the properties market value, just like everything today Realtor.com is run mainly by data analysts and computer algorithms that uses data and site driven information to factor in the home value estimates you see online. It's all marketing, no realtor gave Realtor.com the information about your property to update your home estimate you see. And you're satisfied with it probably because you're seeing a bigger number on that site over the others which means you'll probably sell on Realtor.com.
That's all that estimate number is saying and unless you go to a LOCAL realtor who has gone to your home and pulled the true comparables then your not really getting a true estimate. Like everyone has stated, Realtor.com is just like all the others. They use computers to play with the price just like Zillow. There is no difference other then how the companies began and the brands. But they do the same thing with the same kind of people (not in house realtors checking up on the house and local market, but a data analyst and individuals who do this work from HQ in Santa Clara CA). https://en.wikipedia.org/wiki/Realtor.com
That's a type of airplane, right?
For flights of fancy, right?
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