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Trulia, where my 3BD/2BA home is listed as a 2BD/1BA valued at less than 1/2 it's appraised value. It's hard to trust a study that uses a data like this. Even

Trulia, where my 3BD/2BA home is listed as a 2BD/1BA valued at less than 1/2 it's appraised value. It's hard to trust a study that uses a data like this. Even though my situation is anecodotal, sites like Trulia and Zillow have been criticized for their data accuracy in the past.

hnnewguy 12y ago
>It's hard to trust a study that uses a data like this. If you're only willing to trust data sets that are 100% clean/accurate, then you aren't going to trust many data sets. Is there any reason to believe that Trulia has systematically biased or inaccurate data?
- relaytheurgency 12y ago
  I didn't say 100% accurate, but yes there is reason to believe that: http://www.trulia.com/corp/files/2011/05/trulia_direct_reference_whitepaper.pdf http://www.trulia.com/corp/files/2011/05/trulia_direct_refer... http://info.trulia.com/file.php/5288/Trulia-Estimates-Regional-Report.xlsx http://info.trulia.com/file.php/5288/Trulia-Estimates-Region...
buckbova 12y ago
Appraisals are completely inaccurrate. They take comps from around the area and once over of your place and put a value on it. I've seen appraisals of the same property vary by as much as +/-25% based on which comps they choose and the appraiser's mood that day. Going into our last housing bubble, appraisers were not estimating true value of a propery but propelling it ever higher because of short supply. Every new sale lifted the prices higher because every appraisal was based on a previously inflated sale price in the area.
- relaytheurgency 12y ago
  By what measure do you judge a home's value beyond looking at it and comparing it to the neighborhood? Let's compare our anecdotes: In mine the housing price is off by 100% and the home's basic properties are incorrect. In yours the value varies by 25% in some measurements. I would say the appraisals are much more accurate. And when you consider that the appraised value determines the loan amount (and thus whether the home is even sold), I would consider it a much more important metric. ETA: And if your mention of the bubble is to suggest that my home was appraised at a higher value and is now lower to reflect the true value, I purchased my house a year ago when prices of homes were at some of their lowest points.
  - buckbova 12y ago
    Late 2011 through mid 2012 were probably the lowest points. No, I'm not suggesting your appraiser's valuation is worse than trulia. During the bubble appraisers were valueing homes at whatever the ask was because there was nobody to say any different. An appraiser is not a highly trained or skilled person. Their value judgement is crucial so it should be a much more involved process than it is with more than one person's opinion reflected.

hnnewguy 12y ago

>It's hard to trust a study that uses a data like this. If you're only willing to trust data sets that are 100% clean/accurate, then you aren't going to trust many data sets. Is there any reason to believe that Trulia has systematically biased or inaccurate data?

relaytheurgency 12y ago
I didn't say 100% accurate, but yes there is reason to believe that: http://www.trulia.com/corp/files/2011/05/trulia_direct_reference_whitepaper.pdf http://www.trulia.com/corp/files/2011/05/trulia_direct_refer... http://info.trulia.com/file.php/5288/Trulia-Estimates-Regional-Report.xlsx http://info.trulia.com/file.php/5288/Trulia-Estimates-Region...

buckbova 12y ago

Appraisals are completely inaccurrate. They take comps from around the area and once over of your place and put a value on it. I've seen appraisals of the same property vary by as much as +/-25% based on which comps they choose and the appraiser's mood that day. Going into our last housing bubble, appraisers were not estimating true value of a propery but propelling it ever higher because of short supply. Every new sale lifted the prices higher because every appraisal was based on a previously inflated sale price in the area.

relaytheurgency 12y ago
By what measure do you judge a home's value beyond looking at it and comparing it to the neighborhood? Let's compare our anecdotes: In mine the housing price is off by 100% and the home's basic properties are incorrect. In yours the value varies by 25% in some measurements. I would say the appraisals are much more accurate. And when you consider that the appraised value determines the loan amount (and thus whether the home is even sold), I would consider it a much more important metric. ETA: And if your mention of the bubble is to suggest that my home was appraised at a higher value and is now lower to reflect the true value, I purchased my house a year ago when prices of homes were at some of their lowest points.
- buckbova 12y ago
  Late 2011 through mid 2012 were probably the lowest points. No, I'm not suggesting your appraiser's valuation is worse than trulia. During the bubble appraisers were valueing homes at whatever the ask was because there was nobody to say any different. An appraiser is not a highly trained or skilled person. Their value judgement is crucial so it should be a much more involved process than it is with more than one person's opinion reflected.