Recent Sold Comparables On Public Sites - Actually Answered By Management - Part 1

The following post compares the accuracy of most sites on the internet compared with the information available to Realtors® on sales.  Realtors® continue to be the best source of current information.

The question below was asked by an agent who was actually trying to put his sold comparable into the Trulia System.  They have no option for putting in correct data.  See below the response direct from Trulia.
http://www.trulia.com/voices/Using_Trulia/How_do_you_add_a_closed_sale_to_Trulia_for_comp_pu-257837
 
Actual Question: How do you add a closed sale to Trulia for comp purposes if Trulia has no record of the sale?

 

I went through the add a listing procedure and attempted to add it manually (Trulia does not have record of the sale for some reason), however, the add a listing feature doesn't give you the option to indicate that the property is closed, and I do not want it to appear active.

 

 

Trulia's Answer

Hi Luke,

Currently sold listings cannot be claimed by agents on Trulia and we use public records for comparables.

Regards,

Charlie Wheeler
Account Manager | Trulia

My opinion is that, I have a lot of respect for the public sites.  I think they are engineered to promote and get people talking about Real Estate. 

I enjoy Trulia's Q&A and have built up a huge profile and as a result I closed two transactions last year from Trulia buyers.

 
The most common question about these sites is their accuracy in locating, "Recent Sold Comparables".   Everyone wants to know if they are as accurate.  My answer is "Sometimes".
One of the most common places that public sites their information is the, "County Recorder's Office". 
Because California has so many foreclosures Trustees Deeds are recorded showing the transfer of title to either...

1.  A successful bidder on the home - Purchased by Cash buyers at a discount with no warranty.  Buyers are responsible for any back taxes, HOA fees, and or other liens. 
OR
2.  Back to the lender.   If the amount on this deed is the mortgage amount, and it only shows the first trust deed amount then the price will be lower than actual sales are for the area. 
This recorded amount shows up on the public sites as a SOLD comparable, BUT.....
Mortgage amounts, or cash discount purchases cannot be compared with actual, Recent Sold Comparables, where a buyer is purchasing the property in the current market. 


 

Contact me for specific Sold price information and Real Estate trends, per neighborhood, throughout Southern California.  If you're thinking of selling your home call me for a complete comparative analysis!   I do FREE virtual tours and offer staging advice from a Home Staging professional - To help your home sell quickly!

SEE MORE OF MY RECENT POSTS!   Search For Homes

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Contact me for information about living and playing in Riverside County, California!


 

Jane Grant Real Estate Broker In Riverside County, California -  DRE  01109492
Southwest Real Estate, Inc. 
Telephone:  866 621-0155

 

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Comment balloon 1 commentKate Elim • December 30 2010 01:59PM
Recent Sold Comparables On Public Sites - Actually Answered By…
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