I was excited to see that another real estate site, Trulia was trying to provide buyers with an estimate of property values. There are several features about Trulia that I like, for example, how Trulia lists FSBOs as well as MLS listings. It has easy to navigate maps, which also show recently sold homes. They have easy to find information on local schools, the community etc., so I thought I would put the site to the test.
I decided to look at a property currently for sale in my area- 362 E Vermont, Gilbert, AZ- and see how well Trulia stacked up with other sites.
According to Trulia, the Vermont property is listed at $980,000. It states that the sq. ft. price is $281, vs $179 as the average square price in the area. On its rating scale, it rated that as a little higher than average. (It looks a lot higher than average to me.) It states that Trulia found this site 56 days ago.
I looked up the same house at ZipRealty. I discovered that Trulia’s information isn’t current. Although Trulia found the listing 56 days ago, the house has been on the market 77 days. I also discovered that the price of the property was DROPPED to $925,000 on 6/11. (I find that to be a serious omission on the part of Trulia.)
I tried looking at the same property on Zillow. Zillow’s "zestimate" for the property is $796,000- which I believe will be a lot closer to where this home would probably sell. Zillow however, offers no listing information.
Bottom line- Trulia offers some useful information- I particularly liked the maps. However, I wouldn’t try and use Trulia as a stand alone tool in the Phoenix area market. If you want to evaluate a property’s price, you are still going to have to do your homework.