Wednesday, November 7, 2007

Internet Information

I just read an article on MSN about how consumers like you can dig up "the dirt" on a neighborhood through on-line sources. It is pretty interesting that all these sites claim to have "expert" opinion in them with no screening to ensure the validity. Sites such as Zillow.com are gaining popularity and do have a lot of great information on them. However, not all the information is going to be current, let alone correct in some cases.
For example, home sales prices in Texas are not required to be disclosed and, therefore, not recorded in public record. (This makes the tax assessor's job a bit more difficult as well) So, the comparative data that is provided by Zillow and others is public tax assessment values that may not reflect market value of a home in Texas. Also, if an individual provides information through one of these internet sites, there is no way to validate it to make sure the poster does not just have an agenda. Why wouldn't a seller want to provide inflated price information to make their price look good?
How about digging up "the good stuff" on a neighborhood? Try using local Chamber of Commerce resources, City web sites, school district sites, or even asking to be put in contact with a resident. As a Realtor, I can not provide my opinion on a certain street or location, it is up to the consumer to make that ultimate decision on where they want to live (it is considered "Steering" and is prohibited by both my Realtor Code of Ethics, as well as law). However, I can provide resources for you to conduct a little research to help make your decision process easier, or at least more educated. And a Realtor can give you informed market value information based on sales prices recorded in the MLS.
So, before you dive into a web site that advertises it's expertise, ask a Realtor to provide local resources for you to get current, localized information. And if you want local real estate market information, a local Realtor will be your best resource.