69°F
weather icon Windy

Realtor says Zillow, Trulia ‘way off’

Dear Expert:

“Why is it when I do property searches on the Web, the prices for our neighborhood are far off from the comparable lists we get from a local Realtor’s newsletter?”

Price Perplexed

 

Dear Perplexed:

Automated valuations are the cause for the discrepancies between Realtor newsletters and consumers searching property values on the Web.

In many cases, I find Trullia, Zillow, Redfin to be antiquated data and not updated. They can range from 3- to 6-month-old information, and that causes values to be way off.

As of April 7, the Las Vegas Multiple Listing Service cut off these sites, so they do not get instant values like they once did. Realtor newsletters come from up-to-date sources through our current MLS system and title companies.

Old data conflict with new, and hence we get a confused consumer that does not know what to believe. That is why it is always important to use a Realtor as we can identify communities that have “new build” and resale older homes.

Automated valuations do not take into consideration new homes vs. resale or upgraded houses in communities such as semicustom and track. Everything now is mixed, and you can have an apartment complex next to a new-build community, which throws values off. Realtor newsletters offer up-to-date trends and statistics that point out the facts and provides what the consumer genuinely needs and wants: up-to-date, true values.

Gianno Buonaguro

Sales executive, Vegas Dream Homes

702-528-2810 Cell

Don't miss the big stories. Like us on Facebook.
THE LATEST
Luxury new home sales skyrocket since 2020

Demand for new luxury homes in the Las Vegas Valley remains strong and builders and developers expect a great 2024 coming off a Super Bowl that saw members of the Kansas City Chiefs rent out multi-million-dollar homes with displays on social media.

Trilogy Sunstone to host grand opening Feb. 24

Northwest Las Vegas Valley age-qualified community, 55+ Trilogy Sunstone, is introducing three new model homes from the limited-series Amalfi Collection this month. On Feb. 24 from 1 to 4 p.m., homebuyers are invited to a grand opening celebration, where they can tour the homes and enjoy live music, light appetizers and beverages.

Lennar closes 2023 as No. 1 homebuilder

Lennar maintained its top position of the annual builder rankings for 2023 as the Las Vegas market recorded a 22.5 percent increase in net sales year-over-year.

Why are HOA potlucks so complicated?

Q: Are there any requirements for a potluck that would be held at the community clubhouse? I received three conflicting opinions.

Downtown Summerlin features Tanager Echo

Recently named the winner of Urban Land Institute’s 2023 Placemaking Award in the Transformative Category, Suburban Division, Tanager Echo in Summerlin is a 294-unit wrap-style multifamily apartment community.

Vegas luxury home market kicks off year with $19M sale

The Las Vegas luxury home market got off to a strong start in 2023 by securing the second highest number of sales in history to begin the year, culminating in a $19 million sale at the Summit Club in Summerlin to close January.

Homeowner gets bid but does not follow proper procedure

Per Nevada Revised Statutes 116.31086, bids must be opened and read during the board meeting. Technically, the board could disqualify the vendor’s bid.

Marble Mesa at Lake Las Vegas offers quick move-in homes

Lake Las Vegas is ready for spring. Dozens of new-home communities are blooming with special offers and quick-move-in homes, including several available at Marble Mesa by Richmond American Homes. The intimate collection of just 84 single-story homes is nearing its last available homes, with some ready-for-move-in in as little as 30 to 60 days.

Cordillera by Toll Brothers in Summerlin offers rooftop decks

One of the unique neighborhoods in the growing Summerlin West area features optional rooftop decks that overlook the Las Vegas Valley: Cordillera by Toll Brothers, located in the Redpoint Square district.

High-rise condo sales slow in 2023; prices climb

Sales of high-rise condos in Las Vegas slowed in 2023 compared to the previous two years but sellers willing to put them on the market were rewarded by the highest price per square foot paid in the valley’s history.