Serhiy Onyshchuk / Realty One Group Preview – Northwest WA Real Estate, Call 425.610.SOLD (7653)

From the blog:

I already shared about phone calls from buyers on low-priced short sale listings on Trulia. Well,  lately I’ve also been getting more calls on… RealtyTrac listings found on!

Here’s a screenshot of a RealtyTrack listing in Marysville WA,  I got called on today:

Trulia RealtyTrac Listing Screen Shot (Marysville Home for Sale)

Look at the picture. No matter the location or condition, 48K  for a home in Marysville, WA looks like a smoking deal! What’s going on?

RealtyTrac is in the business of selling information. They collect information from public records, foreclosure notices etc. Then, they post snippets of information on websites like Trulia.

The price like the above surely attracts buyers’ attention but for more details you need to subscribe to their services. I just played on RealtyTrac website trying to find the subscription cost and couldn’t find it. You’re probably going to be notified after you subscribe :).

Now, the price listed is not the asking or “for sale” price. If you click on the “What’s this button” next to the price, you’ll see the provided explanation (my emphasis):

“Amount paid for the property the last time it sold. In the case of Pre-Foreclosure and Auction properties, this amount represents the amount the owner in default paid for the property when he or she originally purchased it. In the case of REOs, this usually represents the winning bid amount at the auction and, therefore, the amount the foreclosing lender needs to recoup to break even.”

So, the price shown is basically the latest number RealtyTrac found in previously recorded documents. The point is that the RealtyTrac listings on Trulia:

  1. May not currently be up for sale
  2. The price listed is neither the asking price, nor the market value.

I was lucky that this particular house was, in fact, for sale. I entered the street name of this Marysville home in the MLS, and here’s what I found:

MLS screen capture

It’s NOT 48K! It’s 235K! Is it worth to subscribe to get more info about the property that is almost 5 times more expensive than you thought?

This is not all. Since I got the MLS number, I used it to search Trulia for a listing with that number in Marysville, WA. And here you go:

Trulia Listing Screen Shot

Yes, it’s the same Marysville home listed twice on Trulia in very different price ranges!

I imagine there are some reasons Trulia provides RealtyTrac listings on their website. Still, I have to wonder if that really benefits or just confuses the buyers.

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