Sunday, March 26, 2006

This doesn't look like Kansas (and we don't keep records like they do)

Today I recieved an email:

To: Michael F Daly, True North Realty Associates
From: Stephen Schramke, Instant Home Valuations.com
Subject: Exclusive Introductions to Active Sag Harbor Sellers and Buyers!


And Mr. Schramke promises:

Get qualified Sag Harbor sellers and buyers delivered exclusively to your email box.
The Instant Home Valuations Report Sponsorship Program GUARANTEES targeted introductions to Sag Harbor sellers and buyers who are using the Internet to purchase automated online home valuation reports.

So, I went on their website as a consumer wanting to see what they offered consumers... http://www.instanthomevaluations.com/home.php

ONLINE HOME VALUATIONS!
BUY OR SELL WITH CONFIDENCE AND KNOWLEDGE!
FREE SALES HISTORY REPORT!
Enter Your Address Below:

...and looked up my own property...

Most Recent Sales Date: 09-june-1989

...sorry, I bought this home in August 2004. Next!

In this market (South Fork of the East End) the problem that many home evaluation websites have is that they rely on data from the local municipalities and the area MLS to form their "valuations" or "(z)estimates" as you may have seen on www.Zillow.com .

Most "traditional" markets (like in the heartland) use MLS and keep good records, but Suffolk County along with Southampton and East Hampton townships are all far behind and have incomplete in property data. Adding the fact that only approximately 10% of the east end listings are on MLS, these digitally dynamic websites can't possibly have good data. So, what do we do?

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