How to Figure the Fuzzy Math of Internet Home Values
How to Read Zillow, Trulia and Other Online Home Price Websites - WSJ.com
Jason Gonsalves worked hard to turn his 6,500-square-foot stucco-and-stone home in the suburbs of Sacramento into the ultimate grown-up party pad, complete with game room, custom wine cellar and an infinity-edge pool overlooking Folsom Lake. When interest rates fell recently, Mr. Gonsalves, who runs a lobbying firm, looked into refinancing his $750,000 mortgage. That's when he got startling news—the home had dropped more than $200,000 in value while he was renovating. Or at least, that's what one real-estate website told him. Another valued the house at only…
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