Thursday, September 27, 2007
Still no sales price disclosure in Texas
You may have heard that the recent sales price disclosure bill failed to pass the Texas Legislature. While the main focus of the discussion has centered on the (theoretical) effect of sales disclosure on property tax assessments, the defeat of the bill affects automatic valuation sites, such as Zillow, and yes, VoxProperty.com.
At VoxProperty, our "MoBro" comparative sales tool uses residential sales data released annually from MLS, which the Houston Association of Realtors is not required to release, but does anyway. Unfortunately, the data is a trailing indicator of market value. VoxProperty is unique in that we solicit unrecorded sales and market value predictions from users, which in theory makes our predictions more timely than (for instance) Zillow's.
So you have two choices: lobby your State Legislator to resurrect the sales disclosure bill, or encourage all your friends to make market value predictions at VoxProperty.com!
At VoxProperty, our "MoBro" comparative sales tool uses residential sales data released annually from MLS, which the Houston Association of Realtors is not required to release, but does anyway. Unfortunately, the data is a trailing indicator of market value. VoxProperty is unique in that we solicit unrecorded sales and market value predictions from users, which in theory makes our predictions more timely than (for instance) Zillow's.
So you have two choices: lobby your State Legislator to resurrect the sales disclosure bill, or encourage all your friends to make market value predictions at VoxProperty.com!
