Friday was not a great day to be in the online real estate information business. After Trulia’s horrendous earnings report of a $11.1 BILLION loss in the December quarter of 2013, the stock tanked almost 18%. As a secondary effect of the report, rival Zillow also fell about 10%. Click here to read the full story.
One thing to remember about sites like Trulia and Zillow are that while they spend a lot of effort marketing their site to sponsors, agents, brokers and end-users, it is ultimately your trusted Realtor who can give you the most ACCURATE information on any property. I can’t tell you how many times I have fielded the response “Zillow says this house is for sale” when it was actually withdrawn or even sold two months ago. Remember, third-party sites not linked directly to your Realtor will always have a lag time when it comes to updating information.
What Trulia and Zillow do is rather extraordinary – they gather MLS and public record data from all over the country and display it for the world to see. But something so complicated does have it’s drawbacks, and increasingly Realtors have similar tools (like our new Realtor Property Resource tool or MLS Data Co-Op) that can find the most up-to-date information for you.
As an investment, I’d buy into Trulia right now only because an 18% dip only has one way to go and that is up. It’d be an easy way to make a few bucks at least!
David R. Madaffari, Realtor
Keller Williams Realty – First Choice
Cell: 225.772.3283 (DAVE)
37325 Market Place Dr. Ste D
Prairieville, LA 70769
Each office independently owned and operated