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Data is Not Always Enough


Data is Not Always Enough

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Steve Jones
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More data might not get you the specific price on a house, but it will often help get you the reasonable estimate of whether a house should sell for more or less than another house.
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Robert.Sterbal (8/11/2014)
More data might not get you the specific price on a house, but it will often help get you the reasonable estimate of whether a house should sell for more or less than another house.


+1

More data, might also help in determining if a house will sell quicker than another house. A lot of that depends on variables - sure. But more data can help target some of those variables and better understand some of the variables.



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Robert.Sterbal (8/11/2014)
More data might not get you the specific price on a house, but it will often help get you the reasonable estimate of whether a house should sell for more or less than another house.

I'd disagree. It might tell you if you're in the right range, +/- xx%, but it doesn't necessarily help you determine what the value of the house is, or what someone will pay for it.

This is one of those places where staleness of data, along with the cumbersome amount of details that can, perhaps should be, and often aren't, can prevent one from easily determining a price.

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