Zillow and Tulia VS MLS
I recently a property that would be a great buy and hold property at $150,000. The only problem is... After looking at comps on Zillow that sold in the last 6 months, it looks like similar properties sold for $135 to $140. I checked MLS and these properties dont show up there, but they are on Zillow.
Whats the deal here. If they sold and are Zillow, they should be in MLS correct? Here are some other thoughts.
I dont think the property will appraise for more than $140,00 since 20 days ago a property exactly like, if not nicer only sold for $140,000. The tell tale sign is that it was pending at $145,000 but the closed at $140,00 which tells me it didnt appraise.
Is there any gap in my logic here?