Hubby is out working, I just finished a delicious dinner salad. Opened a new escrow today, still waiting to hear back on another offer out. Closing a listing escrow Tuesday. So, obviously, settling in for the evening. Thought I'd peek around and see what's interesting in the news, etc.
Came across an article that is so right on. "How To Figure The Fuzzy Math Of Internet Home Values". There are several websites that give Zuestimates on a home value. Some sellers like to start here before they talk with a Realtor about possibly selling their home. I say, right on, again! I want my clients to have as much information as possible about what they think their home is worth before I even walk in the door!
But, I want them to get it from a reliable source.....(yes, that would be me).....before they make a firm decision.
Zillow, Realtor.com, Trulia...and several more will certainly assist a seller in determining an approximate value, but they have self-admittedly found numerous errors in their calculations. I'm glad they admit them.
Now, they have gotten much better, trust me. I used to hate going into a home that the seller met me with "Zillow says my house is worth xyz!" When xyz was significantly higher, or lower, than my knowledge presented.
And, Realtor.com, they were weeks behind. They are better too!
All of them are getting better....but, they are not perfect. And, neither is any Realtor that says they are. We can show our stats of list price ratios to sale price. We can show the market as it stands now, and 3 months ago. We can suggest, based upon our experience, where we think the market is going to be in 3 months. We can tell you what our marketing plan is. And, because we are the ones that are pounding the streets, seeing the inventory, working the escrows....we know significantly more than a computer algorithm.
Enjoy the full article: