Posts Tagged ‘Zillow’

ACCURATE MLS DATA OR???

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Real estate agents in Silicon Valley enter their “for sale” listings into the MLS Listings data base as soon as the Paperwork is signed.

These listings are immediately available for the public to see by signing on to MLS Listings.com. or at Realtor.com.

No paid for advertising or promotions, just 100% real time accurate data

The Zillows and Trulias of this world (and dozens of smaller Portals) buy this data from us and put it out on their flashy web sites in order to pull you in and sell you some of their “(For Profit”) services.

What they don’t tell you is that our MLS Listings data base is continually updated in real time as agents make additions and changes.

They can choose how often to update their sites and typically do so every 7 to 10 days.

This means you cannot assume that the information they provide is accurate.  

The information you get at MLS Listings.com, or Realtor.com is updated in real time and will always be accurate.

Your choice:

Free on a very well designed web site where the critical data is often out of date.

OR

Free on a less flashy but 100% accurate site.

THE NEXT BUBBLE IS COMING

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Global Real Estate Bubble

Global Real Estate Bubble (Photo credit: Ryan Harvey)

Zillow.com launches!

Zillow.com launches! (Photo credit: Billiard)

Housing forecasters remain optimistic that property values will continue to increase over the next several years and exceed pre-bubble rates by 2017, according to the first-quarter Zillow home price expectations survey.
Based on predictions from 118 economists, real estate experts, and investment and market strategists, these respondents believe home prices will end 2013 up on average 4.2% and rise cumulatively by 22% over the next five years.
Similar to this year, survey respondents anticipate home values will escalate another 4.2% in 2014 before moderating somewhat to annual appreciation rates between 3.6% and 3.8% over the next three years. With an annual 4.1% prediction in housing unit prices expected between 2013 and 2017, this represents the first time the average annual growth rate has surpassed pre-housing bubble (1987-1999) since the Seattle-based analytic firm began its survey three years ago.
The most optimistic of panelists predicted a 6.1% increase in home values this year, while pessimistic economists projected for an average jump of 3%. Furthermore, through 2017, the outlook for cumulative home price change projections ranged from 34.2% among the most positive quartile respondents to 11.7% for the most discouraged housing forecasters.

NOTE: These predictions cannot be used to discuss any specific area.They are for the whole of the Country. In my area, Silicon Valley, these folks are about 2 years behind the times. In other parts of California, mostly inland areas, are only now seeing early signs of recovery.

 

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ZILLOW. MIRAGE or MAGIC?

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Zillow is one of several Web sites which provide a wide range of Real Estate information useful to the general public. For this I salute it. However, to a great extent it has also created an image of being a free souce of accurate information on the value of individual properties.For this I condem it.

If you want a reasonably accurate valuation of your property there will be 50 local real Estate Agents willing to provide a “free” Comparative Market Analysis (CMA)in the hope that if you are selling you will consider hiring them.

If you need a detailed estimate you can pay a profesional Appraiser between $200-$300 for it. In both cases you will get a valuation based on local knowledge of the house, it’s condition, and the circumstances of the comparable sales i.e. Short Sale, Foreclosure, Probate etc.
Now consider whether a computer program having non of this highly relevant data might be able to provide a more accurate result.
I’m a great believer in the old saying that we get what we pay for. Zillow is a perfect example of that.

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