Zillow Zestimates Are Usually Not Accurate

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For years we had people tell us that Zillow estimates, made their home be worth this or that. The problem with the estimates that Zillow gives, is that they do not take into consideration many things that a Realtor would know to take into consideration when giving an estimate of value.

  • Is the home a foreclosure?
  • What is the condition of the home?
  • What are the upgrades of the property?
  • Does the home back to a main road?
  • Does the home have a huge lot?
  • Is that floor plan typically more desirable than another in the same community?
  • What kind of views does the property have? Does it have a lake or a garden view? By the beach area, a condo on the 15th floor will not sell or rent for the same price as one on the 2nd floor. Does the property have an ocean view or an Intracoastal view, or both? They are stacks of a building that have better views than others.
  • Is the property rental price for an annual rental or a seasonal rental? The same property can rent annually for just $6,000 per month, but when it comes to a short term rental during season, the same property can go for $12,000 per month.

So, next time you want an accurate estimate of value, please, contact us! We will tell you what your home is worth based on accurate data and your property specific characteristics.

Thinking of selling?

We know that it is easier to get a listing when you tell the seller what he/she wants to hear. Many agents tell prospective sellers a sales price that is not that realistic so that the property owner is more willing to list with them than with another real estate agent interviewing for the same listing. As nice as it sounds to hear that you can get a higher price for your home, not listening to the agents that are being more honest & giving you a more realistic selling price based on the price of actual sold properties, will probably not do you any good. Your property will sit for months on the market without selling, while you help other comparable properties sell. Buyers in this market are very knowledgeable and computer savvy. Many overpriced homes will never sell, they become expireds. It has been proven, that if you price your property right from the beginning, you will sell it faster, and in many cases, even for more money than you would have gotten if you overprice your home. A property that has been on the market for so long makes buyers think that there is something wrong with it, or they will think that the owner is just not realistic, so they will pass and not even bother. As a seller, you might know that you will be flexible & negotiable once you get an offer, but all those buyers and agents out there do not know that. So, do you want to list with an honest agent that told you the truth from the beginning, or the one that did not?

If you want two honest, full time Realtors, with 20+ years of experience to represent you when selling your property in Palm Beach or Broward County, please, contact Ben & Mayra Stern with Stern Realty Co at 561-715-0314.

      

 

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