Posted by: Catherine | April 10, 2010

Reminder of importance of getting qualified advice from a REALTOR

Just wanted to throw out this little reminder that sites like “zillow” aren’t always 100% accurate 🙂  In fact, they do offer some fun insight for a client, ability to see nearby closed sales and some comps for review, BUT, it should not be used to price your home for sale.  It is rare I see a home sold for what the “zestimate” is, though I’m sure it has happened. Case in point. Client calls and says he feels he needs to do a short sale on his home in a popular nearby area.  He says he’s sure it’s worth less than 800k because that is what Zillow says.  So I run the comps and from what I can see, he wouldn’t be a short sale at all as I believe the value to be closer to the 900k range!

So I look just for the “heck of it” and I see a home with a zestimate of 797k, and guess what? It is pending sale.  Pending in ONLY 3 days for $900k.  If it went pending so quickly, my guess is they got near or more than what they were asking. 

It is important to know the activity in your area, as supply and demand, decrease of inventory, and your targetted buyers in your area are vital pieces to the pricing puzzle. Zillow can’t know these nuances.

So, get an experienced opinion of value from someone who can pull more than just stats and numbers.  But can provide insight as to the activity in your area.  These particular areas I researched today (small radius of Windemere), since January 1, has had only 4 homes sold, 11 are pending with an average of only 10 days on the market, and only 2 are active with average DOM of only 6.  That tells us this is a briskly moving market, don’t be left behind.

San Ramon homes for sale: 

8224 Saturn Park Drive, San Ramon (Gale Ranch) Listed at $699,000 – offers being accepted now
3608 Stonehenge Way, San Ramon (Windemere) Listed at $949,000 – pending in just days
(psst, zestimate on this is $880k)

Catherine Myers
Broker Associate DRE Lic 01337828
Windermere Bay Area Properties
Walnut Creek, Clayton, Concord, Pleasant Hill, Martinez, California
Search homes for sale and get community information for Contra Costa including Walnut Creek, Concord, Clayton, Pleasant Hill, Martinez, San Ramon, Danville and surrounding areas.  Get short sale information, foreclosure avoidance resources and more.

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