))
Why You Should Never Trust a Zestimate
Manage episode 170418464 series 1320077
Вміст надано Steven Rosado. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Steven Rosado або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.
If you’re a serious buyer or seller, you should never trust a Zestimate. Here’s why.
Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale
Today I want to tell why you should never trust a Zestimate.
To clarify, Zestimates can be helpful to people who are dabbling in real estate, but if you’re serious about buying or selling a home, it can be very misleading and cause you to leave a lot of money on the table. I’ve seen this happen many times, and here are three recent examples that I’ve been involved with.
The first involves a home we recently sold at 49 Chestnut Street in Weehawken. The Zestimate for this home was $700,353. If we listed it at that price, the property would’ve been on the market for years because it wasn’t worth anywhere near that amount. Instead, we listed the property at $410,000, and in less than 10 days, we had three offers and eventually sold it for $425,000.
The second example involves a buyer I’m working with to close on a home on Lydia Drive in Guttenberg whose Zestimate is $632,407 but got listed at $609,000. We haven’t closed yet, but my buyer has negotiated the price down to $590,000, and you can be sure he’s happy the owner didn’t go off the Zestimate value because that may have led him to believe that $609,000 wasn’t a bad list price.
Trusting a Zestimate can cost you a lot of money in a transaction.
The third example involves a single-family home in Hoboken that we recently helped sell. The Zestimate for it was $1.433 million, but we listed it at $1.525 million, received multiple offers, and sold it in less than 10 days.
As you can see, these are huge swings in prices. The reason for this is that a Zestimate is a tool that’s based solely off an algorithm. In calculating the value of a single home, it takes into account the values of the surrounding homes but not much else. Crucial details like an upgraded kitchen or bathroom get left out of a Zestimate.
If you’re serious about buying a home or getting an accurate value of a home you plan to sell, please feel free to reach out to me. I’d be happy to help!
12 епізодів
Поширити
