Palos Verdes Lifestyle - Norma Toering 310-493-8333

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Zillow Values - We Love Them and We Hate Them

At Charlemagne Int'l Properties we have a love-hate relationship with Zillow.  We think it is wonderful homeowners can go to the site, type in their home address, and presto, they have the value of their property.  Or do they?

We recently had a seller contact us, and he was in a jubilant mood due to Zillow's estimated value of his home.  He was ready to list it for sale until we gave him the real scoop on its value in today's market.  Zillow's price was about 25% above actual value.

Zillow sometimes hits the value on the nose, other times they miss it by a mile.  You'll never know the true price until you have a local expert view the home.  You see, Zillow has never stepped inside your home.  Zillow does not know if you have a bigger and better view than homes recently sold in your area.  Zillow doesn't know if your kitchen is cutting edge modern or campy 1950's style.

Zillow's efforts are to be admired, but it takes local expertise, geographic familiarity, and on-site eyes to pinpoint real estate values.

Norma Toering, Broker at Charlemagne Properties
310-493-9333

Sell Smart, Buy Wise and Live Well

Norma Toering - Real Estate BrokerNorma Toering & Team
Broker-Owner - Charlemagne International Properties
310.493.8333 - Email Norma

 

 

 

 

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PalosVerdesLifestyle - Norma's award winning site as the best Palos Verdes homes and real estate blog since 2007.

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Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Comments

Great Post, Zillow has changed a lot of things, Not all of it is good. The bad is bad , I hate to hear the dreaded words. I looked on ZIllow and my home should be priced at .........

Posted by Randy Bocook, Selling Coastal Georgia (Keller Williams Coastal Area Partners) over 2 years ago

Ugggg dont get me started on ZIllow LOL...enjoy your holiday weekend!

Posted by Kristin Johnston - REALTOR®, Giving Back With Each Home Sold! (RE/MAX Realty Center ) over 2 years ago

Norma

Ah yes, Zillow says my home is worth X so let's list it. Hopefully your seller listened to the facts and not a guess.  Sellers love Z when it says their home is worth more than they think, but what about when Z is low?

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) over 2 years ago

Norma,

I like your post.  You are very even handed here.  However, accuracy is important.  Have a great weekend. A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) over 2 years ago

Norma,  I am not one to give Zillow any credit for anything. The site deceived consumers. That is never a good thing. Ever. 

Posted by Kathleen Daniels, San Jose Homes for Sale-Probate & Trust Specialist (KD Realty - 408.972.1822) over 2 years ago

Norma Toering Broker for Palos Verdes and Beach Cities - When it comes to the value of your home, no matter what the instant estimates tells you, home owners always need to talk to a local real estate agent to really find out their true current market value for all of the reasons you've pointed out. Great post!

Posted by Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com, Tahoe Real Estate Agent Helping Buyers and Sellers (Coldwell Banker, Tahoe City, CA (530) 414-1260) over 2 years ago

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