The House Searching / Buying/ Building Thread

Current house under contract in 7 days so closing has been moved up to Feb 18th from March 26th. While this is awesome I now have three weeks to get ready to move, this should be fun!
 
I hear you. Sold mine Monday and closing is the 26th of February. Now scrambling to get into a new place
This is fantastic news. Finally get to move on and get on with your life. I'm extremely happy for you
 
Very interesting article in the LA Times regarding Zillow Estimates and their "accuracy".
http://www.latimes.com/business/realestate/la-fi-harney-20150208-story.html



"nationwide Zestimates have a "median error rate" of about 8%."

"
in New York County — Manhattan — the median valuation error rate is 19.9%. In Brooklyn, it's 12.9%. In Somerset County, Md., the rate is an astounding 42%. In some rural counties in California, error rates range as high as 26%. In San Francisco it's 11.6%. With a median home value of $1,000,800 in San Francisco, according to Zillow estimates as of December, a median error rate at this level translates into a price disparity of $116,093."
 
Not surprised. The "Zestimate" is way off around here as well.
 
Very interesting article in the LA Times regarding Zillow Estimates and their "accuracy".
http://www.latimes.com/business/realestate/la-fi-harney-20150208-story.html



"nationwide Zestimates have a "median error rate" of about 8%."

"
in New York County — Manhattan — the median valuation error rate is 19.9%. In Brooklyn, it's 12.9%. In Somerset County, Md., the rate is an astounding 42%. In some rural counties in California, error rates range as high as 26%. In San Francisco it's 11.6%. With a median home value of $1,000,800 in San Francisco, according to Zillow estimates as of December, a median error rate at this level translates into a price disparity of $116,093."
Generally speaking they are a joke. If you live in a large community of similar style newer homes with no real variation it will probably be close, but other than that it is possibly very wrong.
 
Zillow estimates are garbage, much like the site in general. Inaccurate information more often than not, and estimates that are usually way off base. In a cookie cutter neighborhood, zillow can be somewhat close. If you're on the water however, not so much. We've seen it be as much as 20-25% off on homes with premium locations like that.

If you want a free estimate of your home, ask a local realtor. It's free and takes so little time for us to do. Don't use Zillow unless you just really want to irritate yourself (and me included. Zillow irritates me a lot)
 
Hahaha yes, Wake backing it up like a champ!
 
Zillow estimates are garbage, much like the site in general. Inaccurate information more often than not, and estimates that are usually way off base. In a cookie cutter neighborhood, zillow can be somewhat close. If you're on the water however, not so much. We've seen it be as much as 20-25% off on homes with premium locations like that.

If you want a free estimate of your home, ask a local realtor. It's free and takes so little time for us to do. Don't use Zillow unless you just really want to irritate yourself (and me included. Zillow irritates me a lot)

My favorite thing about Zillow is that I've looked at the "Zestimate" for two units for sale in the same condo complex, at the same square footage/layout/amenities, and they come in nowhere near each other. You'd think that's where it would at least be somewhat accurate.
 
Good to know re Zillow.
The estimate on mine was always low, I thought. Established neighborhood, mostly the same Sq. Ft., but like mine is at least an extra 500 and one of the only big two stories. Reading this is kind of a big WHEW
 
Generally speaking they are a joke. If you live in a large community of similar style newer homes with no real variation it will probably be close, but other than that it is possibly very wrong.

Zillow estimates are garbage, much like the site in general. Inaccurate information more often than not, and estimates that are usually way off base. In a cookie cutter neighborhood, zillow can be somewhat close. If you're on the water however, not so much. We've seen it be as much as 20-25% off on homes with premium locations like that.

If you want a free estimate of your home, ask a local realtor. It's free and takes so little time for us to do. Don't use Zillow unless you just really want to irritate yourself (and me included. Zillow irritates me a lot)


Being Realtor's, how often though do buyers or sellers reference this number when deciding an offer or sale price. But Zillow said.....
 
Being Realtor's, how often though do buyers or sellers reference this number when deciding an offer or sale price. But Zillow said.....
People try to bring it up all the time.

The worst was a lady in tears when I told her her house was worth less than 200k, when zillow told her 310. It was pretty painful.
 
Hahaha yes, Wake backing it up like a champ!
We clearly can't agree on this, I think Zestimates are a joke, while you believe they are garbage.
 
Being Realtor's, how often though do buyers or sellers reference this number when deciding an offer or sale price. But Zillow said.....

A lot. Buyers will email us about properties they found on Zillow to see, and naturally they sold a while ago since Zillow doesn't update their MLS feed anywhere near as often as sites like Realtor.com (the one we recommend the most). As far as their values, it's pretty easy to show them with our MLS what actual sales numbers were. If they say, "but Zillow..!" it's quick to halt that with, "Do appraisers use Zillow for their appraisals? Or the MLS?"
 
A lot. Buyers will email us about properties they found on Zillow to see, and naturally they sold a while ago since Zillow doesn't update their MLS feed anywhere near as often as sites like Realtor.com (the one we recommend the most). As far as their values, it's pretty easy to show them with our MLS what actual sales numbers were. If they say, "but Zillow..!" it's quick to halt that with, "Do appraisers use Zillow for their appraisals? Or the MLS?"

My only reservation with Realtor.com is that they make you register to even look at the details of a property. I've always just gone to another site because I'm afraid I'll start getting cold calls from some realtor on that site. Am I wrong to be concerned about that?
 
A lot. Buyers will email us about properties they found on Zillow to see, and naturally they sold a while ago since Zillow doesn't update their MLS feed anywhere near as often as sites like Realtor.com (the one we recommend the most). As far as their values, it's pretty easy to show them with our MLS what actual sales numbers were. If they say, "but Zillow..!" it's quick to halt that with, "Do appraisers use Zillow for their appraisals? Or the MLS?"

I hope to God they don't use Zillow for our house when we go to sell. I much prefer the number our realtor came up with. That said, I'm expecting some lowball offers because of the Zillow number.
 
My only reservation with Realtor.com is that they make you register to even look at the details of a property. I've always just gone to another site because I'm afraid I'll start getting cold calls from some realtor on that site. Am I wrong to be concerned about that?

Nah, you can register and be fine. If you ask for more information about a property, then yes we're going to call you or email you to answer any questions
 
About to have my first experience with Real Estate agents over here as we look to sell up and relocate to the SF East Bay Area. Hoping they aren't complete sheisters like the majority of em back in the UK.
 
Closing on the new house on Wednesday then moving on Friday. Then we're closing on the old house the following Thursday. I'm so ready to be done with this. The people buying our existing home have a horrible agent, that hired a horrible inspector, and they're first time home buyers so they want a bunch of nit pick stuff fixed. It's really making me hate our current home :banghead:
 
Closing on the new house on Wednesday then moving on Friday. Then we're closing on the old house the following Thursday. I'm so ready to be done with this. The people buying our existing home have a horrible agent, that hired a horrible inspector, and they're first time home buyers so they want a bunch of nit pick stuff fixed. It's really making me hate our current home :banghead:


I got very lucky, my agent is a good friend and she had some people she had been working with over the last couple of years who bought my house. They just want in and did not want an inspection, not that there is anything to fix. I have work on this house the last year getting it ready to sell so they are moving into almost a new home from two new ac's to new roof and appliances and more. The appraiser is coming this morning which should be fine and I expect to close on the 26th. My lender for my new place is trying to have my closing on the 26th also after I close on this one so I won't be homeless:D
 
Today could prove to be significantly life changing for the wife and me. I'm revisiting a home and community that just seems right, and expect to make an offer that will begin the process of relocating. I'm almost as nervous as on a THP event sign up day!
 
Awesome Ken, best of luck and looking forward to seeing how it goes!
 
Good luck vman
 
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