What Is Your Zestimate?

September 24, 2019September 24, 2019Leave a comment

If you’re a fan of Zillow.com then you are familiar with the “Zestimate” value of your house. Of course, it is an “estimate of value” but because it is generated by Zillow they have added the “Z” to make it proprietary. Recently a buyer asked why a Zestimate was so much lower than the asking price for a house. Good question. Let’s discuss.

Have you checked your house on Zillow lately? If you have, then you may be wondering how Zillow came up with that value. As a real estate agent and as a member of the National Assocation of Realtors, Vermont Association of Realtors, and the Northwestern Vermont Board of Realtors, I have access to many estimating programs that use data differently than Zillow. In addition, I have access to hyper-local real estate information that is reported monthly.

If you are looking for a true “range of value” for your house, then I need to visit. There are many factors involved in pricing a property and the online resources give us a guide, but do not use data points that are crucial in our local area.

Back to the original question, “Why is the Zestimate so much lower than the asking price of the house?” The answer is, “Because Zillow has never been to the house, has never seen the house, and, relies on data that may or may not be accurate.”

For more information on your house, and, to see if your value has truly increased or decreased, get in touch with us.

Are You Looking For a Unicorn? Download Our KW APP to Find Your Dream House!

June 18, 2019Leave a comment

Frustrated with your home search? Can’t find what you are looking for? Maybe your dream house doesn’t exist, can’t be built, or will never “pop up” on your Zillow alerts. Depressing, right? How did this happen? Why can’t you find the perfect house?

First, it’s not your fault. Perhaps you met with an enthusiastic real estate agent who promised you that, yes, indeed, your dream house is right around the corner and will hit the market soon. Or, you binge watched HGTV and want to find something similar to a house that Joanna Gaines renovated on Fixer Upper. In either case, you can’t find your dream house. Let’s regroup.

Does your perfect house exist? It’s easy to figure this out. Houses are everywhere. Get in your car, drive around and find your ideal house in your preferred location. Open your KW APP ( Download Here ) and see if there is anything available for sale in the area. If you see something in the area, then send it to me and I will let you know if I can make your dream house a reality!

Why You Won’t Find Your Dream Home on the Internet

January 21, 2019Leave a comment

The home you are looking for may never show up on a public website like Realtor.com, Zillow.com, or your favorite real estate site. Over the last several years the public has increasingly become annoyed with searching for houses online. To really “find” your dream home you may need to “phone a friend.”

When I meet with buyers for the first time it is usually because they are tired of searching online. Tired of hearing a “ping” on their phone notifying them that a new house was just listed. Weary, because none of the houses seem to be just right for their needs. “Where are the good houses?” they ask me. By good houses they mean the floor plan, location, and condition that they “know” is out there, somewhere. Isn’t it?

Well, yes, their dream home exists. It is just never available, at least that’s what they are learning after contacting multiple agents online. For example, a house may appear to be available and for sale when, in fact, it may be under contract and not available. In other cases, consumers believe they are contacting the listing agent, when, in fact, their request for more information is sent to several different agents, none of whom represent the seller. The public is confused. Who are they calling? Who is showing me the house? Do I need Buyer representation? How does this work?

What is the answer to this morass? First, to untangle the “mess” of having several agents call and email for days, weeks, and months, it’s best not to click on any links that say “Ask a Question.” Instead, use the “phone a friend” approach. Call one of your friends, ask who they have worked with as a trusted real estate professional. Better yet, if you have a real estate agent as a friend, give that professional a call. Let your real estate contact know your house “wishes.”

Many times, because real estate agents are consistently meeting with buyers and sellers, we have inside information on houses that may be for sale soon. So, reach out, phone a friend, and log off the internet. Your dream house is right around the corner.

Who Finds the House, Anyway?

May 16, 2017Leave a comment

P: Realtor.com

When I first meet with buyers they ask, “Why do I need a real estate agent if I find the house?” They also show me the various apps they are using to search – Realtor.com, Zillow, etc. This is a good question, and one that many in the industry ponder. You enter your criteria on these websites, wait all day for your phone to ping, ring, or buzz, and then you contact your agent for a showing. Sounds easy, right?

After about three of these pop up showings, buyers tend to get discouraged. “But it looked so much better in photos,” and “I didn’t know that the neighbor had pit bulls until we drove up to the house,” are just some of the disappointments that befall the buyer.

P: libn.com

And, to add to more stress and discouragement, some houses that pop up on your phone are not actually available to see as they may already be under contract with another, more fortunate buyer. Or, so the buyers think.

These scenarios occur when a buyer is “chasing the market.” You need to get ahead of the market by working with an experienced, professional real estate agent that knows the local market inside and out.

In fact, the house you are looking for is most likely going to be brought to your attention by your agent.

Since real estate expertise is something accumulated over years of going in and out of houses, townhouses, condos, and neighborhoods on a daily basis, it’s safe to say that an experienced agent will be able to find you a house that meets your needs.

Once I know what you are looking for, I can “edit” the list of potential homes and hone in quickly on prime candidates. After we see a few houses together I will be able to figure out what will be ideal. What does that mean to you? It means you can relax. Don’t jump every time Zillow sends a notification. While it may meet your Zillow criteria, it may not meet your other wants and needs.

I only take on a few buyers at a time to give exceptional service and “house finding” expertise. Is the perfect house on the internet? Maybe, but an experienced agent will keep you “ahead” of the market, which is preferable to “chasing” the houses.

What is the Best Website or App for Finding a House?

February 21, 2017February 21, 2017Leave a comment

P: Realtor.com

Over the past several years the internet has opened up the “wide world of real estate” to buyers and sellers. Realtor.com and Zillow have been advertising heavily to promote the use of their websites and mobile apps for your home search. If you have been searching for a house for a while, you are probably asking, “Isn’t there anything else?” While each of these consumer sites has its pros and cons, the best source for up-to-date local real estate information continues to be your favorite real estate agent.

It’s happened to most all home buyers. After months of sitting on a couch perusing houses, photos, and prices you will have to email or call a real estate agent to see a house that you think may work. You finally take that next, bold step only to hear, “oh, sorry, that house is no longer available.” Or, “yes, that is a good price, all of the pipes have been stripped out and it needs to be a ‘cash only’ transaction.” Sigh, this is harder than you thought.

P: Zillow

After several weeks of clicking on the “preferred” agent for an online property and fielding many call backs, you are frustrated. It’s not as easy as it looks on the Realtor.com or Zillow television commercial. First, some of the houses are no longer available for sale. Second, some houses have incorrect information. Third, some houses are ‘for sale by owners’ and what if you want to use a real estate agent? What is missing here? Do you feel like you are chasing the Holy Grail?

At this point in your search it is best to cut your losses, bite the bullet and make a call to find a professional, experienced real estate professional to help with your search. But why, oh why? Can’t you just continue to look on your own unhampered by another human? Yes, you can go it alone but you will continue to be frustrated. Best thing to do is ask your friends, relatives, and/or colleagues for a referral to a local, trusted real estate agent.

The benefit to you, the consumer, is that once you have decided to reach out to a professional, you are in good hands. In the real estate world at KW Vermont, Keller Williams Realty, our culture of sharing and helping one another succeed results in a cooperative environment that may result in a quicker, smoother process. Some houses are not yet out in the “wide world of real estate” for various buyer or seller reasons. We work with buyers and sellers every day and network to find houses, sell houses and get our clients “out in front” of the market.

So, stop chasing houses. Get in “front” of the market. Ditch your app for a human.

The Weaver Team

Your guide to VT Real Estate | Home Staging | Decor | DIY | General Awesomeness

Tag: online home search