Are you using Zillow Zestimate to buy or sell a house, don’t.

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Are you using Zillow Zestimate to buy or sell a house, don’t.

 

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Don’t make any real estate decisions using Zillow’s Zestimate

As a realtor Zestimates drive me crazy. Everyone thinks they are a real estate expert and are in the know because they use Zestimate’s real estate values.

Over the years I continually had to address why they are usually wrong for buying or selling a property. I know I’m not believed. Even when the fine print from Zillow says the percent of accuracy can be way off.  And it can change drastically daily.

Well finally lawsuits have been filed against Zillow and the company just started a contest asking for people and companies to help them to get more accurate estimates.

Maybe this word will get out and people will turn to their realtors for true values.

Here’s a couple recent articles that might be of interest.

Zillow Launches $1 Million Zestimate Competition

Zillow recently launched Zillow Prize, a $1 million award to the first person or team who can most improve the company’s Zestimate algorithm

Can You Trust Zillow’s Home Price Zestimate? In a Word: NoClick here to read this article.​

Laguna Housing Market

$2.3M – Median Listing Price

$975 – Price per Square Foot

$1.9M – Median Closing Price

Laguna Micro Communities Information – click on the community for more info

Area For Sale For Rent Median
Listing Price
North Laguna 33 66 $2,698,000
The Village 42 50 $2,694,000
Emerald Bay 20 16 $8,698,000
Woods Cove 16 27 $1,798,000
Main Beach 13 17 $2,060,000
Laguna Terrace Mobile Park 5 1 $138,000
Arch Beach Heights 12 8 $1,348,000
South Laguna Bluffs 9 17 $4,372,000
Temple Hills 14 7 $3,888,000
Irvine Cove 3 2 $8,494,000
Three Arch Bay 16 10 $4,748,000
South Laguna Village 11 13 $1,328,000
Laguna Canyon 14 2 $3,998,000
Top of the World 14 1 $1,774,000
Montage 7 7 $11,272,000

OC Coastal cities market information – Click on the city for detailed info

Area

For Sale

For Rent

Median
Listing Price

San Clemente

390

139

$1,078,000

Laguna Niguel

308

121

$978,000

Laguna Beach

343

296

$2,398,000

San Juan Capistrano

226

18

$1,148,000

Newport Beach

488

202

$2,194,000

Huntington Beach

497

173

$798,000

Mission Viejo

842

138

$708,000

Laguna Hills

144

20

$938,000

Irvine

878

486

$916,000

San Diego

2,065

1,294

$598,000

Newport Coast

130

52

$3,764,000

Aliso Viejo

292

87

$566,000

Orange County Housing Report:  Applying the Brakes

As housing transitions into the Summer Market, there are more for Sale signs while demand softens.

The Summer Shift: The annual tradition is no different in 2017, housing is shifting from the Spring Market to the Summer Market.
Active Inventory: The active inventory increased by 4% in the past couple of weeks.

Last year at this time, there were 6,267 homes on the market, 11% more than today.

Demand:  Demand dropped by 3% in the past couple of weeks.
Luxury End:
 Luxury demand dropped by 7% in the past couple of weeks while the inventory grew by 4%.

Click here to read the whole OC market report

Local and seller/buyer articles

Orange County condo prices hit all-time high as buyers are priced out of house market – Orange County Register

$84,000 a year now qualifies as low income in high-cost Orange County – Orange County Register

Low housing supply pushing rents higher – Orange County Register

How to Sell a House: 4 New Rules That Can Make or Break a Sale | realtor.com®

Think Your Credit Score Is Too Low To Buy A House? Maybe Not – Realty Times

Income needed to afford an Orange County house now at $154,120 a year – Orange County Register Own a home or renting? 5 questions about what Trump’s tax plan could mean to you – Orange County Register

I’m proud to announce that I’m now partnering with Frank Hufnagel, the top agent at Surterre Laguna, so that I might provide a wider spectrum of services like major advertising in local periodicals. We complement each in many ways and I’m pumped to move forward with a friend and top real estate professional.

www.welcometothedream.com

https://www.facebook.com/woodscovelagunabeach

https://www.facebook.com/VictoriaBeachLagunaBeach

https://www.facebook.com/welcometothedream

‘Free and non-committal property valuation on your home or on property you’re thinking of buying.’

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About Author

Sean McCracken

As the OC Realtor I’ll help you find your special OC Coastal home at that special price. With my hand holding, I’ll take you through the buying process for the minimal amount of pain - Call Me @ 949-290-5317

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