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Price i should payfor an 1,820 sq.ft.home on .7 acres built in the 50's and not remodeled

  • November 08 2012 - Phoenix
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Answers (4)

What is the area where the home is located?  This will play a large factor in the offer price.  
  • November 27 2012
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z-estimates don't seem very accurate to me, personally, as a local Realtor in Southern California.  I also suggest you contact a local Realtor to provide you with a free CMA.

100% of the times for my properties the values have been low (5-10% from what I've seen) and in one case, way too high--but the home was a manufactured home.  I suspect zillow was "guessing" it was a single family residence with the estimate...in that particular case the zillow estimate was over 30% too high.

Best wishes from So-Cal and good luck
  • November 09 2012
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Profile picture for Bill Lindner
Thanks for your thoughtful response.  I agree with your advice.  Not having used Zillow before, I guess I was looking for one of the Zestimates I have heard about to get a ball park idea as to value.

Thanks,

Bill
  • November 09 2012
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You may get an agent from your area on here that can ballpark it for you with some more information, but it will be difficult for them to be accurate.  Typically, to determine a more accurate estimate of value you'll want a real estate agent to do a CMA on the property so they can directly compare it to comparable properties.  In order to do this correctly they'll need to actually see the property to determine just how dated it is, what the overall condition is, what immediate repairs may be needed, what the lot is like, what location it's in, etc.  

It's very hard to accurately estimate value and compare it to other properties without at least seeing pictures of the property and knowing more about its condition.  Your best bet may be to talk to an agent in your area that can do some more research into the property.  Good luck!
  • November 09 2012
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