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What has happened to the Zestimates for the Third Ward? Since October values have fallen!

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February 16 2010 - Historic Third Ward
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Answers (2)

The best way to get an idea of the value of your home is to contact a qualified local Real Estate Agent and have them work up a CMA, Comprehensive Market Analysis for you.  This will generate a report from the local MLS showing similar homes in your immediate area.  This report will include both Active units and Sold units with the actual sale price.  All printed out for you in color.  at least this is what I provide for my clients in the Milwaukee and Waukesha county areas.  I can e-mail you one in a day or so.
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February 16 2010
Every place in the country I have looked at shows a downward trend in the zestimate.  I think that results from a normal cycle - most buyers stop looking when the weather gets bad and the holidays happen.  This forces sellers who have to sell to lower their prices.  This year, that normal phenomenon is exacerbated by the high number of short sales and foreclosures.  When selling prices drop, the zestimate drops too.

In a normal year, beginning about mid-March (or as the weather improves), buyers tend to return and both the number of sales and the selling prices begin to rise.  Given the economic situation, I for one plan to monitor a lot of locations very closely in the next two months.  The expectation is for the trend to reverse and zestimates to begin rising.  It will tell a lot about what is happening - whether or not the expected trend happens.
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February 16 2010
 
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What has happened to the Zestimates for the Third Ward? Since October values have fallen!
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February 16 2010 | 2 answers
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