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Answers (20)
- Linda Strasberg, "L Strasberg"
- Contributions:2316
Make your offer along with a decent EMD along with pre-approval letter and wait for them to counter it! Then decide if you wish to proceed.
- kblitz9
- Contributions:17
Ozzy, you are living in the LAND of Oz clearly. When you come to planet earth, you will realize just how despised and untrustworthy RE agents are. And you're wrong about two things. Number 1, I am smarter than you. You are a realtor after all. Not even a HS diploma needed to do your job. And B, no agent has ever screwed me, I just know what a bunch of deceiving asses you all are. Refer to number 1 if you are confused.
- FriendshipProperties
- Contributions:783
Nothing has to be done. There are plenty of occasions that this happens. (Both too high and too low.) Just make sure the property is priced accurately. The last thing you want is the buyer to be unable to get financing b/c it does not pass the appraisal.
- Ozzy Morenza, "realtorozzy"
- Contributions:35
Hey, Kblitz9, it is obvious you have had some Realtor really screw you up. Look Realtors are people, just like Lawyers, Cops, Judges, Clergy, etc. any walk of life.
My opinion, but I say they are no better or worse, so when you say "real estate agents are the most untrustworthy people to do business with." I think you are either not very bright, or just simply very upset about your previous dealings. I don't think that you are not very brigth, so it is most likely the second item.
Kblitz9, I have had issues with many, many professionals, but every so often I find a great one, I say be specific about complaining on the person or persons that have done you wrong, and don't throw us all into the same bucket because it is unfair, I have a feeling that whatever you do, you probably do it well, simply because you understand what it is to give bad service, because that is the bottom line, service, no matter what field you are in..
- kblitz9
- Contributions:17
Jack, you're a joke. I would never need or want the services of a buyer's broker. Certainly not you. You're a dying breed. People have access to everything you have access to. Smarten up!
- John (Jack) Herman, "Buyer Agent John"
- Contributions:54
How many of you know sceptics know what a true "EBA"...Exclusive Buyer Agent is? It is not so well known.
I mentioned Sheree of Simsbury. She actually works to maximize the buyer's position. The company she works for (our firm), never takes a listing. Sheree is the only EBA in Simsbury who works with buyers in this way.
Listing agents and listings firms cannot be Exclusive Buyer Agents.
EBAs give up the right to take listings IN ALL TRANSACTIONS in order to avoid conflict of interest. It is a very different outlook once you take that position.
You can critique the honesty of agents, but EBAs operate on a different model of business...are you aware of this?
John Herman
[content removed by moderator for being self promotional] Connecticut
- Showcase Twins
- Contributions:69
Zestimates deserve serious consideration, they can be as close to accurate as possible when determining current value. If you choose to do a CMA have a realtor that consistently sells their clients homes for 98% or more of original asking price to determine what asking price they would set.
Interesting, I just cogitated this:
Maybe people love WalMart because they don't have to evaluate a deal? They've got a low-cost gaurantee so they can just zombie around the store and pluck items from the shelves?
What a great strategic marketing approach! Never underestimate the need for the American consumer to not think.
Maybe people love WalMart because they don't have to evaluate a deal? They've got a low-cost gaurantee so they can just zombie around the store and pluck items from the shelves?
What a great strategic marketing approach! Never underestimate the need for the American consumer to not think.
Ha! Ha! Classic....
Hey Mr. Car Salesman tell me what it's worth, I haven't a clue but I'm relying on you.
Maybe refrain from small purchases outside of WalMart as well!
Hey Mr. Car Salesman tell me what it's worth, I haven't a clue but I'm relying on you.
Maybe refrain from small purchases outside of WalMart as well!
- mrfnuts
- Contributions:1386
You know... there are about 1000 questions like this a month... I don't get it.
Do people seriously not even know what houses are worth in the neighborhood they are looking at? Seriously?
Not once have I needed a 'zestimate', a cma, a 'market trend analysis', a professional, or any other trendy sounding so called professional advice, in order to know what a house in a neighborhood is worth.
Bloody hell people, we're talking a multi hundred thousand investment, and you haven't the foggiest idea what to offer other than what a 'zestimate' is telling you?!?!
Might I suggest you refrain from large purchases with borrowed money until a time as you've got a clue.
Do people seriously not even know what houses are worth in the neighborhood they are looking at? Seriously?
Not once have I needed a 'zestimate', a cma, a 'market trend analysis', a professional, or any other trendy sounding so called professional advice, in order to know what a house in a neighborhood is worth.
Bloody hell people, we're talking a multi hundred thousand investment, and you haven't the foggiest idea what to offer other than what a 'zestimate' is telling you?!?!
Might I suggest you refrain from large purchases with borrowed money until a time as you've got a clue.
- Ozzy Morenza, "realtorozzy"
- Contributions:35
don't ignore Zillow, but also don't take it as an appraised value, I think the correct response is, find a Professional that knows the market area, get him or her to do a CMA as mentioned in another previous post, take the zillow info, the CMA info, and you should be able to come up with a price that is closer to being what the home maybe worth. I think in appraisal school they say appraising is an art not a science, not sure of that is true..
- kblitz9
- Contributions:17
Beverly and Robert, you have got to be kidding me. I will speak for this country when i say this...real estate agents are the most untrustworthy people to do business with. I have yet to meet an honest one, and i KNOW i'm not alone. So we will do whatever it takes to get HONEST information without paying you for it - which may or may not be truthful anyway! And this is why i LIKE Zillow!
- beverly meaux, "Agents Clients Refer"
- Contributions:223
This is when I don't like Zillow, I must say. Zillow shouldn't be looked upon as the de facto in pricing. You can read countless discussions where people argue over how their house is not represented correctly, the info is wrong, the actual house reflected is wrong. Take Zillow for the good it does: providing an open discussion on real estate. Turn to local experts OR to a combination of other sites - like use Zillow Sold info for a reference, if you have to use Zillow - to determine price. From your question I'm not sure if you're trying to determine a price to list your property or a price to set for an offer on the property. Either way, be careful using Zillow for this. Now, I said local experts, and I know a lot of people on Zillow have other words for real estate agents. But there are some darn good ones out there; smart ones and reliable ones. Find one of those in your area and you will be well taken care of.
- kblitz9
- Contributions:17
Does anyone in NYC area do a CMA on A home? Without signing with them, etc?
- John (Jack) Herman, "Buyer Agent John"
- Contributions:54
Zestimate is average for the area, it is often mistaken as an appraisal...it is not. It is an average for the area, not an evaluation of the specific house. I say that having been formerly been an appraiser fo 15 years.
Sheree Landerman (of our firm) lives in Simsbury. 860-674-0345 x2. She is the expert. She has been and Exclusive Buyer Agent for 10 years, but prior to that she had a traditional office in Simsbury of 29 agents. She is easy to talk to.
John Herman
TheBuyersRepresentative.com
Exclusive Buyer Agents of Connecticut
Sheree Landerman (of our firm) lives in Simsbury. 860-674-0345 x2. She is the expert. She has been and Exclusive Buyer Agent for 10 years, but prior to that she had a traditional office in Simsbury of 29 agents. She is easy to talk to.
John Herman
TheBuyersRepresentative.com
Exclusive Buyer Agents of Connecticut
- girouard property RE
- Contributions:981
Offer what you feel is the best for you, not the agent or the seller.
- Nicole Borsey, "Nicole Borsey"
- Contributions:240
You agent will assist you in determining actual market price for the home...zestimates are based on public tax assesor info, it has no way of knowing the specifics about the home, neighborhood, condition, etc. This is why working with a licensed agent is crucial, he or she can determine the best negotiation plan. Some areas are not affected as much as others....so a HUMAN needs to figure this out. :) Zestimates are OK, but they can vary..sometimes they are dead on, sometimes they are not....
- space_acer
- Contributions:4311
Depending on your location... You may well ignore all information,
regarding current prices, zestimates, or CMA (Comps).
Prices for the past few year and in some cases past 10 years have been inflated. Its a BUBBLE. For best pricing anaysis, you need to analyze on your own what homes were selling before the bubble in your region, began than add inflation. Therefore look back using zillow price history and add 30% to get to your figure. Over the long run, prices only go up at rate of inflation. As you can see prices do fall 50% and more to get back to the long term trend.
http://www.housingbubblebust.com/OFHEO/Major/NorCal.html
regarding current prices, zestimates, or CMA (Comps).
Prices for the past few year and in some cases past 10 years have been inflated. Its a BUBBLE. For best pricing anaysis, you need to analyze on your own what homes were selling before the bubble in your region, began than add inflation. Therefore look back using zillow price history and add 30% to get to your figure. Over the long run, prices only go up at rate of inflation. As you can see prices do fall 50% and more to get back to the long term trend.
http://www.housingbubblebust.com/OFHEO/Major/NorCal.html
- James Foy, "perfectfitz"
- Contributions:16
Get a CMA (comparative market analysis) from a local agent. They tend to have more up to date information than any of the real estate websites.
- LobeliaChic
- Contributions:32
Ignore it and use local information, realtors and sales comps to see if the listing is too high. Zillow isn't useful as a negotiating tool for buying.
What should be done when the asking price is significantly higher than the Zillow highest estimate?
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