Ever wonder how accurate those Zillow Zestimates really are? Below you will find real homes sold in Superior last month compared to their Zillow Zestimates. Scroll down to the bottom of the post for more information on the accuracy of Zillow Zestimates.
April 2016 Superior Zillow Zestimates vs. Sold Prices
Single Family Homes
Condos and Townhomes
Are Zestimates accurate?
Zillow is the most popular online real estate information site, with over 70 million unique visitors per month. Zillow provides information on houses that are not on the market as well as active listings of properties for sale.
According to Zillow CEO Spencer Rascoff, Zillow Zestimates are “a good starting point” but nationwide Zestimates have a “median error rate” of about +/- 8%. On a $500,000 house, a seller is looking at a $40,000 disparity — which can potentially distort the perceived market value of a listing.
So what’s the takeaway? When buying and selling, keep in mind that Zestimates are no more than starting points in pricing discussions with the real authorities on local real estate values — experienced agents and appraisers.
If you’re curious about the current value of your home, I can provide you with a comparative market analysis at no cost or obligation. Call Barry Remington at 720.373.9297 or reach me by email email@example.com.
Source: LA Times article “Inaccurate Zillow ‘Zestimates’ a source of conflict over home prices”
The Spring market is very busy, inventory of homes for sale is low, and interest rates are very attractive. If you’re considering selling, have any other real estate needs or know someone who does, please give me a call at 720.373.9297. I can help determine the value of your home or help with any of your real estate questions.
Scroll down for detailed April market reports including sold listings, average days on market and current homes for sale in Superior.
Market Activity in Superior in April 2016
Click here to see the homes for sale Superior, CO
Click here for a comparison of Superior Zillow Zestimates vs. Sold Prices as well as information on the accuracy of Zillow Zestimates.
If you’re curious about the current value of your home, I can provide you with a comparative market analysis at no cost or obligation. Call me at 720-373-9297 or reach me by email at firstname.lastname@example.org.
A study by Edelman Berland reveals that 33% of homeowners who are contemplating selling their house in the near future are planning to scale down. Let’s look at a few reasons why this might make sense for many homeowners, as the majority of the country is currently experiencing a seller’s market.
In a recent blog, Dave Ramsey, the financial guru, highlighted the advantages of selling your current house and downsizing into a smaller home that better serves your current needs. Ramsey explains three potential financial advantages to downsizing:
#1: A smaller home means less space, but it also means less time, stress and money spent on upkeep.
#2: Let’s assume you save $500 a month on your mortgage payment. In 30 years, you could have an additional $1–1.6 million in the bank to get you through your golden years.
#3: Use the proceeds from selling your current home to pay cash for a smaller one. Just imagine what you could do with no mortgage holding you down! If you can’t pay cash, aim for a 15-year fixed rate mortgage and put at least 10–20% down on your new home. Apply the $500 you saved from downsizing to your new monthly payment. At 3% interest, you could pay off a $200,000 mortgage in less than 10.5 years, saving almost $16,000 in the process.
Realtor.com also addressed downsizing in a recent article. They suggest that you ask yourself some questions before deciding if downsizing is right for you and your family. Here are two of their questions followed by their answers (in italics) and some additional information that could help.
Q: What kind of lifestyle do I want after I downsize?
A: “For some folks, it’s a matter of living a simpler life focused on family. Some might want to cross off travel destinations on their bucket lists. Some might want a low-maintenance community with high-end upgrades and social events. Decide what you want to achieve from your move first, and you’ll be able to better narrow down your housing options.”
Comments: Many homeowners are taking the profit from the sale of their current home and splitting it in order to put down payments on a smaller home in their current location, as well as a vacation/retirement home where they plan to live when they retire.
This allows them to lock in the home price and mortgage interest rate at today’s values. This makes sense financially as both home prices and interest rates are projected to rise.
Q: Have I built up enough equity in my current home to make a profit?
A: “For most homeowners, the answer is yes. This is if they’ve held on to their properties long enough to have positive equity that will be sizable enough to put a large down payment on their next home.”
Comments: A study by Fannie Mae revealed that only 37% of Americans believe that they have significant equity (> 20%) in their current home. In actuality, CoreLogic’slatest Equity Report revealed that 72.6% have greater than 20% equity. That equity could enable you to build the life you’ve always dreamt about.
If you are debating downsizing your home and want to evaluate the options you currently have, meet with a real estate professional in your area who can help guide you through the process. There are a ton of great options for low maintenance living across the Front Range. If you have questions or are curious about the value of your home, I am happy to help! You can reach me at 720.373.9297 or by email at email@example.com.
Original article by KeepingCurrentMatters.com