Home Buying in Tierra Verde>Question Details

Rld, Other/Just Looking in Saint Pete Beach, FL

Zillow suggests that Property in Zip 33715..Tierra Verde has gone down /- 30 % since Jan 2010...Is this because most houses have been up for one Yr?

Asked by Rld, Saint Pete Beach, FL Mon Jan 24, 2011

Or is this because sellers are just unreal and do not realize that there are no buyers and have their heads in the sand??

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Answers

6
Zillow is a good web site - but with that answer - Zillow is incorrect.
0 votes Thank Flag Link Sat Jan 10, 2015
Gosh I can't stand those pesky Zestimates. If you scroll all the way to the bottom of the Zestimate page, it will show the accurate rates for each area. In Tampa Bay, last I checked there was a 14.6% margin of error. If I valued a clients home with a 14.6% margin of error - I'd be out of business pretty quickly! Don't put too much faith in a Zestimate - a licensed Realtor or an appraiser can give you a much better opinion of value. A Zestimate can't consider things like a property's view, upgrades, etc. Here's a blog post I wrote on this very topic: http://www.lianejamason.com/real-estate-news/post-5/

Liane M. Jamason, Realtor
Jamason & Associates
KELLER WILLIAMS REALTY
cell: 813.486.4997 | fax: 813.856.3488
Search Tampa Bay Homes: http://www.LianeJamason.com
Web Reference: http://www.lianejamason.com
0 votes Thank Flag Link Sun Feb 13, 2011
RLD,
Aggregrate sites such as ZILLOW and Trulia do not hold themselves responsible for the data produce. They will remark using terms such as guidelines. When a citizen chooses to use these aggregate web sites they hopefully understand the data they read is foggy at best.

In the past two weeks you may have read in the St Pete times the writer refering to the Tax Assessors 'Just Market Value' as a appriased value. With so much bogus data floating around, the citizen really needs to invest signifcant time researching the origins of the numbers from which they may base a decision.

The best source of reliable information comes from those closest to the subject. Contact your local real estate agent to get a fix on:
1. Initial price
2. Sold list price
3. Discount points
From reliable, current data, you are more likely to know the right time to make your validated offer.
Now is a great time to buy, however sucess depends on good information. Trulia and Zillow are not those sources of timely, reliable data.

Annette Lawrence
ReMax Realtec Group
727. 420. 4041
Web Reference: http://www.mydunedin.com
0 votes Thank Flag Link Sat Jan 29, 2011
Hi Rid
I've like to buy a waterfront condo at the south end of Tierra Verde near Ft DeSoto Beach, but every time I get close to buying one, someone comes along & buys it out from under me! 3 or 4 condos have sold or are pending in "Hidden Lagoon", for example, in the past few weeks! Maybe interest in the best properties in Tierra Verde is creating unrealistic expectations in the minds of owners of less desirable properties in the overall 33715 zip code, which includes thousands of apts located outside the island of Tierra Verde. Take it from me, the quality properties in Tierra Verde are selling despite the market. Properties that would have a hard time selling in any market aren't a good indicator of all property values throughout an entire zip code, especially when Tierra Verde is a separate island from the rest of the properties. Tierra Verde should have it's own zip code really, because it is completely different than the surrounding areas.
Tierra Verde has no hotels & is less commercial than St Pete Beach. Tierra Verde is almost entirely residential. Taxes & utilities are also much lower than St Pete Beach & the other areas encompassing the 33715 zip code because Tierra Verde is it's own separate island so residents only pay county taxes, not the higher St Petersburg tax rates. The more knowledgeable you become about Tierra Verde, the more you will want to live there.
0 votes Thank Flag Link Thu Jan 27, 2011
Rld,

Zillow information can be helpful but it's important to understand their system....they often do not make necessary distinctions between neighboring areas that have obvious differences in value. If you are considering using their information, it would be advisable to become informed about your target location so you can make adjustments where necessary. A real estate agent will be able to provide you with the support you require.

Using Zillow or any other program that offers broad generalized real estate information should be done with caution.

Good luck,

Bill
0 votes Thank Flag Link Tue Jan 25, 2011
Zillow's estimates are just that, I recommend you speak with a local Realtor and ask to do a market analysis based on recent sold comps to determine actual values.
0 votes Thank Flag Link Tue Jan 25, 2011
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