Home Selling in 95001>Question Details

Rbg, Other/Just Looking in 95001

I want to sell my house but in this market, I'm not sure how much to ask for. Should I use a website like Zillow?

Asked by Rbg, 95001 Thu Aug 12, 2010

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9
You should use Zillow, especially if you don't mind being wrong.

On the Zillow website, there's a link at the bottom where you can click to find out how accurate they think they are.

According to Zillow themselves, their median error in San Diego is 9.1%. This means that on a home that would actually sell for $500,000, half of their Zestimates would be between $454,500 and $545,500. And half would be outside the range.

This, to my mind, isn't particularly helpful information. Flip a coin - your $500,000 house is either worth between $45,000 more or less, or it isn't.

You know the real answer for determining how much to ask for.

All the best,
2 votes Thank Flag Link Thu Aug 12, 2010
TU Mack!! LOL – we can always count on you for a chuckle and blunt perspective.

The obvious AND correct answer (as stated in abundance below) is to go straight to the mother lode for local information:

A local, well seasoned Realtor with direct access to the local MLS data. Go to two or three if necessary.

Here is a post that may be very helpful:

Zestimates: Zany, Zesty Z-Evaluations With Zero Z-Value
http://bit.ly/a5vBuc
.
1 vote Thank Flag Link Fri Aug 13, 2010
You can get a vague idea from Zillow, but it can't narrow down as specifically as what a local agent can. Your local agent will be familiar with what homes to compare your home to. Good luck and hope your home sells quick!
1 vote Thank Flag Link Thu Aug 12, 2010
I will say nothing more than the previous answers given. Zillow can give a "ballpark", but a Real Estate Professional's opinion is much more valuable.

Side note: The one tragic mistake that sellers make is failing to take the time to discuss their home sale with at least 2 or more Realtors.
0 votes Thank Flag Link Thu Aug 12, 2010
Zillow's data will give you an idea, but it is not up to the minute market data. In this volatile market, it is better to use fresh data. Find a good Realtor in your area and ask them for a market analysis and a property profile.
0 votes Thank Flag Link Thu Aug 12, 2010
Using a local agent or 2 is best. They're familiar with stats and comparisons for the local market.
0 votes Thank Flag Link Thu Aug 12, 2010
Hi,
I agree with Anna. In my experience, although Zillow and similar website provide some good information, they are not very accurate when it comes to pricing a home. An appraisal is a good idea and also having a few agents provide you with a current market analysis that know your area well. Then choosing an agent you feel comfortable with that has access to many marketing tools to expose your home. I see your zip code is in the Aptos are and I know the area well. I would be happy to take a look at your home and provide a market analysis for you. Please feel free to contact me by email or phone.
Warm Regards,
Lonna
831-234-2911
http://www.lonnaberry.com
lonnaberry@me.com
0 votes Thank Flag Link Thu Aug 12, 2010
Hi Rbg-
Erica Pittman-Gaynor with Keller Williams Santa Cruz here. Online information can be very skewed. The best way to find out the true value of your home in today's market is to have an active Realtor come by your house and do a walk through. This would lead to a very clear picture of what you would have to price your house at to sell. The most dangerous thing for a seller in this market is overpricing the house. The best scenario is to hear about the strategy of pricing your house to bring in multiple offers. People naturally want what everyone else wants. Just as if the house is overpriced and sits on the market people wonder "why doesn't anyone else want it, what's wrong with it?"

I would be more than happy to share some information via email and follow it up with a look at your house to give you an idea of value and if this is the time for you to sell or not.

Don't hesitate to call or email me for more info. I hope this helps, have a great day.
Erica (831)818-4123
Web Reference: http://www.ericapittman.com
0 votes Thank Flag Link Thu Aug 12, 2010
Try not to rely on any online data--for an accurate picture as to value--you can either hire a local licensed appraiser or ask a few agents for a comparative market analysis--recently sold properties, currently available, in contract--then make your determination. Keep in mind that in today's market priced and marketing that maximizes your exposure are paramount.
0 votes Thank Flag Link Thu Aug 12, 2010
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