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Home Buying in 94904 : Real Estate Advice

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  • Home Buying6
  • Home Selling4
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Wed Mar 16, 2016
There are two excellent online services Trulia and Zillow. They are both owned by the same company now days but they seem to have two different pricing models as they used to be separate companies. I could be mistaken but here is what I have observed or so it appears to me:

Zillow seems to based it on what has actually sold. An appraisal for a refinance will be close to this number.

Trulia seems to project the value based on the trend. If you are selling this will help you price the home to get the most out of your home as quick as possible.

So if you are refinancing use Zillow if you are selling use Trulia

But also realize that both services are merely going by the average price of a homes. They can not see those homes, and the condition of a home can make the value swing by $100,000 . So you must adjust your value based on the condition and upgrades of your home.
If you have a lot of foreclosures then the average house is probably not in good condition, if there are more regular sales then the average house has at least a fresh coat of paint. Therefore it helps you to understand that the average house sold may be better than yours as people tend to fix the houses up before they sell them, so it is best to assume that your house may not be as good as the average and adjust based on that. If you keep your house spotless and have nice upgrades you need to add to your value based on that.
Some upgrades are more valuable than others. For example a home with fresh paint is probably worth $20,000 more than a home without it. If you have recently painted your house, you do not get to add $20,000 as most homes for sale have fresh paint, but if you do not have fresh paint you must subtract for it. Unless most of the homes that have sold were foreclosures. That is because the values are based on what has sold.

Hope that helps
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Wed Oct 31, 2012
Stefan Schermerhorn answered:
As of the end of Sept we had 2.8 months supply of housing. This is a low number. A lot of buyers and not enough desirable inventory to choose from. Basic supply and demand is here to stay until we get to a balanced market where there are 4-6 months supply of inventory.
The key word here is DESIRABLE housing. There are plenty of homes out there that not everyone is clamoring and competing for with multiple offers. They may have health and safety issues that need correction, or the house is on a hillside with many steps to the house, or limited parking, or not the "perfect" school district that everyone seems to want, or any combination of these factors. If you're willing to look at homes that Don't fit the perfect model that everyone's looking for, you can still get a good deal and perhaps even UNDER asking price. I've got buyers in contract now on a house that will sell under asking. But, it's in one of the best neighborhoods in the county with arguably the best schools.

I have a Marin Housing Statistics PDF I can send you. Just let me know. 415-272-1813
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Wed Oct 31, 2012
Stefan Schermerhorn answered:
I'd suggest you call a real estate attorney. This is a legal question and beyond the scope of a real estate agent's license to give you any advice whatsoever.
I can refer you to a local Real Estate attorney who is excellent. Let me know if you require his name.
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Fri May 11, 2012
Jeff answered:
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Sat Jul 2, 2011
Henrycompanyhomes answered:
Henry Company Homes has some realtors with short term rentals - furnished or unfurnishes - if you're looking at Pensacola, FL. Let us know.
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Mon Mar 22, 2010
Dorene Slavitz answered:
Dear Ms. Smith,
The biggest problem is finding an excellent property management company to handle your property. As with other things, no one cares the way you do. When you purchase out of state, I would expect you will have to visit at least monthly, in order to be certain everything about your property is being maintained as you want it to be. ... more
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