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2016-02-20 08.40.22

Sellers shouldn’t get attached to any certain price – they aren’t the ones paying it.  Instead, select an attractive list price, and judge the market’s reaction – and adjust accordingly.

A story on the accuracy of zestimates:

http://www.latimes.com/business/realestate/la-fi-harney-20150208-story.html

In Carlsbad, Calif., Jeff Dowler, an agent with Solutions Real Estate, did a similar analysis on sales in two ZIP Codes. He found that Zestimates came in below the selling price 70% of the time, with disparities ranging as high as $70,000. In 25% of the sales, Zestimates were higher than the contract price. In 95% of the cases, he said, “Zestimates were wrong. That does not inspire a lot of confidence, at least not for me.” In a second ZIP Code, Dowler found that 100% of Zestimates were inaccurate and that disparities were as large as $190,000.

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