We received three offers on our new listing, and all were around $2,000,000....well under the list price. Once you get over $2,000,000, the buyers are putting up some fight. If the only strategy is to take the best offer - by far the most popular realtor strategy -...
Here are the Zillow estimates of appreciation over the next year - all are back into positive territory! If they are reading it correctly, it means they will have more increases coming over the next couple of months before the appreciation rate relaxes during the...
Here's a tip about the automated valuations. We know that Zillow and Redfin automatically adjust their estimates to within a couple of bucks of the list price once a home goes on the open market, making their estimates worthless to the reader. But Realtor.com doesn't....
We know that the perception is more important than the reality, especially for potential sellers. If they see some media coverage that is slightly positive, maybe more will come to market this year, instead of waiting for some vague unknown day in the future when the...
It looks like Zillow is sticking with their relatively flat forecasts for our local areas. It's probably realistic if appreciation goes like it did in 2022 - everything gained in the spring selling season is given back in the off-season. Note how the 'typical home...
As the national leader of real estate, Zillow is attempting to guide people with data, thankfully. Their Home-Value Index has been decent, and I'll take the -7% for San Diego....which means our premium areas haven't felt much decline at all. Their comment on current...
If everyone is relying on the zestimates....are they any good? It's a scary thought that we've become dependant upon an algorithmic computation of home values run by a third party for profit. Good thing they got out of the home-buying business! The zestimates have...
There are three types of sellers: Sure I'm motivated....if I get my price. I'll sell for what the market will bear. Desperate. Unless the home is a real trophy property, this isn't the market that tolerates aspirational sellers. For those who will only sell if they...
Our one-story listing in Aviara closed escrow today. We had listed for an attractive $1,800,000 in mid-September, and had about 2,600 views on Zillow in the first five days (see above). We received three offers, and accepted the highest at $2,100,000 cash. Previously...
The biggest fear for the North San Diego County coastal region is a meltdown in Bay Area prices. It's been estimated that 50% or more of the buyers who were bidding up homes here during the frenzy are from the Bay Area, and Silicon Valley in particular. If prices were...
