Did you talk to our neighbors to see how much their home sold for? Someone told me it sold for $20,000 over asking with multiple offers!”
Does that sound familiar? A For Sale sign in the yard and then a few days later, a SALE PENDING sign rider is hung beneath it. 2020 has been a year full of surprises: a pandemic, sports cancelled; record unemployment claims; a resurgence in baking, DIY, and gardening; schools starting the year with distance learning; and the real estate market’s seeming resilience to prices.
Automated Real Estate Property Values
When you see your neighbor’s house sell, do you hop on the computer or pull up Zillow on your phone to check the Zestimate? Zestimates or automated values of homes are not all bad. Yes, they can be misleading. A property’s value from aggregated data sources is within range of what your home could sell for, but it is not a guarantee. I understand the appeal of automated values. You can pull up the Zestimate for your home and get a rough idea of what your home is worth without any appointments or discussion with a real estate agent.
If you are curious about how accurate a Zestimate is, Zillow posts it on their website: https://www.zillow.com/zestimate/
When our real estate agents meet with sellers, they ask whether you have checked your Zestimate or received another computer or algorithm based valuation. Depending on the way the market is going (speeding up or slowing down) and the unique features of the home, they can evaluate whether the estimate needs to be adjusted.
Who sets the price for your home? You choose what you want to list your home for, but ultimately the market and the vast number of home buyers in the market decide what your home is worth.
Real Estate practices have changed since March and we are now routinely preparing the PEAD — Property Entry Advisory Disclosure — form for clients. The PEAD is the form which facilitates the entry of a property during COVID. Whether I am going to your house for a listing appointment, you as a seller are permitting access to a buyer or inspection, or a buyer is touring your home, we want to ensure the right disclosures have been made and that health precautions are taken.
KALEO Real Estate Company can list your home whether you are downsizing, moving to a different county, or out of state to Idaho, Arizona, or Montana (to list a few popular California out-migration states).
Give me a call and tell me what the Zestimate of your home is. Let’s find out whether you could sell for that this month!
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