Go to websites like Zillow.com and find out what your home is worth, right? If you think so, keep reading...
Be sure to read the fine print before you get excited about how much your home is worth or before you become depressed about how little your home is worth!
Zillow.com states on their website that, in Orange County, over 56% of the time, the value they show will not be within 5% of the actual sale price. For an average $500,000 home, that means that More than 56% of the Time, the Value Zillow Shows will NOT be in a $50,000 range of the True Value.
Zillow.com also states on their website that, in Orange County, over 30% of the time, the value they show will not be within 10% of the actual sales price. For an average $500,000 home, that means that more than 30% of the Time, the Value Zillow Shows will NOT be in a $100,000 range of the True Value.
Some Homebuyers are using Zillow and similar online home valuation sites to determine how much to offer. This can lead to overpaying for a home or walking away from a good deal because they think they are using accurate data to determine the market value.
Get the Latest REAL Information on Homes Listed and Sold in Your Area, emailed to you, including Pictures, Addresses, List and Sold Price, Days on Market, and Map with Aerial Photos, Go to:
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MARKETING YORBA LINDA REAL ESTATE • ANAHEIM HILLS REAL ESTATE AT THE HIGHEST LEVEL Here to Help Make Your Move Easier, Questions? Contact Us at 714•694•0880 jim@jimsalem.com
