The do-it-yourself systems online make it very tempting for buyers to try to research homes without consulting a realtor first. This has always confused me as it’s the seller who pays the commission and with all the liability involved with a home purchase it’s rather penny wise and pound foolish to make that mistake.
Over the last five years, one of the newest developments in real estate is the ability for home buyers and sellers to search online for a home’s value. Popular Web sites such a Zillow.com, Cyberhomes.com, and Eppraisal.com offer free home estimates, but some consumers and real estate industry professionals say the values calculated often are inaccurate and misleading.
As a matter of fact to prove that point, there’s an estimate right now on Zillow for a lot in Carmel that shows a house on it and there is no house and never has been a house yet they are calling it a 3 bed 2 bath.. and estimating the value at $1.2, in reality it was just appraised by a licensed appraiser for $130,000.
The thing is, online home appraisal Web sites assign home values without knowing the features or upgrades of a home or the neighborhood in which it is located. Some Web sites offer a price range of $20,000-$40,000 more or less than the actual value of the home.
Since housing markets are local and not every home of a certain size is the same value, consumers can be misled into believing a home is worth more or less than the actual value. Working with a local realtor can help minimize inaccuracies in home values. Realtors can provide local housing market data and show homeowners and buyers recent sales of comparable homes in the area, to help determine an accurate list or offer price.
While some agents report that Web estimates can educate clients and provide a reasonable assessment of market conditions and the home-buying process, working with a local realtor is the best option.
Let’s take a look at some newly researched homes especially for you…
24936 VALLEY WAY, Carmel MLS#: 81020038 $1,899,000 Beds: 4 Baths: 3 (2/1) Bank owned a Saroyan home meticulously restored to perfection. Hand hewned pecan/walnut floor, custom sinks, top of the line appliances, three fireplaces situated on a totally fenced and gated lot. Bonus guest studio, electric gates, professionally landscaped, stone patios, outdoor entertainment area and more. SqFt: 2,600 Lot Size: 10,400 Sqft
25390 TIERRA GRANDE DRIVE, Carmel Valley MLS #: 81046903 $849,000 Beds: 3 Baths: 3 (2/1) Beautiful Carmel Valley Views from this very well maintained home one sunny lot. Vaulted, beamed ceiling in living room with fireplace, expanded dining room, family room, updated kitchen and large utility room. Enjoy all that Carmel Valley has to offer from the sunny, south facing deck, the large outdoor patio or the sunny screened-in porch. SqFt: 2,308 Lot Size: 38,588 Sqft
810 SPRUCE AVENUE, Pacific Grove MLS #: 81046315 $533,000 Beds: 3 Baths: 2 (2/0) Shows like a model home. Close to town on a corner lot w/fenced yard. Totally remodeled under City Senior Program. Cute as a doll house and ready to move in. if you are searching for the perfect starter home or vacation home, this is it. 2 of the Bedrooms & 1 Bath have separate entrance. SqFt: 915 Lot Size: 2,700 Sqft
0 4th STREET, Salinas Monterey Highway MLS #: 81045817 $425,000 Beds: 2 Baths: 1 (1/0) Cute as a button Spreckels home. Great curb appeal and great location. Very clean and cute inside & out, nice quiet street location. Remodeled in 2008, great working kitchen with all new appliances. Large backyard with tons of potential! New roof & hardwood floors in 2008 & new exterior paint in 2010. Move in ready! SqFt: 586 Lot Size: 6,127 Sqft
(c) Patty Ross, KRXA Radio Show #176 September 24, 2010
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