first time buyer lender: Not the first time I've had to explain this and it won't be the last
- 04/16/15 12:45 PM
As real estate professionals we all have our complaints about the information people receive from online sources such as Zillow. In fact, Zillow's own CEO recently admitted that the average margin of error on their "Zestimates" is somewhere around 8%. To put that into numbers for you let's take a house with a real value of $300,000. Zillow's AVERAGE margin of error will place that Zestimate somewhere between $276,000 and $324,000. Obviously this is not an insignifcant difference. On the high side an agent may have trouble convincing a seller that there house is really worth $300k because "Zillow says … (0 comments)
first time buyer lender: First time buyer market share better than last year
- 12/30/14 01:36 AM
The November 2014 Realtors (r) Confidence Index Survey showed that 1st time buyers accoutned for 31% of the sales in November 2014 up from 29% the month before and 28% from November 2013. Distressed sales market share also was 9% compared to 14% at this time last year. Median Days on Market was lightly higher at 65 versus 56 for the same period last year.
www.mtizzano.amerifirst.us … (0 comments)
first time buyer lender: Homeowners gained $1.7 trillion in equity in 2014
- 12/26/14 01:57 AM
According to the article on CNBC, although home price increases slowed down dramatically this year they still made enough gains in equity, enough to give homeowners a collective $1.7 trillion in equity over last year. There are still approximately 9 million homeowners in a negative equity position. According to Zillow's chief economist we can expect there to remain a large number of negative equity situations in the hardest hit areas for several more years. However, the overall market is seeing some growth and places like Texas and Los Angeles are seeing great gains. It is pretty clear that other markets, especially those … (1 comments)
As real estate professionals we all have our complaints about the information people receive from online sources such as Zillow. In fact, Zillow's own CEO recently admitted that the average margin of error on their "Zestimates" is somewhere around 8%. To put that into numbers for you let's take a house with a real value of $300,000. Zillow's AVERAGE margin of error will place that Zestimate somewhere between $276,000 and $324,000. Obviously this is not an insignifcant difference. On the high side an agent may have trouble convincing a seller that there house is really worth $300k because "Zillow says … (0 comments)
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