A 3rd party Real Estate site ruined their lives!
Bill Feela has a story that I have to believe is simalar to many other out there.
The names and situations may be different, but the culprits are all the same.
Sadly we have been sold out and it is all about money. I think there some of that going on here also.
Give a read and let Bill Know what you think.
I was meeting with a couple in their 40's. They are hoping to buy a home. They lost their to a foreclosure a few years ago.
They had an arm product and needed to re-fi.
They jumped on the computer to see how much equity they had in their home. The went to......Zillow!
Zillow's crack site gave them a range that was not close to what they owed. Feeling totally defeated, they let the home go back to the bank.
They found out about 5- months afterwards that their home sold for more than what they had actually owed. They had gotten bad information.
When I asked why they didn't get some REAL professional help they said that they had heard that Zillow was one of the best. And when they got the information on their web site that they were underwater they had no reason to doubt it.
Zillow ruined their lives and now they were trying to rebuild it.
Yes...it was their fault for not checking with their bank and or other professionals such as licensed Real Estate agents who have all the up to date information on local values.
Yes, they should have made more of that effort. But when you given news that totally deflates you you often say the HELL with it!
People...STOP STOP STOP thinking that all these 3rd party sites are so great. Need information on your homes value. Call someone that has current information for your area. Real Estate professionals have the most up to date and accurate information and it is available just for the asking. DON'T SHORT CHANGE YOURSELF!!!!!!!!!!!!!!!!
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