What Carlsbad Home Buyers Should Consider When Using Zillow

By
Real Estate Agent with Solutions Real Estate CalBRE License #01490977

Home Searches and Estimates of Value

What You Should Know About Zillow

 

You may or may not be using Zillow in your Carlsbad home search – but many buyers do. If you are a Zillow user, however, there are some important things to understand about this popular website.

 

By the way, if you are also planning to sell your Carlsbad home, there are things homeowners should know about when using Zillow.

 

Searching online on ZillowSEARCHING ON ZILLOW

First, Zillow commonly pulls listings from other websites, as other sites do, and as a result some listings you see may not be accurate or up to date.

 

That’s not to say you should not use Zillow for home searches.

 

But be aware some listings that appear on Zillow have already been sold or are not actually available (e.g., some pre-foreclosure and foreclosure listings – they are marked that way so watch for this). And in some cases pricing may not be accurate.

 

As you are searching for homes, you should also keep in mind that not all public listings are on Zillow.

 

So what does that mean for you?

 

You may miss out on properties that fit your needs and budget if you only use this site for your home searching. Just this morning I looked in my Carlsbad zip code of 92010 – the MLS has 24 detached single family homes for sale, while Zillow shows 14!

 

Talk with your Realtor about getting the up to date listing information you need and to check on listings that interest you when you find them on your own.

 

Online estimates of valueESTIMATES OF VALUE 

Secondly, you probably know that Zillow provides estimates of value for homes called Zestimates. The issue with Zestimates is that they are often incorrect – they may be low or they may be high for a given property, and sometimes that difference can be thousands and thousands of dollars.

 

This is true for other online estimators as well, and the differences among them can be significant in some cases.

 

Why is this important to know?

 

It is obviously not a smart strategy to make an offer on a property if a Zestimate is wrong. Unfortunately, if you are not working with a Realtor you won’t know if that’s true.

 

Using a Zestimate, or any other online valuation, is not the right way to come up with an appropriate offer price – your Realtor will help by reviewing looking at comparable recent sales and other information to advise you on what the market value really is and how to make the best offer, especially if you are competing with other agents.

 

Consider this. Making an offer based on a Zestimate that is lower than what the true market value is means you will likely not be successful. (Read more about other ways that buyers can sabotage their offers.)

 

On the other hand, you certainly would not want to submit an offer on a home based on Zestimate that is higher than market value if that’s the case. I know a recent seller whose Zestimate was substantially below what 3 Realtors told him the current market value was (they were all the same). Good thing he listened when listing rather than going with the Zestimate (interestingly one other popular online valuation was almost $100K over the market value).

 

As a concerned buyer you should understand that online home value estimates do not take into account some factors that influence a home’s true market value, such as location, views, amenities and condition, which is why they may not be accurate. Realtors, and appraisers, know this, and know how to make the appropriate adjustments in pricing. I don’t think Zestimates can do that!

 

And these evaluations might not be based on appropriate comparable sales, such as including a single story home sale when the subject property is a 2-story, or a recent refinance on the house.

 

Home Buyer HandbookWHAT TO DO

Bottom line? There is nothing wrong with using Zillow to search.

 

Just be aware of potential problems around accuracy and missing listings.

 

And as far as looking home value estimates up, while you might enjoy the immediate response of learning what homes you like MAY be worth according to Zillow, a prudent buyer will not make buying decisions based on Zestimates, or any other online estimations, at least if you want to successfully buy a home.

 

It's important to  talk to your Realtor for the most sound and accurate advice!!

 

When searching on Zillow, or other sites, if there are particular properties in Carlsbad or nearby that interest you, feel free to contact me at (760) 840-1360 so we can discuss your particular needs and budget, and verify those properties for you in the MLS. And of course we’ll discuss the market value after seeing a home you like if you are ready to make an offer.

 

You can search the complete inventory in Carlsbad by clicking on the photo to the right (the MLS is updated 24/7).

 

Or we can discuss your budget and criteria and I will set up a custom search for you for Carlsbad, or nearby.

 

If I can help further in any way, or answer any questions about the housing market conditions, the purchase or sale process, or specific neighborhoods, please reach out to me at (760) 840-1360.

 

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Topic:
Home Buying
Location:
California San Diego County Carlsbad
Groups:
CALIFORNIA REAL ESTATE
Advice for Buyers
HyperLocal Neighborhood and Community Posts
Tags:
zestimates
home buying tips
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Rainmaker
2,596,057
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

In general the supplies with most interactions with Zillow has its own kind of hub and still works pretty well! :)

Aug 09, 2018 11:15 PM #1
Rainmaker
2,788,412
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff great points, the short answer is use a Realtor and do not rely on the Z platform... I asked a potential buyer today how he found me and he told me it was through The Red... platform and I told him TG it was not on Z because at least he had accurate information about my listing, Endre

Aug 09, 2018 11:54 PM #2
Rainmaker
2,497,347
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Jeff.

Earlier this year I confronted our local MLS about selling our listing to Z. In the end I lost of course.  It's all about the $$$.  

Aug 10, 2018 01:39 AM #3
Rainmaker
1,504,469
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

this is such a good post to share with buyers and get them to  use our own apps

Aug 10, 2018 04:23 AM #4
Rainmaker
4,367,363
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Good morning, Jeff Dowler, CRS neither buyers nor sellers should be using Z... they would be wise to call you, Jeff Dowler, a well-versed real estate agent for guidance with both buying and selling....

Aug 10, 2018 04:56 AM #5
Rainmaker
2,485,599
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Jeff... great post. What you wrote about is what I discuss with my clients and prospects when they contact me about a home on Zillow or a Zesstimate... when I'm done with them, 99% stop using Zillow and ask where to search, which is the perfect opening to getting them onto my website.

Aug 10, 2018 05:16 AM #6
Rainmaker
2,726,996
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Good morning Jeff. You can't stop it but you can warn people about the problems. Hopefully they choose well. Enjoy your day!

Aug 10, 2018 05:26 AM #7
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

There are a lot of real estate tools out there and to only consider one is making a big mistake. One needs to use all the resources before making decisions.

Aug 10, 2018 08:29 AM #8
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3,378,825
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Jeff- the smart thing to do is hire a professional, experienced agent such as yourself!!!

Aug 11, 2018 06:33 AM #9
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Endre Barath, Jr. 

That's definitely wise advice. I do look at Z myself regularly so I know what's going on and am familiar enough with it to talk intelligently with buyers and sellers, despite the issues.

Jeff

Aug 12, 2018 04:49 PM #10
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Yes indeedy James Dray  and those pockets are pretty deep. They've come a long way and need to keep stockholders and investors happy!

Jeff

Aug 12, 2018 04:50 PM #11
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Absolutely sage advice, Jeff! I have this talk with someone at least once a day, it seems! I don't know when this 'madness' will ever end but, I can tell you that there will be some happy, happy real estate agents when it does...if ever it does!

Aug 16, 2018 10:27 PM #12
Rainmaker
4,091,123
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Congratulations on the featured post. I hope consumers will read it and learn.

Aug 17, 2018 03:50 AM #13
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Jeff Dowler, CRS

The Southern California Relocation Dude - Carlsbad
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