Why Zillow's Home Values Are So Far Off



I wanted to talk a bit more about Zillow home estimates. Zillow is becoming one of my favorite sites not because I use it every day, but because I run into buyers and sellers who are using it every day.

People ask me daily about Zillow and the things they see on the website. I don't use it to price homes, but sometimes I'm actually forced to go to Zillow to look at their home values to see how off they are! There was an article recently published on Inman.com about the CEO of Zillow and how his home's estimate - or Zestimate, as they call it - was 40% off.
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The method is not scientific.

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This was not an isolated case, either. The values are off by a number of ranges, sometimes up to 70%. This should give a pretty clear picture of the information you're looking at with Zillow. It's a great website and I have nothing against it, but please do not use it to price your home. The method is not scientific, and there's no live person behind the pricing. For example, Zillow can't account for things like a home being right off a highway, which would normally take about 30% away from a home's value. Likewise, Zillow doesn't know of or factor in any upgrades or renovations done to your home.

If you want an accurate home valuation, call a local professional like myself. We can provide you with the most accurate info. In the meantime, if you have topics you're interested in, send me an email and we can discuss them. I'll see you in two weeks!
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Location: Washington, DC, USA

One Simple Thing Will Cut 8 Years Off Your Mortgage


What if you could cut eight years off of your 30-year mortgage? How would that make you feel? There is one simple thing you can do to make that happen: make one extra mortgage payment each year.

Adding one extra mortgage payment will turn your 30-year mortgage into a 22-year mortgage. If you can’t afford to do one full extra payment, you can still cut down your mortgage by making that extra payment in smaller increments.

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Add 10% to your monthly payments & cut 8 years off your mortgage.


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Simply add 10% to your normal mortgage payment. For example, if your monthly mortgage payment is $2,000 and you add an extra $200 each month, you will still shave eight years off your mortgage.

Another way to shorten your mortgage is to refinance and switch to a 15-year mortgage. Keep in mind that the 15-year mortgage payments will be very high, and not everyone can afford this option. That’s why one extra payment a year is a great way to earn your financial freedom in fewer than than 30 years.

If you have any questions, give me a call or send me an email. I would be happy to help you!

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Location: Washington, DC, USA

3 Toxic Mistakes That Can Ruin Your Home Sale



There are three deadly mistakes that every seller should avoid when putting their home on the market:

1. Overpricing: If you overprice your home hoping that someone will magically swoop in and make you an offer, you’re delusional. That’s a fantasy. By overpricing your home, you’re actually alienating buyers. Realistic sellers are going to sell for fair market value, and they’ll sell long before your overpriced home does. You’ve got to price at market value in order to sell as well. You don’t have to give it away, but price the home to sell.

 2. Making a home difficult to show: We all have busy schedules, agents included. However, you need to be as flexible as possible for showings. The more difficult you make it to show the home, the fewer buyers will visit and the fewer offers you will have in the end.

3. Choosing the wrong agent: A lot of you have friends or family members that are agents. You may feel obligated to use them and that’s OK. However, before you commit, do some homework. Look at how many homes they’ve actually sold, what their track record is, and their average days on the market. Selling your home is as much a business decision as it is a personal one.

If you have any questions about selling your home or anything else real estate-related, give us a call or send us an email. We’d love to hear from you!
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Location: Potomac Falls, VA 20165, USA
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