I've written many blogs specifically for the Grand Prairie, TX area as well as the Arlington, TX area. We specialize in listing homes and are the best Remax near you. 

July 8, 2018

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about what the local Grand Prairie Market is performing? So are we! Actually, we are pretty obsessed. Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more.

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

 

 

Read my blog about what it takes to sell your home 

 

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Posted in Market Updates
April 23, 2018

Is Zillow really accurate

How accurate is the Zestimate?

 

Ah, the famous question. You may be just as guilty as a lot of people of typing in your address to find out what your home is worth. Zillow uses what’s called an “automated valuation model” or AVM. This algorithm takes into account any homes that were sold, current transactions and your tax assessment. This is true of homes in Tarrant county. 

 

This seems like an easy way to come up with your home valuation, but it is also far from the truth. Zillow has admitted that their Zestimate may not determine the actual price. Don’t just take my word for it. Here’s what Zillow has posted on their website

 

“Zillow does not offer the Zestimate as the basis of any specific real-estate related financial transaction. Our data sources may be incomplete or incorrect; also, we have not physically inspected a specific home. Remember, the Zestimate is a starting point and does not consider all the market intricacies that can determine the actual price a house will sell for.”

 

As of now, their algorithm in the DFW area is only accurate within 20% of the sales price. Those are thousands of dollars that people could be losing out on if they price their home according to their AVM. If there is little to no market activity, Zillow will expand the radius and the homes that it uses to valuate yours. This strategy only worsens the value estimation due to the simple fact that different neighborhoods carry different values. If the radius is too broad, the value of your property will be calculated inaccurately.

 

Sadly, there is no secret formula that will give you an accurate estimate of value, no matter how state of the art it is. Because Zillow has never seen your home, they have no way of knowing about any upgrades, improvements or even damages your house has undergone. Their algorithm is not capable of calculating different types of remodeling and how it impacts the value of your property. They may be comparing your home with the cat lady’s home. 

 

The only way to truly receive accurate information is to contact a Local Realtor in Grand Prairie and ask for a Comparative Market Analysis. Who better than local expert to view your home and give you real numbers to work with when it comes to your largest and most important asset. I’m here to help.