The Zillow iBuyer program failure is a complicated and nuanced issue. What was the Zillow iBuyer Program? The Zillow iBuyer program was a program where Zillow would buy a home directly from a homeowner/seller to allow the homeowner not to have showings, get the home ready to show, etc. Zillow then would own the house [...]
Zillow Zestimates are still incorrect in Baltimore and beyond. Recently, the founder of Zillow bought a home. He paid $1 Million ABOVE the Zestimate for the home he bought. This was reported in a real estate industry newsletter called Inman, who got the information from an article on the Variety website. From the November 11, [...]
Zillow Zestimates may be inaccurate again and again in Baltimore. Zillow Zestimates. Buyers often look to them, thinking they are a good representation of a home's value. In reality, often (not always, but often,) Zillow Zestimates can be off. Especially in Baltimore County. This happens across the country. The Los Angeles Times published an article regarding this [...]
FHA condo recertification should get easier, thanks to the passage of H.R.3700 - Housing Opportunity Through Modernization Act of 2016 on July 14. It also lowers the current owner-occupancy from 50% to 35%, which should hopefully make more Baltimore County condominium communities eligible for FHA financing. Right now, there are a number of Baltimore County condo [...]
Towson Zillow Zestimates continue to be incorrect and problematic in the public's understanding of the value of a home. I listed a Towson home that will be coming to the market in March. We have completed our paperwork, and are readying for the Baltimore real estate market. One thing we discussed was their rather low [...]
A Class Action workers compensation case by Schibell & Mennie has been filed against Wells Fargo due to reductions in HELOCs all over the country. In May of 2009, I wrote about Towson Zillow Zestimates affecting a client's HELOC loan, and how his line of credit had been reduced right in the middle of construction [...]
Baltimore Zillow Zestimates are still often off from true value, despite the change in algorithms last year. "Desktop Valuations" are a quick way to look at the potential value of a home, but they do not take many factors into consideration, and some of the things they DO use to determine a value should not be used! [...]
What is done in a home inspection? What is covered? A home inspection, usually, is a VISUAL inspection of a property, running water & systems when they can be run. What does that mean? It means that the inspector can't break through walls, can't take things off or apart, or ruin the house in any [...]
Recently, there were changes made to the FHA condo regulations on which projects can be FHA insured or not. According to a Washington Post rundown of the changes, a major one is the "spot approval" that used to be acceptable to be eligible for an FHA loan. Another article goes more in depth on the [...]
Last night, Zillow posted a tweet, inviting you to look at this glorious mansion on the market for $35,000,000. Please note, that is $35 MILLION. The amusing part to me, is when I clicked on it, directly under the asking price is the Zillow Zestimate: $396,500. Yes, you read that right, Three hundred ninety-six THOUSAND, [...]