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 [...]
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 [...]
Computerized appraisals have been an issue for awhile, but recently, they have become a problem for a much larger group of people. Appraisals done by people in general are both objective and subjective, which means that often if you had two professional appraisers come to your house, you would likely get two different price opinions, [...]
Why do some houses sell while others stay on the market? A very good question. The answer is rather simple: price & condition. In a Towson neighborhood where there could be 3 houses that have been on the market for months, a new one comes on. There is a flurry of activity, and the house [...]
As I wrote March 2, Towson Zillow Zestimates in general, are statistically off by a large amount. Last week I had a client call me because his HELOC was reduced by a large amount right in the middle of construction to improve his home. He could not understand how the bank could make the determination [...]