It's no secret that we're experiencing a seller's market. Sellers have much more leverage than buyers do in our current real estate market. Realtor Magazine recently published a very insightful article including data provided by Redfin.com that was gathered by surveying sellers. This post discusses some of the interests and concerns that those ready to sell their homes are facing and to what percentage they would agree. Remember me if you're interested in buying or selling residential, commercial or investment real estate in the Charleston, SC area!
Zillow and Trulia are merging to be become one larger Zillow. Sites like these are fantastic tools for those who are thinking of buying or selling and would like to monitor their local market. Unfortunately, that is about all that these sites are really good for. These sites aggregate their data from local MLSs, which is the primary tool used by Realtors and real estate agents. Sites like Zillow and others are very slow to aggregate that data and are very often outdated. Furthermore, the data is often corrupted when it translates to their sites, which makes for a lot of confusion and misinformation. The final frustration with these sites is that their "zestimates" (estimated home values) are determined using blanketed data from national numbers and very rarely ever accurate. As a Realtor, I spend a lot of time explaining to my clients that their house is not actually worth X despite what Zillow says because these sites fail to valuate a home from a local market perspective. Again, I do think these are valuable tools for get a feel for the market and do your own casual shopping. However, there is no substitute for working with a local, real estate professional with access to real and accurate listings and data. Remember me if you're thinking of buying or selling residential or commercial real estate in Charleston!