Real Estate

How Accurate is Zillow?

Zillow is the first to admit that their Zestimates aren’t that accurate (and I appreciate their honesty!). An algorithm can’t differentiate between all of the different variables that go into the determining the value of a house. There are times when an AVM (Automated Valuation Model) will be much higher or significantly lower than the actual value of a house. A few times in my career, I’ve been surprised and the AVM and I agree on the price of the house.

I decided to do an experiment. The short video below shows the value that 4 different pricing models came up with for a house I had for sale in Medford and then I reveal the price that we actually sold for.

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Listing Inventory and Sales Performance

There are a lot of factors to consider when choosing an agent to work with to sell your home.  A recent study called How Many Listings are too Many? Agent Listing Inventory and Sales Performance  by the University of Central Florida and Longwood University analyzed 10 years of real estate sales to determine if the amount of listings an agent is working with has any affect on the likelihood of the property selling and its sales price.  As you can see in the video above, it does make a difference.  Just like in the story of Goldilocks, sellers who choose to work with an agent who has too few listings (1) or too many (15 or more homes for sale), end up taking longer to sell and sell for less money.  To help maximize the amount of money you get for your house and to sell in the least amount of time, choose an agent who has a medium level of inventory.  Goldilocks found a bed that was not too soft and not too hard and you can find an agent who handles enough sales to have the experience that you need without going to a mega-agent and being lost among all of the homes they are selling.


Medford Mass Map

Who Moves to Medford?

Have you ever wondered where people moving to Medford come from? I’ve just found this interesting information from compiling the most common out of state cell phone numbers found for people living in Medford. I’ve been helping people sell their homes in Medford for over 20 years and I […]

Mortgage Rates Projected to Rise

We can all agree that mortgage rates have been phenomenally low for a long time.  The Mortgage Bankers Association, Fannie Mae and the National Association of Realtors have all projected that the 30-year mortgage rate will be at least 4% by the end of 2013. Historically, 4% is still an amazing interest […]

MLS Change

Soon properties will no longer be allowed to remain “Active” for sale but “flagged” as having an offer accepted. Having houses that are not for sale show as still active has been confusing for buyers and has messed up statistics in the area for the last few years. “ I’m […]

Fixed Rate Mortgages

You might find this hard to believe but 30 year fixed-rate mortgages haven’t always been the standard. As part of FDR’s New Deal in 1934, the Federal Housing Administration was created to help Americans purchase homes with affordable terms. Prior to then, many loans had an amount due at the […]

3.8% Medicare Tax

Are you concerned about the new 3.8% Medicare Tax going into effect on January 1st? Watch this video to see how it might affect you, especially if you’re considering selling investment property and will have a capital gain. Download this free brochure for more information regarding the 3.8% Medical Tax. […]