Even the CEO of Zillow turns to real estate professionals when he is valuing homes for personal purchase and sale. Zillow CEO Spencer Rascoff, according to a recent article in Market Watch, sold a property for less than its Zestimate (the term used on the Zillow website to indicate the possible value of a property) and bought higher than the Zestimate on another. He also said Zestimates are a starting point for pricing but suggested talking to an agent for a more accurate value in the local market. This is something agents have long known - nothing replaces local knowledge. Unfortunately, in the current world of point and click information, buyers may believe what they read online to be true without doing additional research and consulting a real estate professional. Read the entire article on Zillow's CEO by clicking here.
Prices Up But Rates Still Low
