{"id":343,"date":"2006-09-16T18:57:19","date_gmt":"2006-09-17T01:57:19","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=343"},"modified":"2007-04-20T17:03:05","modified_gmt":"2007-04-21T00:03:05","slug":"ask-the-broker-where-can-you-go-to-get-the-most-accurate-estimates-for-real-estate","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/343\/ask-the-broker-where-can-you-go-to-get-the-most-accurate-estimates-for-real-estate\/","title":{"rendered":"Ask the Broker: Where can you go to get the most accurate estimates for real estate?"},"content":{"rendered":"

Who can best judge what a piece of real property will sell for?<\/p>\n

We all know the answer to that: The best estimate of the value of real estate will come from an experienced real estate appraiser, preferably one with a lot of experience in the neighborhood where the subject property is found.<\/p>\n

After that, a Broker’s Price Opinion — same stipulations — will come second. In certain very homogenous neighborhoods, a Broker’s Price Opinion may be just as accurate as a full appraisal — and a lot cheaper.<\/p>\n

Third place belongs to an experienced agent’s Comparative\/Competitive Market Analysis. This can be very accurate in homogenous neighborhoods, substantially less so in areas where the homes or lots differ significantly from property to property.<\/p>\n

Last place goes to the results produced by an Automated Valuation Method such as Zillow.com or NetValueCentral.com in the Phoenix area. I have written a lot<\/i> about the defects in Zillow’s methods and practices<\/a>, as has Sellsius&176; Real Estate blog<\/a>. The Cliff’s Notes: An AVM does not evaluate houses, but rather statistics and records about houses. It cannot, for an extreme example, tell you whether the house is still there at the time of the evaluation<\/a>.<\/p>\n

It is fairly common to hear people say that AVMs will get more accurate in time. In fact, there is a finite limit to how much they can be improved. A CMA is essentially an all-paper calculation, with no inspection of the property on the ground. But a CMA is produced by an agent who has a great deal of on-the-ground experience, most of which will never be encoded into an AVM’s software. And nothing that would be considered an unzillowable factor<\/a> — landscaping, decor, orientation, views, etc. — can ever be automatically accounted for by an AVM.<\/p>\n

But: The other end of this question is need versus costs. If you want to know what your supervisor’s house is worth — use Zillow.com. It costs nothing, and close enough is good enough. If you need to know what to offer on a house you want to buy, you need a CMA at least. The good news is, your Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Who can best judge what a piece of real property will sell for? We all know the answer to that: The best estimate of the value of real estate will come from an experienced real estate appraiser, preferably one with a lot of experience in the neighborhood where the subject property is found. After that, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,4,6,5,25],"tags":[],"class_list":{"0":"post-343","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-ask-the-broker","7":"category-disintermediation","8":"category-marketing","9":"category-real-estate","10":"category-zillowcom","12":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":723,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/723\/use-full-appraisal-to-correctly-assess-houses-true-value\/","url_meta":{"origin":343,"position":0},"title":"Use full appraisal to correctly assess house’s true value","author":"Greg Swann","date":"December 1, 2006","format":false,"excerpt":"This is me from today's Arizona Republic (permanent link): Use full appraisal to correctly assess house's true value Who can best judge what a piece of real property will sell for? We all know the answer to that. The best estimate of the value of real estate will come from\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1260,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1260\/ask-the-broker-asks-the-audience-how-best-to-invest-an-unexpected-windfall\/","url_meta":{"origin":343,"position":1},"title":"Ask the Broker asks the audience: How best to invest an unexpected windfall","author":"Greg Swann","date":"April 3, 2007","format":false,"excerpt":"Another question requiring expertise far beyond a broker's license. Fortunately we have two great investment writers, three off-the-charts lenders and a readership of very prosperous people. Here's the problem:I have come into a situation, and was wondering if you could give me your opinion. I have recently come into an\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":874,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/874\/dual-agency-smack-down-arizona-association-of-realtors-general-counsel-michelle-lind-on-dual-agency\/","url_meta":{"origin":343,"position":2},"title":"Dual Agency Smack-Down: Arizona Association of Realtors General Counsel Michelle Lind on Dual Agency . . .","author":"Greg Swann","date":"January 8, 2007","format":false,"excerpt":"The Arizona Association of Realtors has just published Arizona Real Estate: A Professional\u2019s Guide to Law and Practice by Arizona Association of Realtors General Counsel Michelle Lind. I don't know what is planned for this book, but it is comprehensive enough to be used as one of the texts in\u2026","rel":"","context":"In "Dual Agency"","block_context":{"text":"Dual Agency","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dual-agency\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11252,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11252\/real-estate-broker-sued-for-secondhand-smoke\/","url_meta":{"origin":343,"position":3},"title":"Real Estate Broker Sued for secondhand smoke","author":"Robert Worthington","date":"February 10, 2010","format":false,"excerpt":"Alyssa Burrage was smoked out of her $405,000 condominium. Burrage has a history of asthma and has smelled smoke since she first viewed the unit on the south end of Boston in 2006 with her real estate broker.\u00a0 The broker assured Burrage the smoke she smelled was from a previous\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2010\/02\/burning_cigarette1-150x150.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1472,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1472\/mls-ad-crackdown-a-waste-of-time-expert-says\/","url_meta":{"origin":343,"position":4},"title":"MLS ‘ad’ crackdown a waste of time, expert says","author":"Greg Swann","date":"May 25, 2007","format":false,"excerpt":"This is me in today's Arizona Republic (permanent link): MLS 'ad' crackdown a waste of time, expert says Here's an interesting conundrum: MLS rules forbid one broker from advertising another's listings without permission. The question is this: What is advertising? At first blush, you might say that advertising is paid\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7488,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7488\/independence-for-realtors-comes-from-having-a-brokers-license\/","url_meta":{"origin":343,"position":5},"title":"Independence, for Realtors, comes from having a broker’s license","author":"Greg Swann","date":"March 14, 2009","format":false,"excerpt":"This came up in a private discussion, but this piece of the pizza is a matter of interest for all Realtors. Ready? GET YOUR FROLICKING BROKER'S LICENSE! I don't think I've ever said this in public, but I promise you it's an oversight that should have been obvious all along.\u2026","rel":"","context":"In "Egoism in Action"","block_context":{"text":"Egoism in Action","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/egoism-in-action\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=343"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/343\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}