What’s your home worth according to Zillow
1 Comment Published by chrismolnar February 13th, 2008 in Burlingame, Buyer Tips, Neighborhoods, Seller Tips. by chrismolnarFinally, the Chronicle gave all of us some good news with their front page article in yesterday’s paper. There are areas on the Peninsula that have homes which have increased in value. It was acknowledged that the Bay Area has many micro markets. It really is important to know your neighborhood and local Real Estate market.For a buyer, a ten mile drive south on El Camino Real from Daly City to Millbrae or Burlingame could be the difference between lots of inventory to competing in a multiple offer situation. If you want to check your home’s value to get a general idea, check the Zillow website. But if you need to know what your home is really worth, make sure you know about the current inventory, days on market and number of sales in your specific neighborhood.
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Chris-
I totally agree that real estate is local, local, local — and the importance of knowing the local market. A big part of why we think our quarterly report data is so relevant is that it covers 125 MSA’s, and goes down to the zip code and/or neighborhood level within those geographic areas. That said, we still recommend that people consult a local professional before making a serious financial decision — Zestimates are not a replacement for a CMA or appraisal, they are a starting point.
For those interested, anyone can dive into the data themselves by visiting our quarterly reports page (our data analyst even built a cool little app that allows you to see the data on map).