Sunday, March 3, 2013

Why do I keep seeing homes that their listing prices ... - Zillow Real ...

Not looking to get into an argument with you Wetdawgs, just trying to present the other side.

In nearly 14 years of doing this, have I never seen an agent come in 20-30% off on a CMA.?

CMA's don't usually show the final sale price, but they should be in the ballpark.? Most sale prices in my area are within 96% of the CMA price.? Maybe it's a territorial thing, maybe you have just had some really bad luck with agents.

The price given on a CMA is usually the list price, so figuring out the percentage between list and sale price wouldn't be that difficult.? There will always be a few off the mark, but I'm sure that the average difference would be similar.

CMA's won't use a 2 bedroom 1 bath condo when comping out a 4 bedroom 2 bath single family home, or a new construction home against a 1950's ranch, and Zestimates will because they pull the recent sold properties as comps regardless of what they are, condition they are in or location.?

So I just can't buy that a Zestimate gets it right most of the time.

Source: http://www.zillow.com/advice-thread/Why-do-I-keep-seeing-homes-that-their-listing-prices-are-lower-then-market-value/481002/

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