Who is your BAE? (http://slangdefine.com/bae-meaning/)
If you’ve recently thought about buying or selling, chances are you’ve heard about the infamous Zillow.com. This single website has become a major player in the real estate world, and is changing the way we do business. Before you go on making Zillow your BAE, here are a few things you should consider…
- Zillow Zestimates are exactly what it sounds like…an estimate. In order to come up with these Zestimates, Zillow uses very measurable data like the number of beds, baths, and square footage. Keep in mind that these estimates do not take into consideration a recent kitchen remodel, finished basement, or the oversized private lot. Before you make an offer on a home, talk to a real estate agent about recent sales in the area to get a more accurate market analysis. If you don’t want to take my word for it, watch this quick clip from Zillow
- Zillow may have outdated information. If you’re using the website to get yourself familiar with the market before reaching out to an agent, great! Zillow is a great first step that is low pressure since you can search from the comfort of your own couch. However, if you’re serious about finding a home, you’ll want to get connected with a Realtor who can get you connected with your local MLS so you receive new listing emails the minute a new home hits the market. Don’t waste your time waiting for Zillow to eventually pull new listing data when you could have it emailed directly to you. Even Zillow recognizes that the MLS is the best source for accurate info…check it out
- Foreclosure homes are not always for sale. In order for a home to be advertised as a foreclosure on Zillow, the homeowner simply needs to be behind on mortgage payments. This doesn’t mean that the home is actually for sale, or ever will be for sale for that matter. Click here to learn a little more about what Zillow classifies as a foreclosure. If you are interested in purchasing foreclosure properties, get in contact with a real estate agent. They should be able to send you a list of foreclosures since most are listed for sale on the MLS.
All in all, Zillow has become a great tool for consumers. They’ve put a wide array of useful information in one spot – nearby sales, property tax history, school info…you name it, Zillow has something to say about it. Keep on using this popular site, but make sure you have an agent on your side to help you sift through the information Zillow is throwing out there.