|MARKET ANALYSIS CLARIFICATION|
Numerous, recent high profile media reports have quoted statistics from Zillow.com regarding home values. I'd like to clarify that the statistics from Zillow, and the results derived from them, are flawed. Zillow.com determines home values by proximity and size, but not by comparable homes in comparable condition. A professional Realtor, or assessor, is more selective in arriving at the market value of a home. For example, a house in foreclosure, gutted and vandalized, has a far different value than a well- maintained and occupied home. Yet Zillow.com has no way of knowing the condition, but compares them equally.
The real estate market has been burdened with foreclosures, and assuredly, these drag down prices overall. Further market distortion is created by the reluctance of discretionary sellers, especially those who purchased after 2005. To arrive at a realistic value of your home, or a house you are looking to purchase, contact a Realtor for a free Comparable Market Analysis. For the most accurate Twin City market information, please click on the link here for the Minneapolis Area Association of Realtors and view the market trends. The market has been constantly changing and it’s important to have accurate information when making decisions about one of the largest assets we have- our home. If you have any questions about Real Estate, I would be happy to discuss them with you. Sincerely, Rose Hart 612-250-0119.
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Rose Hart's Outside is a promotional eNewsletter for Rose Hart, Realtor Copyright, Rose Hart, 2011