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ZILLOW
I have been hearing alarming things from buyers and clients
about the information Zillow puts out as fact on their web
site.
Zillow says it can tell you all about values, prices, recent
sales and so forth of any area in the country, with accuracy,
by using multiple listing and tax records. Their statistics
are anything but accurate. Examples:
Buyers from out of state (Chicago) e-mailed me to say that
they had “found on the internet” (Zillow) that there were only
3 sales on Folly Beach the last quarter of 2006 and they were
concerned at so little activity. In point of fact there were
17 sales that quarter on Folly recorded in multiple listing,
and probably one or two more that were transacted outside
multi list.
Another buyer from NJ called recently to say that he had
researched on line (Zillow) and found that a house downtown
that is currently listed for $580,000 was said to be worth
$461,000 by Zillow calculations. He outlined how they reached
that figure and their methods were obscure to say the least –
and most of all - wrong!
Moral of the story - Check with a local agent before accepting
a Zilo statement. Help like that we don’t need.
I will be happy to answer any and all real estate questions
you have about the Charleston market! Helene
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