The Price is Wrong with many Real Estate Sites

We are preparing to move to North Carolina this summer, right at the exact wrong time to move anywhere in the United States. The real estate market is doing flip-flops all over the place even though in our area just outside of Atlanta real estate is relatively speaking in pretty good shape and fairly consistent. Unfortunately we seem to be moving to another location that is also fairly consistent and so we can't sell our house here in the Atlanta area and expect to take that windfall and moved to North Carolina where there'll will be a discount. Both areas seem to be still selling at a premium.

We have not recently contemplated scenarios with Cary NC Real Estate , however we are now looking to move to the Charlotte area of North Carolina instead. Maybe we should reconsider and pick up a bargaining Cary?

Real Estate Technology

Regardless assault points out that there are still some fatal flaws with online real estate technology today. Multiple listing services as well as many forms of other online real estate sites can still be skewed and you can't always count on the prices you see to give you a good gauge of what the real value is the market. Seven years ago we moved to South Florida and the Internet prices for real estate online were incorrect. The actual prices were increasing every couple of weeks and typically if we looked at a house online, in reality probably cost of $40-$50000 more. Back then the prices weren't being updated correctly.

We still see a little bit of that today especially when a house is listed by a realtor and it doesn't sell in six months later it's taken away from that real turned it into another one. Sometimes those listings stay on the websites of the original realtor and get in the way.

The bigger problem today is that there is no reliable system for site or bank or mortgage company that truly goes out and does good assessments on the volume of a home. Everybody and their brother's uncle went out and got jobs during the real estate though performing home appraisals and many of the appraisers don't have any experience. Plus they tend not to actually look at the house, they simply run a report on the comparable prices in the neighborhood and completely discount anything that might actually be in the house whether it's favorable or severely unfavorable.

This means that prices of homes go up on a neighborhood by neighborhood basis regardless of whether the median price of the homes in those neighborhoods are close to being right. This is part of the problem with the real estate scenario today and why the market is correcting. Many neighborhoods have gone up as a neighborhood that did not deserve to go up and this has also placed a premium on brand-new houses as opposed to existing homes. Brand-new neighborhoods are much more likely to have the comparables be exactly the same from one home to the next that means the appraiser doesn't have to do as much work.

It doesn't mean that the new home is a better house nor does it mean that it is in a better neighborhood nor does it mean that the neighbors are going to be better, in fact all the neighbors are typically new and everybody is in the same state of moving confusion and so often times they tend to be bad neighbors because no one is grounded in a strong foundation in the neighborhood to welcome other new neighbors.

0 Responses:


Top 10 Tech Web Tips

Apps and Games

Recent Electronics and Gadget Videos


Blog Archive