Zillow and Trulia....Should you be relying on their information?

Ten years ago when I started in real estate, I was interested in the new potential of sites like Trulia and Zillow and what they claimed to be able to offer consumers and agents and how they would bridge the gap of what brokers had and what consumers wanted...information!

Now having this time to see them grow and become a popular source for consumers to view homes and sales information, I have noticed that their sites offer a wealth of information but have little control or understanding of what that information means to consumers and how to filter it best to give accurate and reliable information. Even with brokers across the country adding their MLS (Multiple Listing Service) information and data feeds, they still have out of date homes for sale and sold information on their site that is not correct and "Zestimates" that are highly inaccurate to the actual pricing going in in the local real estate market.

I think thy could be a great tool for consumers and brokers to work in harmony but now brokers have the same, if not better, tools to help consumers get what they want with speed, accurate details and ability to meet or chat with an agent, see a home, get a loan, underwrite their insurance all from one place...the Broker site or apps.

Apps have really allowed the broker to make the information accessible in a very accurate way and allowed the consumer to have a wonderful experience with learning what homes they like (i.e. favorites), gathering community information, schools, and learning the market by seeing first hand the sales so they have an accurate picture to local pricing and what is for sale.

In my area and the company I work for, we have an app that allows you to save searches by searching via a criteria search( circa 1990) or the new way to search via a map and drawing the area you want to see your next home. Then the broker has gone above a normal search. They have allowed the saved search, which can also send automatic email updates to the consumer with new listings that come into the search or sales every 15 minutes. Now that is fast and accurate information!

With the markets being very local and to truly understand values, Zillow and Trulia can't write an equation accurately enough to "guess" the pricing of a home. They don't know the features of the home, what condition it is in, being able to physically walk through homes in the area or that specific home that is for sale, or the seller's situation for selling the home. That kind of knowledge is where a professional real estate agent, a realtor, can help navigate the market and interpolate the information for the buyer or seller in a way that is not only accurate but the ability to show the differences and talk about what they saw in that house that make the pricing higher or lower than the market.

These are just a few ways that these sites are becoming obsolete. There is a trend that brokerages across the country are stripping their feeds to these sites because of the lack of oversight and control of good and accurate information to consumers. Brokers are learning what they have to offer is so much more powerful than a site like those will ever be able to offer.

What would you like to see in a real estate search app or tool for home buying/selling?




- Posted using BlogPress from my iPad

Exceptional Fall real estate market...Is it time to prepare for next year?

With real estate sales up 30% above the same time last year, the market has improved almost every month this year over last year. The most notable markets are the $100,000 to $350,000 single family homes and condos under $150,000, with single family homes the absorption rates are ranging from 6 months to 8 months. Condos are 8-10 months for the range above.

October Real Estate Stats

With the market improving and shortages in some price ranges and neighborhoods, now is the time to prepare our home for the Spring market.  From decluttering to re-organizing and staging, your Realtor is equipped to help you with the entire process. 

Enjoy the holidays and be safe!  Happy house hunting!

Charlie

Real Estate Market Hot in Madison

Market Update for Dane County and First Weber

The past few years in almost every market in the United States has been anything from slow to depressing for all real estate sales.  With the market improving and the local area seeing a lot of job growth, higher rents and an unprecedented start to the first 5 months of real estate sales, the market is starting to gain momentum.

Here are statistics( stats from SCWMLS service) that show the true picture of the market.

South Central Five months Year to Date:

• Units closed are up 17.5% over last year for single family and condo.
• Average sale price is almost even at $168,207 this year vs. $169,386 last year.
• List to sale ratio is 94.66% up from 93.84% last year in the same period.

First Weber South Central Five months Year to Date:

• We are up 25% in closings.
• Our average sale price is up by 1%.
• Our market share has gone up from 16.64% to 18.03%

Dane County Five months Year to Date:

• Sales are up 16.6%.
• Average sale price is down 3.6%.
• List to sale ratio is 96.07% up from 95.71%  

First Weber Dane County Five months Year to Date:

• We are up 24% in closings.
• Our market share has jumped from 18.82% to nearly 20%.

We have experienced month over month sales increases for 11 months in a row in Wisconsin.  Sellers are more realistic and better at getting their homes priced right and having their homes decluttered and staged. 

Buyers have more confidence and are acting with less resistance than we have observed in the last few years.  This is evidenced by the fact that they are looking less and buying more and that the offers are much more likely to stay together once accepted.  

With interest rates where they currently sit, 3.875% for a 30 year mortgage, it is one of the best opportunities for buyers to buyer and sellers to sell their home.

Spring has Sprung

Spring is HERE!  The weather has completely changed when 30 days ago we had a large winter storm and now it is consistently 60-70 degrees outside.  Our allergies are early, flowers are blooming and trees are sprouting with new life.  I have even witnessed several diligent home owners cutting their lawns!!!

With this new season coming sooner than expected, the activity in real estate in Dane County has bloomed as well, especially in Madison and surrounding areas.  Sales are up over 15% while median prices remain slightly below January and February sales were in 2011.  Inventories all over the county for Single Family homes are down over 8% from last year.  With the increased demand starting earlier than normal, inventories decreasing and rates around 4%, this is turning out to be a hot start to Spring in 2012!

For a good read and full statistics please read: http://scwmls.com/public/stats/stat_search/monthly_composites/2012/monthly_stats_february_2012.pdf

I don't want to have any misconceptions to the last paragraph.  Please don't  believe it is turning into a sellers market, as we are a long way from this point.  Currently most price ranges are sitting with 11-30 months of absorption.  This means that if we added no more listings to the pool of homes available, at the current pace homes are selling, it would take 11-30 months to sell all of the homes.  The range of 11-30 months is coming from a price range of $100,000 to $1,000,000+ single family homes and condos.  A "normal" real estate market is 8-10 months of inventory.  This is close in only one price range: $100,000-$149,900 homes and condos.

It is still a buyer's market as a whole, but some pockets in the Madison Metro have felt like a seller's market with multiple offers, higher than asking price bids and quick sales!  Make sure you talk with a professional Realtor about the market in your area, so you can get a clear picture of the market, and how your home fits in that market.  We all want the most money out of our homes when we sell it, the best way to understand it is to educate yourself on the market around you and lean on a professional to help you through the pool of information and endless possibilities.

Have a great Spring!

My First Weber: 10 Tools to Help You Find the Perfect Home

My First Weber

With so many options to choose from in the real estate world.  You want to know that the information you are looking at is up to date and accurate, plus like most of us want to know that you can view the sold information.

This is all possible with a free My First Weber account on www.firstweber.com!

Once you have signed up you can set up your own search areas, see sold properties for the past 6 months.  Beyond the basics, when homes in your searches are going to have an open house or have a price adjustment, you get an automatic email.

The local knowledge and local attention to the market is what makes First Weber Group and their applications the best in the business.  Zillow and Trulia have their place but true local knowledge should come from a trusted local source.

If you have an Android or iPhone/iPad, then you can take advantage of the amazing First Weber App.  Just download the free app, login with your My First Weber account information and shazzam...you are now synced with your online account.

One advantage of the apps is that you can draw your own search areas and get instant data on the market, active and sold!

There are a lot of features in your free My First Weber account.  To register for your My First Weber account, click Here.  Check out this blog for more information: First Weber Blog

Happy Searching!

Updated First Weber app for iPhone, iPad, iTouch and all Android devices

New First Weber App on iOS and Android

With all of the tools out there to help you see the homes that you want, when you want, you need to check out the updated First Weber app on the app store.  The Android version will be available by the end of December for release.  

I am going to go over the new features and new tools to help you understand the market and get tons of details on any home that is listed on the MLS.

First Weber app allows for the following inside the app:

• Automatic location based search: your location is immediately found when the application is opened and all of the properties around that location are shown.  You can filter the search by different criteria.  Use the + sign to select different criteria, map style or life style points of interest.

 

• At the bottom, the circle is the ability to draw an object to save an area. It will show you the active and sold properties located in the area that was drawn, show you stats and allow you to save it if you want to see it anytime in real time!  All of this can be synced with your My First Weber account that is free on www.firstweber.com

 

•  If you find a property that you like, click on it and find out the details.  You can share the listing, save it as a favorite( syncs with your My First Weber account), request a showing and even call, text or email the listing agent about this property. 
• You can view the details fully by clicking on details.  
• Get directions on your phone to get to the property that you like.
• If you turn the phone or tablet sideways, you will see the photos in landscape view.

 

 

 

• As a  note, if you are working under Buyer Agency with any company, please contact your agent about wanting more information or a showing on any property. 
• The next area that you can click on is the First Weber logo in the bottom right hand corner.  
• There you can start a new map search to search any where in the entire state of Wisconsin!
• Go to your saved map searches 
• View your favorites
• See the homes that you have recently viewed
• Sign into your My First Weber account to sync all of your information
• or Find an agent in the directory

Another reason that First Weber is your source for buying and selling real estate.  We are committed to the latest tools and technology to help you in your real estate goals.

Happy Searching! 

Two Story with Four Bedrooms and Plenty of Room to Grow

3282 Box Hill Rd., Sun Prairie, WI 53590

www.firstweber.com/1629154

$269,900

4 bedrooms, 3.5 baths and over 2400 sq. feet

• Maple Hardwood Floors on Main level
• Large family room with gas fireplace and granite surround
• All Stainless steel appliances (Bosch) in kitchen
• Ceramic tile and glass mosaic tiled backsplash
• Breakfast bar
• Pantry
• Four bedrooms all upstairs
• Master Suite
• Walk-in closet with closet organizer system
• Full bath with Corian countertops & ceramic tile
• Finished lower level
• Full 7.1 surround sound
• Lots of extra storage and built in storage solutions
• Backs to mature tress and pines
• 20x15 Trex Composite Deck
• Walking distance to Horizon Elementary School and 4 parks
• Grocery and convenience stores are less than 1 mile away
• Dining and coffee shops within walking distance

Bella Casa Condo Open House

Open Houses

8530 Greenway Blvd #207, Middleton, WI 53562

December 4, 2011 from Noon to 3pm

www.CharlieWills.FirstWeber.com/1620386

• Recent renovations: Granite counter tops in the kitchen, Stainless Steel appliances, Ceramic tile, plush carpet, gas fireplace and breakfast bar.
• Wonderful location next to Greenway Station shopping, Starbucks
• Workout facility included in your condo dues
• Condo Dues are $168 a month
• Private Laundry
• Club House
• Storage Locker
• 1 Underground parking stall

What Do Buyers Want In Their Real Estate Agent?

 Top Realtor Qualities Wanted

The National Association of Realtors surveyed 5,708 buyers and sellers to find out what they want from their Realtor.  Almost every American now uses a Realtor during the home selling or buying process (89%).  This is the highest it has been in 10 years and is up over 20% in that same decade!

What Buyers Want

The survey suggests that the most common service a buyer expects from their Realtor is helping them find the right home for them (55%).  The next most important item for their Realtor to understand is they want someone to negotiate the terms of the sale for them (13%).  The other top results are 7% want them to determine what comparable homes were selling for, 6% wanted help with the paperwork, 3% wanted help in determining how much home they can afford and another 3% stated that they want their Realtor to help them line up financing for them.

This was shared by first time and repeat buyers alike.  The only thing that differed was that repeat buyers didn't want the help as often as first time buyers in financing.

What is intriguing is that it was never stated that the role of their Realtor was to help them find the home they wanted.  With information on homes readily available to them at the finger tips and on their mobile devices, this makes sense.  What most Realtors will tell you is that those are great resources but their Realtors know and understand the current market, what features those homes have and have most likely been in the homes.

The Benefits to Having an Agent

Most consumers say that they benefit from their Realtor when they help them understand the process (61%).  First time home buyers were 81% of that statistic compared to 48% of repeat buyers, but it goes to show you that there is a lot to understand and become comfortable with in a short amount of time.

The value of a Realtor is ever more present today than it has been in decades.  With changes in the financing world each week and sometimes in each day, the ever changing environment of short sales and foreclosure properties and how to navigate those transactions the best way possible to local market knowledge and trends.  The home buying process is difficult but a professional to help you along the way seems to be what the majority is looking for.

What are the most important reason you want a Realtor to help you buy a home? I would love to hear why you used a Realtor and why you would or would not use them again?