Real Estate Market. Thoughts?

[rockhound]

Actually zillow is not your friend at all.

As a buyer's agent i can tell you that zillow is often as much as two years behind the information, in addition they are losing their feeds from the mls and are not up to date, there is lawsuit
After lawsuit over their price estimations, trulia and zillow do not automatically get information on listings in colorado, the agent has to request the listing be shared. There are many listings that never go to zillow

I have seen home listed as sold that are not, homes for sale that are not, the listings that are incorrect are often using stolen information from agent websites, zillow has many lawsuits filed by large agencies that did not agree to share the information

If you are searching on line for homes Recolorado is a better resource as they are a direct consumer link to the Denver mls, metrolist

Better yet find a good buyer's agent and get the real story

Fat fingered from my phone

[Madeinhb]

Any updates on the real estate market?


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Still going up and will continue to. With our economy booming and people moving here, the demand is high. However, the inventory is extremely low.

[Great-Kazoo]

I've been hearing/ reading mostly the same thing.

Commercial real-estate vacancy was 2%, rentals 4%ish, unemployment in Douglas county 3.5%.

People who foreclosed a previous home were returning to the market slowly, but financing is still an issue. Especially for non-qm type people like myself who are independent.

What are you seeing Monkey?


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Guy we just picked up some livestock from said his neighbor put the FOR SALE sign out front Monday morn. As he's walking away guy pulls in ask how much. SOLD within the first 30 min. That's more the anomaly then most. In this part of town houses on small lots 3bd 2 bath 1.5 car garage NO HOA'S COVENANTS ETC. selling for $280 + 1 week sale / listing time, 2 tops.

[ChunkyMonkey]

I've been hearing/ reading mostly the same thing.

Commercial real-estate vacancy was 2%, rentals 4%ish, unemployment in Douglas county 3.5%.

People who foreclosed a previous home were returning to the market slowly, but financing is still an issue. Especially for non-qm type people like myself who are independent.

What are you seeing Monkey?


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Yeah (sigh) few members here who are using us can attest to this.

Don't forgot the west coast investors who have been waiting for this market are here in force.




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[ChunkyMonkey]

By the way, Zillow is your friend. It's kind of scary how they can compile information.

Zillow is outdated by a week. That's pretty bad when the market is going by the minutes.

Zillow zestimate is also off if the property is on certain area where compensating factor is a huge thing. Ie back into the highway, your 400k sits behind a million dollar subdivision etc etc.

It's a great tool but I have guys come up to me thinking they are experts because of zillow and got disappointed by their appraisal...

Fyi


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[Wulf202]

Zillow is just plain wrong in some cases. I can give you an adress and show 4 things that are completely off. I just looked up my rental...

[kidicarus13]

Anyone needs a home inspector, I'll hook you up. Multiple forum references to boot.

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I thought you were an advanced firearms instrustor.

[Firehaus]

Zillow should just be part of your search tools since the user interface is so easy to use.

I copy and paste the MLS # into recolorado.com for more accurate info. I'd use it more if it didn't suck so much on mobile!


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[Dave]

Another day of looking at houses, this time in Littleton. Most between Dry Creek and Arapahoe west of I-25 where 300k is getting you a 1 story ranch with 3 small bedrooms and 2ish bathrooms. The ones in this price range are all in need of some remodeling and updates like windows and doors. We're heading up to Westminster tomorrow to check the houses in the NW area. We are going through the Homes for Heroes program since we'll be using a VA loan and the lender and realtor give rebates towards the closing costs.

[kidicarus13]

I own two small businesses.

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