Wednesday, April 10, 2013

“Real Estate Markets and the internet”
Matthew Seely

I’m currently a licensed Realtor here in Fresno. So I have direct access to the MLS (multiple listing service) here in Fresno and surrounding areas. I wanted to look into what type of information my clients would be getting from the error net. I find that alot people are all over the place when it comes to Values. I wanted to know where this information was coming from. If I know where this information comes from it will help me clear up any inaccuracy. there is a lot of information out there that is just not accurate. By doing this little compairison I hope to show why people need to licenced realtors, so they can get the most accurate information avliable.

I when I do a search for “Homes for sale in Fresno” the first two websites that come up (That are not paid ads) are Zillow and Trulia, both of these sites will help people with getting some of the sales and value information.  The major problem with this is that the homes may not be comparable, meaning that they may be bigger in square footage or have a bigger lot, more garaged spaces; there could be a big list of why they would not be comprable. Let’s do a little test to see where we’re going to be at. I will do a CMA (Comparative Market Analysis) using the MLS and then we will use the other web sites to compare what we come up with.

For this CMA we will use one of the listings on the market.
Address: 961 N Safford Ave, Fresno, CA 93728
Listing Price: 110,000

MLS Price: I would have to say that this listing is on the high side depending on what the client wanted to do with the property. The information that I gathered from the MLS; High price for the sold homes in the area is 118,000, the Median is 91,500 the low is 61,846. That being said I would really have to look at the property to make sure that it’s in the condition that could justify that price. I would say if someone wanted to live in this property we may try and offer a little less but overall think that it’s a fair price.
According to Zillow the property is not for sale. The information that they have on the property looks like it matches what the tax records show (Ex. The property square footage, lot size, year built and bedroom/bathrooms.) The big problem is that according to Zillow they are saying that their “Zestimate is 75,339” I think that this evaluation is way off.  I think at the conservative level it should be at 99,000 to 100,000 in the low, low range, given the comps and condition.
Website did things a little differently than Zillow, but there information was up to date. When I put in the address, the listing did come up. They show the listing price and the same pictures that are on the MLS listing. As far as any type of property evaluation in my opinion they are using informative but to broad set of data. They are using three types; the Fresno High area 100,000, 93728 zip code 78,500 and Fresno average price at 154,000. So this gives people an idea what the market is doing compared to the home, but they are not giving accurate data around the house it’s self. which is more important when you are looking at one particular property.If we just looked at the zip code data people would think that this house way over priced.
            As we can see by the data, that without a Realtor, it’s hard for people to get accurate data for properties. There are a few other web sites that I like people to use for their property searches. The first one is I have found that this site has the most up to date information about listings. This is because the website was created by the association of Realtors. This means that the data and information is good information. gives a lot of information about buying and selling homes as well, not just listings. 
            With all the data that is out there we have to make sure that we get the most correct information that we can for our clients. That’s why it’s so important to use a Realtor when you’re thinking about buying or selling a home.  I know where it the bad information comes from now I can help stop it so my clients don’t become misinformed. I think sometimes it’s better to have no information rather than bad information when it comes to Real Estate.
Matthew Seely

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D Siler Solutions 2013
MLS CMA provided by Matthew M Seely, Lic# 01433903 / D Siler Solutions Lic # 01908055
 Phone 559-349-3290

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