Thursday, January 12, 2012

Closed 800 E Maple in Western Springs

This home was listed for $252,000 and closed for $225,000. Home was built in 1942 and was being sold for lot value with no showings on the home. Lot 58.4x135x69.5x135

If you did not know about Zillow Zestimates and Realist RealAVM they are estimates of the value of your home based on information they received through taxes, sales, etc. They are not done by viewing the home and comparing it to other, recent sales.

For this particular home the RealAVM was $513,256 at the time of the sale. Zillow's Zestimate was $310,900 at the time of the closing, however, in October 2011(only 120 days ago) Zillow gave this home a Zestimate of $544,000. They lowered their value $82,100 in the last 30 days. I would guess this was based on the fact that this home had been listed for $252,000 and that number hit their computer generated estimates lowering it dramatically.

I believe if you are considering listing your home this year you should consult with me and we can compare all the recent sales, their condition, the competition that you will have at the real time of your sale. I can help you come up with a realistic asking price.

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