 81399672Premium
join:2006-05-17
Los Angeles, CA
kudos:2 | reply to dogma
Re: Home Values going down the toliet? reply is totally wrong, no question about it. Prices do not make any sense
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i am not a lawyer but I do play one on tv |
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 ksw_92
join:2001-05-13
La Verne, CA | Zillow's (or any other service) problem with LA County is that the recorder's office is pretty opaque as compared to other counties. This means that sometimes data is late or is binned wrong (like refis that show as sales). Also, since sales have slowed significantly the data points (comps) are more volatile which makes them throw out a lot of data since I think they groom outliers from their estimates right now. They're going to need to change their data models now that we're moving into a market that will generate less data and be more volatile.
In the end, the value of your home is determined by what someone (loan officer or cash buyer) will give you for it. Anything else is just a guess based on point-in-time data. |
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 FutureMonIs voting for ObamaPremium,ExMod 2002-05
join:2000-10-05
Long Beach, CA
1 edit | said by ksw_92:In the end, the value of your home is determined by what someone (loan officer or cash buyer) will give you for it. Anything else is just a guess based on point-in-time data. As a potential seller, that's what I like to hear. Because my property is unique enough that the right buyer who appreciates the qualities it has (I believe) would pay a premium to get. Lot offers privacy, nice view of valley, neighbors homes are about 100 feet away on both sides (below me) and no one behind me. Definately not your typical "cookie cutter" property.
For Refinancing, though, that kinda sucks.
- FM
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Undisputed BBR Karaoke Champion! Care to challenge me? |
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