The Boca Buzz Blog

Why Your Computer/Smart-Phone is Wrong

What a great piece by Gabe Sanders on why real estate smart phone apps and websites aren't always so smart.  He makes some great points about what these apps don't take into account.

Why Your Computer/Smart-Phone is Wrong

 Automated valuations

I’ve had a number of customers quoting me their opinions of market values of homes of late as a result of their research based on automatic online services and/or their phone apps.  Typically when I explain the factors involved in determining true market value, I can show why these numbers are sometimes misleading.  Unfortunately, it appears that some consumers just want to believe what they think benefits their positions, regardless of what the facts are.

Here are two quick examples:

The first:  A fairly new subdivision, waterfront with dock (though a long way from the Ocean).   The home is priced at $625,000.  The client questions the value when a similar home next door sold a few months ago for $400,000.  He wants to offer $400,000.   A little further investigation shows recent sales in the neighborhood range from $550,000 to $675,000 sales prices.  Depending on size, lot view and the quality of the water access.  The home, the customer pointed out as having sold for $400,000 was a foreclosure that was bought on the court house steps.   Whether there were any outstanding liens, condition issues, etc., I have no knowledge of as that home still sits empty and there could very well be undisclosed issues that were involved in this sale.

The second:  Also in a newer neighborhood near downtown Stuart; townhome style homes.  The home in question is listed at $360,000. Similar, adjoining homes on either side show sales in the past year at approximately $200,000, according to Zillow.  Mr. Buyer says, this home is only worth $200,000.  Now the real story is that this subdivision has been identified as having defective drywall.  Both of the above sales were distressed sales to investors that are currently doing the work to remediate the drywall issue.  The home that is currently listed has been remediated.  Seller claims that over $100,000 has been spent on the fix.

In the two examples above, neither customer was swayed by the facts and continue to look for their elusive on line computer based bargain.

These two examples are fairly straightforward examples of why any computer valuation can be and very often is lacking.  This is why knowledge of the local market is so important.  So if one is looking to make an educated real estate decision on Florida’s Treasure Coast, give me a call.


Why Your Computer/Smart-Phone is Wrong

 

Gabe Sanders; Stuart Florida Real Estate
MLS Search - Martin County FloridaMLS Map Search for Martin County FloridaGabe Sanders Real EstateGabe Sanders; Our ListingsVisit our web site

          Get Connected to The Tublitz Advantage
Email Me!  Tublitz Website  Tublitz FaceBook  Tublitz LinkedIn  Tublitz Twitter  Tublitz Boca Buzz Blog  Tublitz ActiveRain   

Comment balloon 2 commentsDan & Linda Tublitz • August 15 2012 12:53PM
Why Your Computer/Smart-Phone is Wrong
share
What a great piece by Gabe Sanders on why real estate smart phone apps and websites aren't always so smart. He makes some great points about what these apps don't take into account. Why Your Computer/Smart-Phone is Wrong I’ve had a… more
Back to School for Country Landings and Loggers' Run!
share
Palm Beach County School Begins In One Week! August 20th is around the corner! The first day of school for Country Landing I, Country Landing II and Country Landing III is just one week away! Can you believe how quickly the summer… more
Back to School for Canyon Isles, Lakes, Springs & Trails!
share
Palm Beach County School Begins In One Week! August 20th is around the corner! The first day of school for Canyon Isles, Canyon Lakes, Canyon Springs and Canyon Trails is just one week away! Can you believe how quickly the summer flew… more
Football = Real Estate??
share
~ Here We Go Dolphins, Here We Go! ~ Ok, so you may not be a “DolFan”, but here in south Florida tonight marks the night of the Dolphins preseason opener game at Dolphins Stadium. That means football season is just around the… more
August, RE/MAX's Month of Miracles!
share
If you or someone you know is considering a move, now is a great time to make an investment in a our market and our children. For every house we sell, a donation is made to The Children’s Miracle Network. I hope you'll help us make the "Month… more
Tropical Storm Ernesto - If A Hurricane Hits, Are You Prepared?
share
If you would like to reach us to take a tour of nearby neighborhood and visit nearby amenities, Call Dan and Linda Tublitz at 561-289-0289 or email your questions to TheTublitz Advantage Tropical Storm Ernesto Reminds Us… If A Hurricane Hits,… more
A Day in the Life of a Country Landing Canine
share
If you would like to reach us to take a tour of the neighborhood and visit nearby amenities, Call Dan and Linda Tublitz at 561-289-0289 or email your questions to TheTublitz Advantage ~ The Dog Days of Summer ~ A Day in the Life of a Country… more
A Day in the Life of a Canyon Lakes Canine
share
If you would like to reach us to take a tour of the neighborhood and visit nearby amenities, Call Dan and Linda Tublitz at 561-289-0289 or email your questions to TheTublitz Advantage ~ The Dog Days of Summer ~ A Day in the Life of a Canyon Canine… more
Delray Marketplace, A New Destination in Delray Beach
share
~ Delray Marketplace ~ Delray Beach’s Newest Shopping & Dining Destination! In just over three months Delray Beach will have a fabulous new shopping and dining destination - Delray Marketplace. The new shopping center will be located on… more
The New Charter School for the Canyons of Boynton Beach is APPROVED!
share
If you would like to reach us to take a tour of the neighborhood and visit nearby amenities, Call Dan and Linda Tublitz at 561-289-0289 or email your questions to TheTublitz Advantage Canyon Isles, Canyon Lakes, Canyon Springs & Canyon… more