D

[DILLIGAF]

D

 

[Instigator]

What resources did you use to determine the value?

 

[shintoooo]

Yes it's up a lot, especially in the last year. I'm never going to sell it though. I have 15 years left to pay it off. My wife and I are 38 and our youngest one's will graduate high school in 6 years, so at that point we will rent this out and downgrade to a smaller house but a nicer area.

 

[RodnJen]

I look at mine now and again. I usually look at Redfin and Zillow. Historically Zillow was always high in my particular case and opinion. Currently, for whatever reason Redfin is higher. No matter, kids still in elementary school will keep me put for quite some time.

 

[Lunatic Fringe]

What resources did you use to determine the value?

I usually use the SWAG method.
Scientific Wild Assed Guess.


DILLIGAF may have a more accurate system.

 

[shintoooo]

I do have a rental in Lancaster that is going on the market soon. Just spoke with the realtor yesterday.

 

[River Lynchmob]

I know what mine's worth...went into escrow today.

 

[EmpirE231]

Values in socal are way up, and they are moving quick!

reminds me of...... :skull

 

[USMC2010]

We are way up in Havasu but Twentynine Palms, CA is still in the dump and doesn't look like it will ever come out. Someday I can sell that pig.

 

[Flying_Lavey]

Should be my house before memorial day and it just appraised at 320k I think that's pretty accurate.

 

[rivermobster]

Mine appraises low. Price per sq ft is pretty spot on, but I have way more options than that price reflects.

I could move outa CA and be sitting pretty. Maybe someday.

😊

 

[ChevelleSB406]

My condo is up 33% since my purchase 4 years ago, scary. Numbers are pretty accurate as you can just look at what the one 20 feet away that is the same model sold for last month. I am glad I got back in the market when I did as I have no clue how anyone on single income in OC can get in the market these days, well, it takes a strong income, but you know what I mean. I wish I had something with more backyard and neighbors farther away, but that shit ain't happening with what a full grown up ass house costs. :grumble:

 

[Deja_Vu]

We sold last June for a great price. Zillow and Redfin are showing little increase since then in Temecula.

But in Havasu, wow values are really going up according to some of these sites... 12% median sales price YOY

 

[2Driver]

and I know it is only worth what someone will actually pay you but......

WOO HOO!

lol

Shit....tempted to sell and finally hit the road with my beautiful wife, I know I won't but just knowing I can is very liberating in itself.

I needed some optimism today and it was just what the Doc ordered.

Anybody else check on their home price recently and been surprised?

Settle down there big fella, Zillow is just pulling comps from Desert Mt.

 

[Singleton]

I had my place appraised a month ago, came back very good. Paper money IMO, since I am not selling and no way in hell would I pay what the appraisal came back at for my place.

 

[Waterjunky]

I live in the middle of nowhere and have so few comps around that whenever someone sells they just take a Wag and throw it at the market. Some hit and stick and some fall off the wall with a splat.......

No real clue what I could get at the moment, I just know its more than I owe.......

 

[wsuwrhr]

I usually use the SWAG method.
Scientific Wild Assed Guess.


DILLIGAF may have a more accurate system.

FM or PFM principles

 

[Joker]

Our home value has gone up 800% since we bought in 95:thumbup:

 

[RiverDave]

I had my place appraised a month ago, came back very good. Paper money IMO, since I am not selling and no way in hell would I pay what the appraisal came back at for my place.

Kind of the same here..


I will say I look at zillow and it says my house is worth 395K. I see some of the houses Stacy and Paul are selling for 360's and 400's, and I think "zero chance I'd trade that for my house." I'm not sure what mine is worth, but I know what I'd ask for it.

RD

 

[boat527]

Too bad the consumer has begun to rely on Zillow for an estimate on the value of their home.. They are a marketing company, pure and simple.. NOT a Real Estate company.. Thats how they make money.. Selling ad space and pulling MLS and title feeds from 3rd party sources. Usually their numbers are 30 to 90 days old and roughly 65% of their listings are outdated or incorrect.

Currently they are under investigation by the CFPB, per online reports for RESPA violations:
http://www.housingwire.com/articles...vestigation-into-zillow-mean-for-the-industry

Then this from a Homeowner for a supposedly inaccurate " Zestimate" affecting the sale of her home:
http://www.chicagobusiness.com/real...ew-homeowner-sues-zillow-over-sloppy-estimate

 

[shintoooo]

I use zillow only to see what homes in my neighborhood are listed for and how much they ended up selling for and I use that information to come up with an estimate of what my house is worth based on the condition of the house etc...

 

[Sbarry]

I just completed the refi on our house for no other reason than to delete the PMI that we have been paying for the last year. I was pleasantly surprised to see a 28% increase in value, in just ONE YEAR!! Thank you, TRUMP!!

 

[NorCalRiverRat]

NorCal, mainly greater S.F. bay area is CRAZY prices right now. I expect to hear a loud bubble pop any day now. will/can I move ? just about anywhere. but I lived here to long so I'm staying.

 

[Willie B]

...Redfin says my Noho thousand square-footer is worth $460k up $10,000 from last month I know I sure as shit wouldn't pay that much for it...

 

[JD D05]

I listed my home here in Utah about a month ago. I am not ready to buy my next one but the market has been nuts and we want to take advantage. I can't believe someone would pay anywhere near what I am asking...Has not sold yet but did have a couple people try and have financing fall through.

 

[2Driver]

Actually....go drive thru and look at the houses people are putting up in our area. Big and BIGGER...lol One guy next to us bought the best view lot there and he bought two which total 6 acres. Gina talked to them and they are building a humongous house with all very high end products.

You might be surprised at what you see. Paved roads are also coming...its just a matter of time

let em build.....let em build....let em build

We've always liked TH. I hope its not becoming the Cali-Ode-to-me subdivision. Keep it under wraps. Thats why I like where im at. We need to grab a beer at your new hip TH spot .

 

[LargeOrangeFont]

My small house in South OC is going for stupid money. Others have sold in my area. Poor bastards are buying them, I can't understand why you'd want to do that, but with rent being so high, there is not really a better option.

The Havasu house has gone up nicely in 3.5 years. Glad I got in when I did.

 

[rvrrun]

I've never heard of Redfin, but I like their value better than zillow. There is a huge discrepancy between the two.

 

[DILLIGAF]

We've always liked TH. I hope its not becoming the Cali-Ode-to-me subdivision. Keep it under wraps. Thats why I like where im at. We need to grab a beer at your new hip TH spot .

Gina and I will cash out at some point and hit the road....just a matter of when the time is right. I like the quiet there

You know it really is time. When I get back there I will send ya a PM. Working my ass off in CA and all sorts of things going on out that way right now. Early June we are heading to Humbolt and staying in the redwoods for a week as I have a niece getting married. After that things start calming down hopefully and I can spend more time at home.

 

[460]

There are ton of houses around us selling like crazy. All are 600-800 sqft smaller and are selling for 220-240. I'm guessing our house is worth a good amount more then the 193 we paid. Patio extension, landscape and custom tile in one of the bathrooms probably helped that figure. Hopefully it helped.

 

[LargeOrangeFont]

There are ton of houses around us selling like crazy. All are 600-800 sqft smaller and are selling for 220-240. I'm guessing our house is worth a good amount more then the 193 we paid. Patio extension, landscape and custom tile in one of the bathrooms probably helped that figure. Hopefully it helped.

The Crying Jordan statue on the front lawn is not helping.

 

[460]

The Crying Jordan statue on the front lawn is not helping.

[emoji16][emoji16]

 

[Aaron]

Neither Redfin or Zillow are going to be accurate. They will be close but don't get too excited. I have been selling Real Estate in So Cal for 16 years and we are up for sure with no doubt about it and just about everything we put on the market sells quickly and if it's in good condition and priced right it usually gets multiple offers.
But slightly over market will have you sitting for a while.
We recently listed a home for $550,000 which was a bit over comps but there wasn't much for sale so we decided to push the envelope a bit.
Day before I put it on the market the Seller tells me Redfin says its worth $572,000 GOD knows where they came up with that number because I don't have a home within a mile that has sold for that with the same sqft.
Sellers always right so we put it up for sale at $572,000. A month later we are in escrow at $553,000 waiting on comps. I guess the moral of the story is reach out to a Realtor if you are looking for value. Most professionals will be happy to get you a quick market analysis if you tell them up front that is what you are looking for and not to actually sell.
If you are looking to sell I would say, get it done within the next 12-18 months. Pretty sure we will see rates go up and when they do so do payments and when those go up, prices go down.

 

[BHC Vic]

I'm up about 100k from when we bought. Look in at the comps though i could probably get more because everything for sale needs a full remodel which mine has already had. And I have a pool and rv parking. Only problem is if we do sell we will probably step up to something more exspensive so I'd put down more to keep the payment the same. We are looking but we aren't in any hurry. Dad retires in June and mom will work a few more years. I think we will look for something w a back house for my parents and at that point I guess my little brother will just take over the house in Phillips ranch(lucky bastard)

 

[Paul65k]

Neither Redfin or Zillow are going to be accurate. They will be close but don't get too excited. I have been selling Real Estate in So Cal for 16 years and we are up for sure with no doubt about it and just about everything we put on the market sells quickly and if it's in good condition and priced right it usually gets multiple offers.
But slightly over market will have you sitting for a while.
We recently listed a home for $550,000 which was a bit over comps but there wasn't much for sale so we decided to push the envelope a bit.
Day before I put it on the market the Seller tells me Redfin says its worth $572,000 GOD knows where they came up with that number because I don't have a home within a mile that has sold for that with the same sqft.
Sellers always right so we put it up for sale at $572,000. A month later we are in escrow at $553,000 waiting on comps. I guess the moral of the story is reach out to a Realtor if you are looking for value. Most professionals will be happy to get you a quick market analysis if you tell them up front that is what you are looking for and not to actually sell.
If you are looking to sell I would say, get it done within the next 12-18 months. Pretty sure we will see rates go up and when they do so do payments and when those go up, prices go down.

I use zillow only to see what homes in my neighborhood are listed for and how much they ended up selling for and I use that information to come up with an estimate of what my house is worth based on the condition of the house etc...

This is it guys^^^^......the only thing that matters is what comparable homes have actually SOLD FOR.......the operative word being "COMPARABLE"!!!

Zillow/Redfin and your uncle Charley have no way of knowing what is comparable. Zillow and Redfin can only rely on mathematical algorithms to determine their "Zestimates" and if you have made any improvements (or not) and or bought it more than 5 years ago it likely is inaccurate especially if you are in an area of mostly custom built homes as we are here in Havasu........if you live in a tract home where every 4th neighbor has your exact floor plan then it will be a little more accurate but not always.

You need a professional opinion of value which is exactly what lenders use when they loan money, I suggest you get a Broker opinion 1st and if the value is way off from what you think then pay for an appraisal because if you do happen to sell your home for an amount over market value most contracts (CA and AZ for sure) will have an "Appraisal contingency" clause that allows the buyer to renegotiate if the value is below the agreed sale price.

At the end of the day as DILLIGAF says a home is only worth what someone is willing to pay for it and if they are getting a loan, which most people do, then it's typically only worth what a lender is willing to loan based on an appraisal


If anyone would like an opinion of what your house is worth in Havasu please give me a call and I'll give you a Free Broker Opinion or call your local professional and they can tell you what it is actually worth:thumbsup:thumbsup

 

[rvrrun]

i Googled my address and went down the list (I stopped at 10) checking the estimates. There was a $250,000 difference between Zillow and Redfin, and the others were all over in between.

 

[Mandelon]

I think about it. Still need to gets the kids through college. Then we will likely cash out and downsize. Move to a fixer upper, rehab it then sell and do that every two or three years for a while. No tax on the gains up to $500K.

Like you Tom, we want to travel before we get too old! All the rentals have gone way up since we bought them, rents are up and vacancy rates are way low. At least in the affordable areas.

 

[rrrr]

Based on comps and other info our home's value has tripled since we bought it in 1997. We paid off the mortgage two years ago.

We plan to sell and move to a small town in two years, outside of Texas. When you're retired and income drops, the Texas property tax burden far outweighs living in a state with income tax.

Right now we're paying $5K in taxes, and that's with two 20% exemptions for homestead and disability.

 

[DaveC]

No. I can't afford the capital gain.

 

[wsuwrhr]

.

Dizamn.

 

[mbrown2]

Value is up...and that's great but we are not moving...pay it off, rent it, travel, build a flop apartment out back over the garage when we need our beach house fix.....

 

[coolchange]

I live in the house my dad bought new in 53 for $ 12,700.
Today, half a million....

 

[Willie B]

I live in the house my dad bought new in 53 for $ 12,700.
Today, half a million....

... I suppose that makes you a little more upscale than myself as I live in the house that my parents bought six years old in 1950 for $10,000 it's not quite worth a half a mill ...lol... while the interior is getting a cosmetic makeover and the house is empty of all furnishings I am living in my fifth wheel in the driveway ....if I get tired of that I can move out to the street where my Dodge ram diesel is with the 11 foot lance camper...or put the truck and camper on the front lawn and call it...Oklahoma meets North Hollywood...

 

[NorCalRiverRat]

My parents bought a lot and had the house built for them back in 1949 for $ 9,000 dollars ! today the whole neighborhood houses sell for a MILLION and a HALF + gotta love norcal.........

 

[SoCalDave]

Bought a house in La Palma in 2000 for $282k and sold it in 2013 for $645k.
Moved literally 2 miles away to Buena Park and paid $520k for a single level home. Today's estimated value is at $620k.

 

[coolchange]

... I suppose that makes you a little more upscale than myself as I live in the house that my parents bought six years old in 1950 for $10,000 it's not quite worth a half a mill ...lol... while the interior is getting a cosmetic makeover and the house is empty of all furnishings I am living in my fifth wheel in the driveway ....if I get tired of that I can move out to the street where my Dodge ram diesel is with the 11 foot lance camper...or put the truck and camper on the front lawn and call it...Oklahoma meets North Hollywood...

View attachment 562224

I know that hood. Keeps goin up. Burbank Studio city adjacent.!

 

[DaveC]

Damn it, you made me look. I should have bought the 28 Daytona instead

J/K....

 

[Willie B]

I know that hood. Keeps goin up. Burbank Studio city adjacent.!

... The Noho arts District it's getting closer and closer to me and I am discovering that there are a lot of young white yuppie couples moving into the hood ...Burbank Studio City and No Ho proper are unaffordable to them...
... sometimes things are so bizarre around here that the next-door neighbor who owns a cell phone store is in the process of a start up of a website called "in the hood" and every time you post a video and mention in the hood he sends you $10 who knows it might work ???..,

 

[bowtiejunkie]

I check Zillow often for what's sold and the zestime. Always the same result = we're screwed. Bought at the exact wrong time in the wrong place. Based on comps, we're still $60,000 under the 2006 purchase price. I can just about guarantee the home value won't get back to purchase price before the next housing slump. I could have bought a lot or house in Detroit in 2006 and had a better return on investment. :drink:drink