Zillow Zestimate … How accurate is it?

| Jason Burns

According to Zillow’s website: Zestimate There are discrepancies with accuracy of their estimates. After getting local comparisons from property in town and properties in the rural area just outside of town, Zillow had the same cost for two separate homes with similar square footage with 50 years difference in age. One example is as follows:  A […]

According to Zillow’s website: Zestimate

There are discrepancies with accuracy of their estimates. After getting local comparisons from property in town and properties in the rural area just outside of town, Zillow had the same cost for two separate homes with similar square footage with 50 years difference in age.

target dartOne example is as follows:  A Zillow Estimate for an older home (built in 1952) in the rural area was similar in price to a homes in newer developments closer to the city.  Newer homes were built in 2000s and 1990’s and more than 10 miles from the older home.  The 1952 home was closer to dairies, 10 miles away from supermarkets and shopping centers, movie theaters, fast food/fast casual/sit down restaurants, high schools, churches, parks, public services, and other amenities. The living area of the home was similar in size around 1600 square feet. The main difference was age and location. How can the 1952 home be the same price of the 2002 home? The 1952 home has a swamp cooler only, never been remodeled after the 1980’s, no major structural upgrades, appliance changes through the years, have the same zestimate of homes built in the 2000’s.

If Zillow’s main estimates are based on size of the home (floor area), then the estimated home value is off. Zestimate was not based on a walk-through of the home to verify existing conditions and check on the quality of the home. Did the comparisons have working heating and cooling systems?… hard woof flooring vs. linoleum or vinyl tile?… a dated kitchen of the 1970’s or a 2012 remodeled and upgraded kitchen?….A ready to move-in home or a fixer upper with twice the cost to repair the purchase price of the home?…and so on…

If you are thinking about selling your home, contact a local real estate agent or real estate appraiser familiar with the area to get a more realistic estimated value of your home.  Instead of being more than 25% off the possible listing/selling price, get at least within 2.5% by contacting a Realtor.Zestimate states

Home Buying Financing Options / Real Estate Financial Services, Inc.

| Jason Burns

HOME BUYING FINANCE OPTIONS **FHA Down Payment Assistance – with 620 or better Mid Fico. **FHA Loans – with 550 or better Mid Fico. **ITIN Program – Up To 80% LTV, 30yr Fix Loan, Full Doc Only, 43% DTI, & 2 months of PITI requested for closing **No Income Doc Investor Cash Flow – Qualified solely on Rental Income, 660 Mid Fico, Purchase […]

HOME BUYING FINANCE OPTIONS

**FHA Down Payment Assistance – with 620 or better Mid Fico.

**FHA Loans – with 550 or better Mid Fico.

**ITIN Program – Up To 80% LTV, 30yr Fix Loan, Full Doc Only, 43% DTI, & 2 months of PITI requested for closing

**No Income Doc Investor Cash Flow – Qualified solely on Rental Income, 660 Mid Fico, Purchase 75% LTV & Cash Out 65% LTV, SFR,Condos, & 1-4 Units, Loan Amount up to 1million

**Foreign National Program – Up to 75% LTV, Full Doc, Occupancy Primary/2nd Home/Investment, 5 year Balloon with no PrePay, Down Payment must be in the country for 30 days mininum.

**Second Chance Program – Up to 90% LTV, Full Doc, 43% DTI, Bankruptcy/Foreclosure/Short Sales are OK, Need 2 Months of PITI Post Closing.

**FHA Repair Escrow (HUD REO)– Up to $5,000.00 with 640 Mid Fico.

**LP/Freddie Mac vs FNMA – We find the best program that fits your client’s needs

**HUD Section 184 Loans (Native Americans)– Down lower then FHA,

No Monthly Mortgage Insurance, Low Interest Rates, Fix Loans, Credit Scores Not Used (Tribal Card-Registered)

**USDA and VA Programs – 0% Down and NO MI!!!  620 Fico Score.

**LPMI to 97% LTV – Great alternative for FHA Buyers. One Loan with NO Mortgage Insurance.  660 Mid Fico Score

**Credit Assistance Evaluation– Helping Future Home Owners become Borrowers


FOR FURTHER INFORMATION AND TO FIND OUT HOW MUCH HOME YOU CAN AFFORD, CONTACT:

Rolando Valverde

Senior Loan Officer

Fluent in Spanish

DRE#01349277

NMLS#303346

Real Estate Financial Services, Inc.

800.732.5414, Processing

415.377.3330, Cell

209.839.8930, Direct

209.836.8655, FAX

rolando.valverde@rwnc.net

www.rwloan.com

BROKER AND BUSINESS OPEN HOUSE SATURDAY 8/22 FROM 11AM TO 2PM – 1950 E DIVISADERO ST, FRESNO CA 93701

| Jason Burns

BROKER AND BUSINESS OPEN HOUSE 1950 E DIVISADERO ST, FRESNO CA 93701 SATURDAY, AUGUST 22 – 11AM TO 2PM THIS PROPERTY IS CONSISTS OF 2 PARCELS: 1 RESTAURANT BUILDING (1950 E DIVISADERO ST) AND 1 HOUSE (2703 TUOLUMNE ST) IN THE HEART OF DOWNTOWN FRESNO. THE HOME IS 840 SF AND THE RESTAURANT IS 1494 […]

BROKER AND BUSINESS OPEN HOUSE

1950 E DIVISADERO ST, FRESNO CA 93701

SATURDAY, AUGUST 22 – 11AM TO 2PM

DSC02649

THIS PROPERTY IS CONSISTS OF 2 PARCELS:

1 RESTAURANT BUILDING (1950 E DIVISADERO ST) AND 1 HOUSE (2703 TUOLUMNE ST) IN THE HEART OF DOWNTOWN FRESNO.

THE HOME IS 840 SF AND THE RESTAURANT IS 1494 SF. BOTH ARE LISTED AT $259,900.

THE RESTAURANT WHICH INCLUDES A PREP AREA, SERVICE AREA, RESTROOM, UPSTAIRS STORAGE, STAND UP 2-DOOR COOLER, ICE MAKER, 3-COMPARTMENT SINK,  AND OTHER KITCHEN APPLIANCES IS FOR LEASE AND THE ASKING IS $1350/MONTH.

DAILY POPULATION IS OVER 40,000 WITHIN A 3-MILE RADIUS.

 

EMAIL PHOTO 4

THE HOME WAS REMODELED IN THE 1990’S AND IS IN GOOD CONDITION.

EMAIL PHOTO 2

THE RESTAURANT HAD PREVIOUS SANDWICH SHOPS. IT DOES HAVE EXISTING FOOD SERVICE EQUIPMENT AVAILABLE, BUT THERE IS NO COOKING EQUIPMENT.

 

 

 

FREE HOME BUYING SEMINAR/WORKSHOP IN FRESNO

| Jason Burns

DATE: June 23, 2015 TIME: 6:00 p.m. PLACE: Sal’s Mexican Restaurant (Banquet Room) ADDRESS:  7476 N. Fresno St. LEARN ABOUT HOW TO PURCHASE YOUR FIRST …  OR FIFTH HOME Some of the items that will be covered are: Preparing for the Purchase Financing and Credit Home Buyer Programs Pre-Qualifying Purchasing Contingencies Title and Escrow And […]

DATE: June 23, 2015

TIME: 6:00 p.m.

PLACE: Sal’s Mexican Restaurant (Banquet Room)

ADDRESS:  7476 N. Fresno St.

LEARN ABOUT HOW TO PURCHASE YOUR FIRST …  OR FIFTH HOME

Some of the items that will be covered are:

  • Preparing for the Purchase
  • Financing and Credit
  • Home Buyer Programs
  • Pre-Qualifying
  • Purchasing
  • Contingencies
  • Title and Escrow
  • And More

RSVP with Me, Jason J. Burns at (559) 930-9989 phone or text, or email jasonjburns@yahoo.com.

Home Buyer Workshop-Seminar Flyer

 

 

Hi I’m Jason J. Burns, Contact Me If you plan to buy or sell

| Jason Burns

Imran Poladi came by last month and introduces me in a video. Give me a call for a free home selling or home buying consultation. I would love the opportunity to provide you real estate service. Jason J. Burns, Realty World Real Estate Professionals

Imran Poladi came by last month and introduces me in a video.

Give me a call for a free home selling or home buying consultation.

I would love the opportunity to provide you real estate service.

Jason J. Burns, Realty World Real Estate Professionals