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Do YOU Trust a Computer-Generated Home Valuation?

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Zillow. They have their Zestimates. I just recently did a Google search for a particular address that gave me two different Zillow results. One showed the home listed for sale, which I know is true, and another shows the home as NOT FOR SALE. But with their Zestimate, or Guesstimate, er, whatever……. at $50,000 OVER what the home is currently listed at! For this particular house their computer-generated value is almost a 20% DIFFERENCE to what the home can actually command!

That is just not dependable. Are you’re really supposed to trust their automated values? Would you stop there and attempt to sell your house at their random guesses prices?

If I was selling my home, I wouldn’t trust a Zestimate, or any other automated valuation. I would ask a professional to prepare a value report for me. And if I didn’t feel great about what they said, I’d get a second opinion, just like I would with doctors, auto mechanics, contractors, etc..!

Are you selling your home, or thinking about it? Don’t trust Johnny 5! He may be alive, but he knows nothing about the housing market and what your home is worth! Get a professional REAL HOME VALUE report from one of our Agents On-Demand! All For FREE, with no obligation:

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Find the Property Taxes for Any Riverside County Home

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Are you looking for your real estate tax bill on your home or property? Maybe you are buying a home in Riverside County and would like to look up what the assessed property taxes are on the home. Here’s a great resource for anyone interested in the property taxes of any home or property in the County of Riverside, California:

RIVERSIDE COUNTY TREASURER-TAX COLLECTOR

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Wanna Buy Real Estate in Dubai? Break Out Your Bitcoins!

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I don’t own any Bitcoins. It’s about as speculative as it gets as far as investments are concerned IMHO. But a developer is building a beautiful new building in Dubai willing to sell you an apartment with Bitcoins, or cash. Whichever you prefer! Let me know how you want us to write up your offer! 🙂 Check out the available units here!

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Does Your Real Estate Broker Opt-IN or Opt-OUT of Zillow?

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Does your broker opt-in? Or do they opt-out of Zillow? Many that just started reading this have no idea what I’m talking about, but whether you’re a home seller or a REALTOR®, you best believe your broker knows if they opt-in or out of Zillow! But you as an agent, or you the home seller, definitely NEED TO KNOW either way!

Opt-In or Opt-Out of Zillow… For What???

Recently the Zillow Group, which includes Zillow and Trulia, announced it will no longer allow real estate agents to manually enter a listing into Zillow and Trulia. This poses a few questions. First off, what exactly does entering a listing directly into Zillow (and Trulia) do?

In the recent past, if an agent worked for a broker that did not allow the brokerage’s listings to populate into Zillow’s database, the agent could manually enter the listing for extra exposure or if it was important to their sellers.

Everyone knows Zillow is the big gorilla in the real estate market. Where it goes, so do a lot of real estate industry trends. Not having your listing on Zillow meant you were missing valuable exposure. This is important to a home seller for obvious reasons. The more buyers that are interested in a home, the more money it can demand. Simple, right?! RIGHT!

But for a REALTOR® the motivation could go either way. An agent may prefer to have their listing on Zillow to sell the property quicker, get a higher sales price, and even attract buyers as new clients interested in the home. But the other side of that coin though is some agents may prefer NOT to have the listing on Zillow.

The agent may feel the home is in a coveted neighborhood and already has a built-in buyer pool they can market to and take advantage of. If they end up representing the buyer as well, they can double-end the deal and make twice as much in commissions! Or maybe they know the price is aggressive and buyers will fight over the listing, and again the agent can attract potential buyer clients and/or double-end the sale.

But Now Zillow Has Removed That Choice

As stated above, Zillow is the big gorilla in the room and it gets to do what it wants. For years now Zillow has smartly allowed agents to include their listings manually. But Zillow has grown exponentially since, and this new policy forces the hands of all the real estate brokers that have up to this point refused to allow their listings to populate to Zillow. Zillow has become so integral in the real estate industry now, that opting-out is greedy and selfish on the part of the broker. It’s also now bad business….

Let’s play make believe. Say you are a real estate agent at a listing appointment:

Seller: If I sell my house with you, will my listing be on Zillow?

You: No. My broker opts-out of Zillow listings and does not allow it.

Seller: How does that help my bottom line?

You: ….silence….

Its not advantageous to the seller to sell with an agent if the broker doesn’t allow their listings on Zillow. And now, agents can’t manually include their listings when their broker opts-out. Its an all or nothing scenario.

Its now not advantageous to an agent either because they can lose listings specifically because their broker opted-out of Zillow and Trulia! So beginning in May 2017, Zillow and Trulia will ONLY accept listings through direct MLS or brokerage feeds. Agents WILL NOT be able to post listings directly to Zillow independently of their MLS or brokerage.

This does not affect For Sale By Owners (FSBO’s). All MLS syndication preferences are managed at the brokerage level only. And once opted-in, a real estate broker can also control whether or not their agents have a choice regarding their own syndication preferences.

So, does your broker opt-in or opt-out of Zillow? Your answer to that question can have a serious affect on your home sale! AND the price it sells for. Oh and by the way, yes, we ALWAYS opt-in here at Garrigus Real Estate!

-Todd J Garrigus Broker, Garrigus Real Estate

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How Long Do I Have to Wait to Buy a House After a Short Sale, Foreclosure, or Bankruptcy?

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Have you previously lost a home to foreclosure? Have you sold a home using a short sale? If you’ve been through a financial hardship like a short sale, foreclosure, bankruptcy, deed in lieu of foreclosure, this article will help you determine how long you must wait to re-enter the home buying mortgage markets.

The graph below is provided by Cory Dressel of AmeriFirst Financial, and the time-frames and regulations listed may be specific to AmeriFirst Financial. But this graph can be a useful tool for you if you’ve already previously lost a home to foreclosure or short sold a home, and you’re wondering what type of time-frames mortgage lenders require before you can be considered for another mortgage.

This could also be useful if you are considering a short sale but want to know how long it will affect your home buying abilities. This graph is also downloadable and printable for your convenience (see clickable link below):

Provided By:

Garrigus Real Estate

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Click Here to Download:

Waiting Periods to Buy Home After Short Sale, Foreclosure, Bankruptcy

Or View Full Table Below:

"LOAN TYPE"FORECLOSURESHORT SALE / DEED IN LIEUCHAPTER 7 BANKRUPTCYCHAPTER 13 BANKRUPTCY
CONVENTIONAL7 years from completion date / 3 years with extenuating circumstances
(90% Max LTV, purchase of primary or rate and term all occupancy types)		4 years from completion date / 2 years with extenuating circumstances4 years from discharge date / 2 years with extenuating circumstances4 years from dismissal date / 2 years from discharge date / 2 years from dismissal date with extenuating circumstances
FHA3 years from completion date / 1 year with extenuating circumstances3 years from completion date / Can re-enter market if short sale is sold with NO mortgage delinquencies 1 year with extenuating circumstances2 years from discharge date / 1 year with extenuating circumstances1 year of the payout must elapse & payment performance must be satisfactory / Buyer must receive permission from the court to enter into mortgage
VA2 years from completion daate / 1 year with extenuating circumstances2 years from completion date / Can immediately re-enter market if short sale is sold with NO mortgage delinquencies / 1 year with extenuating circumstances2 years from discharge date / 1 year with extenuating circumstances1 year of the payout must elapse & payment performance must be satisfactory / Buyer must receive permission from the court to enter into mortgage
USDA3 years from completion date / 1 year with extenuating circumstances3 years from completion date / 1 year with extenuating circumstances3 years from discharge date / 1 year with extenuating circumstances1 year payout has elapsed & payment performance is satisfactory. Written permission from Trustee or automated underwriting approval

Are you wondering:

  • How long do I have to wait to buy a house after a short sale?
  • How long do I have to wait to buy a house after foreclosure?
  • How long do I have to wait to buy a house after filing bankruptcy?
  • Can I buy a house after chapter 7 and foreclosure?
  • How long do I have to wait to buy a house after filing chapter 13?
  • About buying a house after chapter 7 discharge?
  • How to buy a house after bankruptcy, short sale or foreclosure.

If you’re wondering how long you need to wait to buy a home after a short sale, foreclosure or bankruptcy, this one-sheet resource that you can download and/or print can help you determine where you are at in your process. And feel free to call or contact us if you have any questions about your particular situation. We also can help you short sell your home if you are facing foreclosure or a short sale:

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Let’s Celebrate Earth Day with Trash!

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Hey Southern California, I love ya! But you already knew that, didn’t you? You are my small slice of paradise on a beautiful planet that is unique in all the vastness of the Universe, at least based on humanity’s limited knowledge. You are a part of the only known planet in all the cosmos with oceans of Dihydrogen Monoxide, also known as life-sustaining water!

But our planet is wonderful even beyond H2O, which I’ve been known to enjoy a glass of every once in a while. Your planet also has vast forests, trees and plants of all colors, shapes and sizes. Your planet’s animals vary so much that it boggles my mind with billions of insects that are truly wonderful, although somewhat annoying at times! It also harbors birds that soar through the air with ease, creatures that burrow underground, killer animals like sharks and tigers, and even wonderful loving animals like dogs, cats, and other domesticated pets. And this is only a small list of the wonderful things Planet Earth has provided!

So, Southern California, I dedicate myself and ask others to join me in celebrating Earth Day today, April 22nd, 2017. I will commemorate the day and recognize the awesomeness of our Third Rock from the Sun by picking up trash whenever I can, where ever I can. I have a pretty busy day today, but keeping an eye out and simply bending over and picking up a piece of trash when I see it seems like a small sacrifice for our little Space Blueberry. I actually started yesterday when I walked to pick my kids up from school. I ended up with three pieces of trash that everyone else just walked passed!

But there are other things I can do to help clean up just a bit. Here’s my quick list. I encourage you to do a few of these suggestions too, or create your own if you like. As long as it helps clean up our home, even if it’s on a small scale, it matters:

  • Pick up trash from around my neighborhood
  • Strike up a conversation with my kids about not littering
  • Plant a tree, bush, or something else green
  • Make sure my lawn mower runs efficiently to lower it’s emissions
  • Fix any leaky faucets in or around my home
  • Walk when I can instead of driving
  • Pull the weeds around our house by hand instead of using herbicides
  • Find more things to include in the recycle bin instead of the trash can
  • Try to re-home unwanted items instead of throwing them away
  • Stop pouring oil down the storm drain (Just kidding! I’ve never done that! 🙂 )

So that’s my list, and that’s my pitch. We don’t have to do things that change the world on a global scale, but it would be nice to clean up where we live, even just a little. After all, it’s our home!

-Todd J Garrigus Broker, Garrigus Real Estate

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