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Open Houses in Pass Area – Weekend of January 6th, 7th & 8th, 2017

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This weekend is really the first of 2017 open houses really get started for the year. Last weekend virtually nothing was scheduled. For a good reason too. New Year’s Eve and New Year’s Day was Saturday and Sunday, respectively.

Below is a list of open houses for select cities here in the Pass Area, including Redlands, Yucaipa, Banning, and Beaumont. To view the open houses scheduled for each city simply click on the marked link. Each page is updated regularly so if you’d like to bookmark them for future weekends they will be current then as well.

Happy house hunting!

Open Houses in Pass Area – Weekend of January 6th, 7th & 8th, 2017

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Yucaipa

Banning

Hemet

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Redlands

Calimesa

Moreno Valley

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Beaumont

Mentone

San Jacinto

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tel:888-766-8363

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Zestimate® or Guesstimate – Is Zillow’s Zestimate® Accurate?

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Expensive Homes in Beaumont and Banning CAI could argue for days about the accuracy of Zillow’s Zestimate®. And now that Zillow is buying Trulia for $3.5 billion dollars (Did they use the Zestimate® for this bloated price too?), I’m sure the Zestimate® conversation is going to heat up more than ever.

I am a real estate agent and pricing homes and real estate is at the core of what my partner and I do! Without proper pricing a gold-laden mansion could sit on the market for years, or a boarded up shack could sell in hours. PRICING A HOME IS EVERYTHING!

So yes, I do take it personally when Zillow values a home (automatically with a computer program, mind you) too low or too high and sellers or buyers believe that that automated valuation is more accurate than I am! But, I’m not writing this to defend myself. I’m writing this to give you the reader, cold hard facts!

Let’s play a game called Zestimate® or Guesstimate. The rules are simple, we will pull a recent sale of  a home, give you Zillow’s current Zestimate®, then reveal the actual selling price! If the percentage spread is good (meaning not too far from what the actual sales price is), I will give credit to Zillow for a successful valuation, if not, I will condemn the website for its inaccuracy. That doesn’t sound too harsh, right? 🙂 So let’s get started:

First Property:

1770 Ash Court, in Beaumont CA:

Zestimate®: $181,000

Actual Sale Price on 7/28/14: $193,000!

That’s over a 6% difference! More accurately: 6.22%

Survey Says! GUESSTIMATE – No, no Zillow. Bad Zillow!

Sorry, but a $12,000 difference is a big deal for a home that sold under 200k!

By the way, the agent originally priced the property at $196,000. I think they were more accurate.

Second property:

38220 High Ridge Road, in Beaumont CA:

Zestimate®: $269,000

Actual Sale Price on 7/29/14: $295,000

That’s almost a nine percent difference! Or more accurately 8.81%!

Survey Says! GUESSTIMATE – Nope, I’m sorry Zillow. You are inncorrect!

Nine percent is A BIG SPREAD. Too big.

Third Property:

This time let’s move to a different city, like Yucaipa, California.

13561 Canyon View Drive, in Yucaipa CA:

Zestimate®: $383,000

Actual Sale Price on 7/28/14: $402,500

Survey Says! ZESTIMATE® – Congratulations, Zillow! You’re right! Let’s move to the bonus round!

I have to be fair here. That’s only a 4.72% difference, but think about this: had the seller sold their property for the $383,000 Zestimate®, they would have lost $19,000! Oh, and the listing price did start at $383,000, but I’m sure a bidding war ensued with buyers that knew the true value of the property and drove that price up!

OK, one more property:

This one will be fun, and I will explain why below:

414 E. Stuart Ave in Redlands, California

Zestimate®: $175,000

Actual Sale Price on 7/28/14: $120,000!!!!

Survey Says! GUESSTIMATE!!! – Nooo, I’m sorry Zillow. That is incorrect, but thanks for playing! (I wish I could put that “Wa Wa Waaaaaa” game show sound effect here!)

Wow. Over a 31.4% difference?! Are you kidding me? $55,000 difference on a low 100k house? But here’s the reason why the house sold for 120k – The house is a completely dilapidated, run-down property. In fact, in the description the agent even says, and I quote “What you see is what you get!”

This one made me smile 🙂

But how did Zillow get it so wrong?

Simple.

How the hell is a computer program in Seattle, Washington (where Zillow is headquartered) supposed to know the condition of this house in Redlands, California? How is it supposed to know the condition of ANY house, ANYWHERE? Or a comparable house for that matter? It can’t. And until Zillow employs drones to peek into windows of houses across America, it won’t ever.

And I leave you with a quote from Zillow’s CEO Spencer Rascoff about the accuracy of Zillow’s Zestimate®:

Zillow’s Zestimate® has a 6.9 percent median error rate, and should be used as a starting point in determining a home’s value.

Well, I agree, Spencer Rascoff, the Zestimate® should be used as a STARTING POINT in determining a home’s value, but NOT as the ONLY determining factor, especially with a 7% median error rate. Do you think I believe that home sellers and buyers should avoid Zillow and the Zestimate®? No, of course I don’t! I believe the website can be used as a great tool in a real estate process, just as long as it’s not your only tool. But please remember when your professional real estate agent, REALTOR®, or real estate broker takes time and care to access your property, the comparables sales and other listings activity, conditions and local market trends, and comes to a valuation different from a computer calculation, it may be the computer program that is off, not your agent.

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This is interesting! Housing Inventory Numbers for East Inland Empire

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Obviously being in the real estate business we have our ears to the track of the housing market. We’ve speculated to ourselves and publicly via our websites and social media forums that 2013 would be a year of a “Seller’s Market”, with increased home prices and decreased inventory, or available homes for sale. And I apologize upfront for tooting our own horns, but we were right!

We’ve also declared that with an increase in interest rates, the doubt the government shutdown put into home buyer’s fears, along with more sellers coming to the realization that now is a great time to sell, that the seller’s market would cool at the conclusion of this year. We are already seeing this scenario playing out.

We decided to conduct a comparison statistical study of homes for sale by monthly inventory in the collective cities of Banning, Beaumont, Calimesa, Hemet, Moreno Valley, Redlands, San Jacinto and Yucaipa, also known as East Inland Empire and The Pass Area. We sampled this comparison from the year-to-date (from January 2013 to November 2013). We grouped it by month, and we also isolated standard sales, short sales, foreclosures and auction sales to highlight the change in the market. We then placed these findings into graphs to visually highlight where the East Inland Empire housing market has been and where its going!

Here’s the first graph, which includes all the cities mentioned: Banning, Beaumont, Calimesa, Hemet, Moreno Valley, Redlands, San Jacinto and Yucaipa, and includes all types of sales:

Months of Inventory - All Sales - Year to Date As of Nov. 2013
Months of Inventory – All Sales – Year to Date As of Nov. 2013

 

Time frame is from Jan 2013 to Nov 2013
City is one of ‘Banning’, ‘Beaumont’, ‘Calimesa’, ‘Hemet’, ‘Moreno Valley’, ‘Redlands’, ‘San Jacinto’, ‘Yucaipa’
Results calculated from approximately 10,000 listings

 

And here’s the graph reflecting standard sale listings only:

Months of Inventory - Standard Sales - Year to Date As of Nov. 2013
Months of Inventory – Standard Sales – Year to Date As of Nov. 2013

Time frame is from Jan 2013 to Nov 2013
SaleType is ‘Standard’
City is one of ‘Banning’, ‘Beaumont’, ‘Calimesa’, ‘Hemet’, ‘Moreno Valley’, ‘Redlands’, ‘San Jacinto’, ‘Yucaipa’
Results calculated from approximately 6,800 listings

 

And again, isolating only short sale listings:

Months of Inventory - Short Sales - Year to Date As of Nov. 2013
Months of Inventory – Short Sales – Year to Date As of Nov. 2013

Time frame is from Jan 2013 to Nov 2013
SaleType is one of ‘In Foreclosure’, ‘Notice Of Default’, ‘Short Pay / Subject To Lender’
City is one of ‘Banning’, ‘Beaumont’, ‘Calimesa’, ‘Hemet’, ‘Moreno Valley’, ‘Redlands’, ‘San Jacinto’, ‘Yucaipa’
Results calculated from approximately 2,400 listings

 

And once more with just foreclosures and auction sales:

Months of Inventory - Foreclosures and Auction Sales - Year to Date As of Nov. 2013
Months of Inventory – Foreclosures and Auction Sales – Year to Date As of Nov. 2013

Time frame is from Jan 2013 to Nov 2013
SaleType is one of ‘Real Estate Owned’, ‘Auction’
City is one of ‘Banning’, ‘Beaumont’, ‘Calimesa’, ‘Hemet’, ‘Moreno Valley’, ‘Redlands’, ‘San Jacinto’, ‘Yucaipa’
Results calculated from approximately 760 listings

As you can see, inventory gradually increases as 2013 progresses. We are clearly in a cooling period with home buyers, but we believe the cooling is only temporary. Why? Interest rates have already proven they can’t sustain their intermittent increase, the housing market usually goes through a slowdown during the holiday months, and we’re also are seeing rents exceeding the cost of owning a home.

So is it a good time to sell a house? It really depends on your goals and your particular situation. If you’re a buyer though, NOW is definitely a time to buy! Your competition is down and everyone else is busy with the holidays. Oh, and come the first of the year, expect a spike in buyers coming back into the market, and prices continuing to rise!

Would you like to speak with us about your specific situation? Just call us at (888) 9-List-It. That’s (888) 954-7848. Or just use the contact form below and we’ll get back to you as soon as possible:

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Yucaipa/Calimesa CA New Homes For Sale As Of August 21st, 2013

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Click Here for Yucaipa CA REALTORS

Here are all new home listings for sale in the Yucaipa/Calimesa area for today’s date of August 21st, 2013. These listings and data contained within are deemed reliable and provided by CRMLS Multiple Listing Service:

[idx-listing mlsnumber=”EV13169314″ showall=”true”]

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[idx-listing mlsnumber=”EV13169232″ showall=”true”]

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[idx-listing mlsnumber=”EV13064320″ showall=”true”]

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Yucaipa REALTORS

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Yucaipa REALTORS

Sell My California Home

When it comes to choosing a Yucaipa REALTOR, some may think its an easy decision, some may think its a hard decision, and some may not know either way. But being in the business for as long as we have and being successful in one of the toughest real estate markets this country has ever seen, we can give you a few tips on what to look for, what to ask and how to choose the right Yucaipa real estate agent.

First, find a Yucaipa real estate agent that has experience, not just years in the business. There are plenty of Yucaipa agents with many years in the business, but without actually working consistently in real estate. How many deals have they closed in the last couple years? Do they have experience in standard sales, short sales AND foreclosures? Have they been on the listing side and the buying side? Have they handled land sales or commercial sales?

These are good questions to ask. It also helps if they have experience in a specific area of expertise that you need. Do they know how to maximize a Yucaipa standard sale sales price? Do they know how to negotiate a Yucaipa short sale with banks and lenders?

Second, make sure you Yucaipa agent doesn’t have any complaints or disciplinary actions against them. There’s an easy way to do that. Just go to the California Department of Real Estate’s website, highlight Licensees on the top menu, and click on Verify a License, or just click here to go directly to their site. You can look up a Yucaipa REALTOR by name or license number.

Thirdly, talk to your potential Yucaipa real estate agent at length! Get a feel for them; do they make you comfortable? Do they strike you as honest and with your best interests at heart? This may seem like a obvious thing to do, but many Yucaipa home buyers and sellers get caught up in their own insecurities of real estate and ignore their gut. Go with your gut!

Not every Yucaipa agent that you don’t feel right about will be a bad agent, but usually your gut is spot on with making decisions like this. And at the very least you will be comfortable moving forward with them.

Lastly, make a list of things that are important to you! You and your situation are unique and your needs to be met based on what they are. But use this list as a guideline, not hard and fast rules. This way you are flexible in your decision in choosing that right agent for you, instead of playing hardball and insisting that an agent fits your ideas perfectly.

I hope this list helps you choose the right Yucaipa REALTOR for you, and if you’d like to interview us personally call us anytime!

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Call Now: (888) 9-List-It.

That’s (888) 954-7848.

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Or use our Quick Contact form below and we will get back to you ASAP:

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Yucaipa Short Sale Agent

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Yucaipa Short Sale Agent

 

If you’re Yucaipa home is under-water or you are having difficulty paying the mortgage, a Yucaipa short sale may be a great option for you. Yucaipa short sales are more and more prolific these days and many banks and lenders tend to approve a short sale as apposed to foreclosing.

  • Are you wondering about tax implications?
  • Are you concerned about the damage your credit will take from a Yucaipa short sale or foreclosure?
  • Are you wondering how a Yucaipa short sale will affect a future home purchase?

If you’re considering short selling your Yucaipa home you need information. Short sales can be complicated and tricky to negotiate. Don’t hire just any real estate agent. Hire the best Yucaipa short sale experts.

We have negotiated and sold numerous short sales and have a high success rate. Over 98% of all short sales we list successfully sell, and we protect our clients for the many pitfalls of a Yucaipa short sale. Don’t make the mistake many have by choosing the wrong Yucaipa REALTOR to handle your short sale.

Call us now and let’s talk about your unique situation:

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Call Now (888) 9-List-It.

That’s (888) 954-7848.

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Or use our Real Estate Short Sale Formula Below to see if you qualify:

Real Estate Short Sale Formula

We developed the Real Estate Short Sale Formula to help under-water and distressed homeowners determine their chances of pursuing a short sale.

The Real Estate Short Sale Formula has been tested over years of short sale transactions and can accurately predict your specific situation.

To submit your property to the Real Estate Short Sale Formula just fill out this form to the best of your ability (Please DO NOT provide sensitive information like Social security numbers, bank account numbers, etc.).

Be sure to include your email address so we can respond to your request and send you your free Real Estate Short Sale Formula evaluation:

  • Thank you!

    Click the Submit button below to begin your Real Estate Short Sale Formula evaluation. We will send our detailed report back to you via the email address you provided above within 24 hours.
  • This field is for validation purposes and should be left unchanged.

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