North Scottsdale Real Estate Market Report November 2012

North Scottsdale Real Estate Market Report November 2012

Hey, you know what we’d like to say to everyone out there, Happy Thanksgiving! I can’t believe the time has already come isn’t it crazy?

Absolutely crazy!

It is!

And the market’s also a little different this time of year, why don’t you tell us what’s happening?

(Jeff) Well, for October 2012’s market report we have active homes 17,700…

Pause the robots! Does anybody care about all that? Let’s just break it down in simple terms ok? We have about 2 ½ months of inventory still. That’s extremely low.  What’s normal inventory in a normal market?

Oh, about 3-5 months inventory so we’re riding low. And because of that we’ve seen prices rise over the past year 34%!

That’s correct, the average median list price is up 34% from this time last year. I’d say that’s a significant difference.

Yea, that’s a significant difference, but of course “Zillow” puts out their new “Zestimate” today talking about how the market is still indecisive of which way it’s going to go because there’s 54% according to their “Zestimates.”

Yea, they like to make it sound real scary. Well their number is 45.5% of people are still underwater in today’s market, using their “Zestimates,” that’s the key.

Let me show you what a “Zestimate” is…

This should be interesting…

Sometimes Zillow looks at your house and they go… (puts vase on table) “That’s your Zestimate.”

Sometimes they look at your house and they go… (puts different vase on table) “That’s your Zestimate!”

Mind you, you have the same house, and sometimes they go…(new vase on table) “This is your Zestimate.”

So then, the question becomes, which Zestimate is correct?

How do you know, Ashley, if you look at it your number is close or not?

Well, if you’ve been listening to us talk about Zillow, you’d know NONE of those answers are correct answers. When in effect your true value is more like this…(puts new container on table).

So, that’s how we’d like to think of Zestimates. Push those aside, because really, those numbers are just so inaccurate. It’s not a good source to use.

Well said Ash.

So you know what I have to say to Zillow?

Chew on them Twizzlers!

Click here to find out how we can help you with your home estimate.

 

 

Tags:

Exact matches only
Search in title
Search in content
Search in posts
Search in pages

Ready to talk? Call us today.

480-500-1738
  • #1 AZ Real Estate Team

  • Best REALTOR® In The Valley 2017

    - Nominee

    Finalists will be announced in October 2016

  • Top Ranked Real Estate Team

    - Phoenix Business Journal

    2015, 2016

  • Top 10 Buyer’s Agent

    - by Sales Volume

    Homes & Land Magazine 2015, 2016

  • Top 10 Producing Agent

    - by Sales Volume

    Homes & Land Magazine 2011, 2012, 2013, 2014, 2015

  • Top 1% of REALTORS®

    - in Maricopa County by Sales Volume

    Arizona Regional MLS 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016

  • Real Estate Agent of the Year

    - Finalist

    AZ Business Magazine – 2014

  • #1 Real Estate Team

    - in Arizona

    Ranking Arizona – 2014

  • #1 Agent by Sales Volume

    - in Arizona

    Realty One Group, North Scottsdale Office -2015, 2016 Realty One Group, Scottsdale Office - 2011, 2012, 2013, 2014 Realty One Group, National - April 2014

  • Gold Zone Award

    - in Arizona

    Realty One Group, National - 2014, 2015, 2016

  • Real Trends

    (National REALTOR® Rankings)

    Best Real Estate Agents in America 2014

See More
  • Date: 06/04/2018

    Source: Zillow

    Stacy has a complete grasp of the Scottsdale market. She understood our housing needs and never wasted our time showing us properties that we wouldn't - Read More

  • Date: 06/02/2018

    Source: Zillow

    Chris & Cheryl were easy to work with while we searched for Arizona homes on-line from California where we lived. We asked them about numerous - Read More

  • Date: 05/29/2018

    Source: Zillow

    This is the third time we worked with Jackie. She is always on top of the market and is always prepared to demonstrate her knowledge - Read More

  • Date: 05/26/2018

    Source: Zillow

    Wonderful experience working with Elise. She was knowledgeable, friendly and exceeded every expectation. She made the process fun and easy. Elise both sold our previous - Read More

  • Date: 05/10/2018

    Source: Zillow

    Ilene was amazing from start to finish in the home selling process. She sold the house before it even went on the market and for - Read More

See More