Archive for the ‘Buying a home’ Category

Zestimate Guesstimate

Wednesday, October 22nd, 2014

MissedAccording to Zillow’s own research, Zillow’s median margin of error in Iowa is 5.8%. This doesn’t sound like much until one thinks through this statistic. The median, by definition, is that one half of the homes will sell outside the 5.8% range. What does this look like in practice? The average sales price of a home in Ames is approximately $200,000. Lets assume for example that Zilow’s Zestimate for a residential home is $200,000. According to Zillow, there is a 50% chance that the sales price will be between $188,400 and $211,600. The total range is $23,200. Conversely, Zillow acknowledges that their Zestimate has a 50% chance of being wrong by more than 5.8%. It is equally likely that the actual sales price might be outside their stated range. Therefore the actual sales price could easily be $185,000 as it might be $215,000? Who knows? We know!! What confidence can this Zestimate give a home seller or a home buyer? By Zillow’s own admission, this is precisely why a Hunziker & Associates Realtor is required. We know the market.

Home Prices Zoom up 10.5% Over Last Year

Wednesday, May 8th, 2013

HomePriceIndex

 

 

Nationally home prices in March were 10.5 percent higher than a year ago – and a bit more if distressed sales weren’t counted, says market researcher CoreLogic.

The overall change was the biggest year-over-year jump in seven years and the 13th straight month for home price gains.

Friday, January 11th, 2013

 

Trulia: Asking Prices Up 5.1% in 2012

Wednesday, January 9th, 2013

From Trulia….

“The Trulia Price Monitor and the Trulia Rent Monitor are the earliest leading indicators of how asking prices and rents are trending nationally and locally. They adjust for the changing mix of listed homes and therefore show what’s really happening to asking prices and rents. Because asking prices lead sales prices by approximately two or more months, the Monitors reveal trends before other price indexes do. With that, here’s the scoop on where prices and rents are headed…”

Read the article

Monday, December 17th, 2012

Source: http://www.desmoinesregister.com/article/20121216/BUSINESS/312160024/?odyssey=nav|head&gcheck=1&nclick_check=1

Monday, November 26th, 2012

 

Mortgage Rates Hit 3.34%

Friday, November 16th, 2012

Housing Starts at 4 Year High

Monday, October 22nd, 2012

From Bloomberg Businessweek

“Beginning home construction jumped last month to an 872,000 annual rate, the fastest since July 2008 and exceeding all forecasts in a Bloomberg survey of economists, Commerce Department figures showed today in Washington. An increase in building permits may mean the gains will be sustained.

“It’s no longer a question of whether the industry is rebounding,” Larry Sorsby, chief financial officer of Red Bank, New Jersey-based Hovnanian Enterprises Inc. (HOV), the best-performing homebuilding stock this year, said in a telephone interview today. “There is clear evidence that we have bounced off the bottom and are in the midst of a recovery.””

Read the article

CNNMoney: Forclosures fall to 5-year low

Wednesday, October 17th, 2012

From CNNMoney….

“NEW YORK (CNNMoney) — The wave of foreclosures hitting the nation’s housing market has been much less severe than anticipated, with foreclosure filings at their lowest level in five years last month, according to a report out Thursday.

Foreclosure filings — including default notices, scheduled auctions and bank repossessions — were reported on 180,427 properties in September, a 7% decline from August and down more than 16% from a year earlier, according to a report released Thursday by RealtyTrac, an online marketer of foreclosed properties. That’s the lowest number of filings since September 2007.”

Read the article

We sell homes for 1.3% more than our competition!

Friday, October 12th, 2012

Year to date stats for Ames…

  • Hunziker’s sales to original list price ratio is 96.4%
  • The entire Central Iowa MLS’s sales to original list price average is 95.6%
  • When Hunziker’s numbers are removed from the overall MLS, the Central Iowa MLS average sales price to original list price average drops to 95.1%.
  • 96.4% vs. 95.1%  HUGE Difference!

On average, listings at Hunziker & Associates are selling for 1.3% more than our competition!

Data source: Central Iowa Board of Realtors®