Big news came down the wire last week when it was announced that Zillow had acquired Trulia for $3.5 billion in stock options. While a lot of people may not see how this merger will directly impact their life, for home buyers or sellers, it’s always a good idea to understand the difference between “zestimates”—home value estimates taken from Zillow—or Automated Valuation Models (AVM) and real people. When it comes to AVM’s, they tend to work best on “cookie cutter” homes where most of the properties look relatively similar to one another. Therefore, it should come as no surprise that very few lenders rely solely on AVM’s for loan decisions since they can’t always accurately value unique properties such as those sitting on Lake Lanier, various upscale golf courses, and homes with a great deal of acreage. Therefore, the following is a list of things that an automated or non-appraiser valuation (such as the kind you would find on Zillow) Continue Reading
Cumming GA Real Estate
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