We know Zestimates aren’t exactly accurate, but new real estate investors rely on those numbers all too often.
Zillow states on its website that it is a “useful starting point” to assist home-buyers with valuing real estate properties. Some real estate investors say that though Zillow is indeed a data resource, it can mislead investors about the real value.
A recent survey by Visio Lending found that real estate investors are optimistic about the next year of investing.
With home prices rising and foreclosures decreasing, investors are adjusting their strategies for buying investment properties by searching further from home and at higher price brackets, the survey revealed.
Of the nearly 700 respondents, 34 percent said they are broadening their searches for properties outside their home states, with Florida being the top state for investing, chosen by 67 percent of investors who searched multiple states.
Every time a property is sold, the surrounding economy gets a boost. Local businesses and industries benefit at every stage of the process from the sale to post-sale purchases. These include aspects like home construction costs, real estate brokerage, mortgage lending and title insurance.
Hawaii leads the way with a $177,000 boost to their local economy. The national average is $57,500.
In this episode we talk to Joel Grasmeyer, a real estate investor, engineer, and entrepreneur who started PropertyTracker.com in 2004 to create user-friendly, yet powerful tools for real estate analysis.
Some of the topics we discuss include: [Read more…]