April 13, 2018

How Accurate Are Zillow Zestimates?

For some reason, people have come to treat Zestimates are the defacto standard. Maybe it has something to do with our desire for instant gratification. In today’s internet-obsessed society, we want instant answers. How accurate are they? Not very. They are better used as a starting point for determining value, not the endpoint.
September 19, 2024

The Interest Rate-Condo Price Connection

Low interest rates, while often seen as a driver of real estate transactions, can also discourage homeowners from selling their properties. Many owners secured their homes during a period of historically low mortgage rates. These favorable rates made owning a home more affordable by reducing monthly mortgage payments. If they were to sell, they would likely face much higher interest rates when purchasing a new home, leading to significantly higher monthly payments. This "rate lock-in" effect causes homeowners to think twice about selling,