Warren County Ohio Real Estate News and Observations

Estimates Are Just That

Yesterday a local TV station's weather forecast was for about 8" of snow Sunday/Monday.  That's quite a bit at one time for our portion of Ohio.

Today the local radio station predicts 1-3" of snow for the same time period.

What are we to think?

Which source is more accurate?

Are they using the same data to draw their conclusions?

Or is the radio station more accurate because they're closer to the actual event?

Bottom line, they're both estimates and the fact of how much snow we receive will be determined when we actually have the event.

And thus it is with predicting selling prices for homes.

You can go online and find Zillow's version, a Zestimate along with a disclaimer of a plus/minus percentage for a particular market.  Sometimes that range can be VERY big, sometimes not so big.  The more uniform and more often homes sell, the easier it can get for a computer model to guestimate a home's worth.  A cookie cutter subdivision with LOTS of sales of like homes and that estimate might be fairly close.  Move out to country estates with lots of custom tweaks and no online estimate is going to be on the mark. 

And if you poke around the web you'll find plenty of other places that will estimate your home's value without ever visiting.  Obviously you need to take these estimate with a VERY big grain of salt.

Even within the real estate agent ranks, there's variation in how good some agents are at estimating market value, and that's even AFTER visiting a home in person. 

An agent may have a reputation for underpricing (but at least their listings SELL FAST!!).

Another agent may consistently overprice what the market will bear. 

And some agents are better at parsing what really matters to home buyers.  The features and characteristics of a home that make it more or less attractive than the competing homes and knowing where that sweet spot of pricing is to get the home sold for best value in the most reasonable amount of time.

But even with all that taken into account, just like the weather, the fact of a home's worth isn't established until a buyer and seller come to terms (and the appraiser agrees with the two of them!).  But to get there, you want to find the agent that can give you the truest estimate of your home's worth.  If it's not just a guess, that agent can back up the estimate with the sold data and active market data that puts the confidence in the estimate.


Want to discuss further?  Just give Bill a call at 513-520-5305 or email/text Liz@LizSpear.com



Serving Greater Cincinnati home buyers and sellers, 

Bill and Liz aka BLiz



Serving Warren County Ohio & Adjacent Areas


The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

 FacebooktwitterWordpressYouTube Pinterest






View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map

Comment balloon 0 commentsLiz and Bill Spear • March 03 2019 12:09AM
Estimates Are Just That
Yesterday a local TV station's weather forecast was for about 8" of snow Sunday/Monday. That's quite a bit at one time for our portion of Ohio. Today the local radio station predicts 1-3" of snow for the same time period. What are we to… more
Home Sellers, Are You Sending Unintended Messages?
Your home is on the market and buyers are listening to what you and your home says. You might not realize it, but you ARE sending messages to potential buyers, and long before they ever step through your door. Have you looked at how your home looks… more
Planning To Sell Your Home In 2019? It's Time To Meet
You've decided it's time to sell your Cincinnati home. You needed something to happen and it's happened. The last kid is off to college. The new construction in your community has finished. Retirement beckons! Your health has changed and keeping… more
What If You Had To Sell Your Home Tomorrow?
We've lived in our home for over 25 years (and that's not it in the picture). There's not much about our home that's the same as when we bought it. We (okay, our contractors) completed gutted and remodeled both baths and our kitchen. Walls have… more
Mr. FSBO, First We Have To Find You
My niche takes me across two states. I help buyers with their low maintenance home needs from the south of Dayton, down through Cincinnati and into northern Kentucky. Literally that's dozens and dozens of communities. At some time or another I… more
Good Pictures Say Come On In
Admit it. Whether you're really thinking about buying a home or not, you've probably looked online at some homes for sale. Whether it's just curious about the neighbor's house for sale or because you're starting to get an itch that will need… more
Before You Say No To The Showing Request
It can certainly be inconvenient to sell your home. You've got to keep the home "show ready" ALL the time. You never know on a given day if you'll have 10 showings or none. Sometimes you get almost no notice, sometimes you get the request… more
How NOT To Get Top Dollar In A Sellers' Market
Large portions of our local Cincinnati real estate market are fully in the sellers' market category right now. There's just not enough homes for sale to meet buyer demand in the affordable home segment, and the result is a good condition home… more
Home Sellers, How Does Your Home Look Online?
They say every home has a price. No matter how beat up the house or how bad the neighbor's home looks, there's a price that at least ONE buyer will find acceptable. But what if for YOUR home you're being led to a price LOWER than what your home… more
Blink! Another Oregonia Ohio Home Under Contract
43 S. Waynesville Rd Oregonia OH 45054 Affordable homes for sale in the Lebanon City School District aren't lasting long! Our last listing on Blossom Heath in Lebanon had multiple offers and sold above list price within 24 hours of being… more