[earlyretirement]

I agree that you really have to take a grain of salt with Zillow estimates. I don’t know too many people that take them too seriously anyway. I agree with kev374 that they have some good information on it and some good graphs for property tax history, etc.

But it sounds like many of the people that are angry are people that had their valuations suddenly go down. I’m buying a house and the valuation went up $25,000 in 1 day after the change.

But that doesn’t mean anything because the price I negotiated is almost 15% lower than the median comps right now. Zillow estimates mean nothing.

[earlyretirement]

I agree that you really have to take a grain of salt with Zillow estimates. I don’t know too many people that take them too seriously anyway. I agree with kev374 that they have some good information on it and some good graphs for property tax history, etc.

But it sounds like many of the people that are angry are people that had their valuations suddenly go down. I’m buying a house and the valuation went up $25,000 in 1 day after the change.

But that doesn’t mean anything because the price I negotiated is almost 15% lower than the median comps right now. Zillow estimates mean nothing.

[earlyretirement]

I agree that you really have to take a grain of salt with Zillow estimates. I don’t know too many people that take them too seriously anyway. I agree with kev374 that they have some good information on it and some good graphs for property tax history, etc.

But it sounds like many of the people that are angry are people that had their valuations suddenly go down. I’m buying a house and the valuation went up $25,000 in 1 day after the change.

But that doesn’t mean anything because the price I negotiated is almost 15% lower than the median comps right now. Zillow estimates mean nothing.

[earlyretirement]

I agree that you really have to take a grain of salt with Zillow estimates. I don’t know too many people that take them too seriously anyway. I agree with kev374 that they have some good information on it and some good graphs for property tax history, etc.

But it sounds like many of the people that are angry are people that had their valuations suddenly go down. I’m buying a house and the valuation went up $25,000 in 1 day after the change.

But that doesn’t mean anything because the price I negotiated is almost 15% lower than the median comps right now. Zillow estimates mean nothing.

[earlyretirement]

I agree that you really have to take a grain of salt with Zillow estimates. I don’t know too many people that take them too seriously anyway. I agree with kev374 that they have some good information on it and some good graphs for property tax history, etc.

But it sounds like many of the people that are angry are people that had their valuations suddenly go down. I’m buying a house and the valuation went up $25,000 in 1 day after the change.

But that doesn’t mean anything because the price I negotiated is almost 15% lower than the median comps right now. Zillow estimates mean nothing.

[earlyretirement]

I think everyone has different circumstances and financial situations that they have to evaluate. Also, some people already have plenty of money in the stock market and they don’t want any more risk and savings accounts, CD’s are paying almost nothing anyway.

I’ve always liked owning properties free and clear with no mortgages or debt at all on them. I know most people would disagree with that strategy but many of the people that disagree probably aren’t in the situation to pay off their mortgages or own multiple properties without mortgages.

Definitely talk to a good accountant about your personal situation to evaluate your situation.

Many talk about “cheap money” and taking it and using it for other things. But I can tell you there are many people that have the ability to pay off their mortgage but then do silly things with their money. Or invest horribly in horrible stocks or bad investments and blow the savings. So you have to think about it from that perspective as well.

Paying off your mortgage is a conservative move which isn’t always a bad thing in this day and age. Much just depends how well diversified you already are and how much asset allocation you already have. Also, what would you do with the money if you didn’t pay it off?

[earlyretirement]

I think everyone has different circumstances and financial situations that they have to evaluate. Also, some people already have plenty of money in the stock market and they don’t want any more risk and savings accounts, CD’s are paying almost nothing anyway.

I’ve always liked owning properties free and clear with no mortgages or debt at all on them. I know most people would disagree with that strategy but many of the people that disagree probably aren’t in the situation to pay off their mortgages or own multiple properties without mortgages.

Definitely talk to a good accountant about your personal situation to evaluate your situation.

Many talk about “cheap money” and taking it and using it for other things. But I can tell you there are many people that have the ability to pay off their mortgage but then do silly things with their money. Or invest horribly in horrible stocks or bad investments and blow the savings. So you have to think about it from that perspective as well.

Paying off your mortgage is a conservative move which isn’t always a bad thing in this day and age. Much just depends how well diversified you already are and how much asset allocation you already have. Also, what would you do with the money if you didn’t pay it off?

[earlyretirement]

I think everyone has different circumstances and financial situations that they have to evaluate. Also, some people already have plenty of money in the stock market and they don’t want any more risk and savings accounts, CD’s are paying almost nothing anyway.

I’ve always liked owning properties free and clear with no mortgages or debt at all on them. I know most people would disagree with that strategy but many of the people that disagree probably aren’t in the situation to pay off their mortgages or own multiple properties without mortgages.

Definitely talk to a good accountant about your personal situation to evaluate your situation.

Many talk about “cheap money” and taking it and using it for other things. But I can tell you there are many people that have the ability to pay off their mortgage but then do silly things with their money. Or invest horribly in horrible stocks or bad investments and blow the savings. So you have to think about it from that perspective as well.

Paying off your mortgage is a conservative move which isn’t always a bad thing in this day and age. Much just depends how well diversified you already are and how much asset allocation you already have. Also, what would you do with the money if you didn’t pay it off?

[earlyretirement]

I think everyone has different circumstances and financial situations that they have to evaluate. Also, some people already have plenty of money in the stock market and they don’t want any more risk and savings accounts, CD’s are paying almost nothing anyway.

I’ve always liked owning properties free and clear with no mortgages or debt at all on them. I know most people would disagree with that strategy but many of the people that disagree probably aren’t in the situation to pay off their mortgages or own multiple properties without mortgages.

Definitely talk to a good accountant about your personal situation to evaluate your situation.

Many talk about “cheap money” and taking it and using it for other things. But I can tell you there are many people that have the ability to pay off their mortgage but then do silly things with their money. Or invest horribly in horrible stocks or bad investments and blow the savings. So you have to think about it from that perspective as well.

Paying off your mortgage is a conservative move which isn’t always a bad thing in this day and age. Much just depends how well diversified you already are and how much asset allocation you already have. Also, what would you do with the money if you didn’t pay it off?

[earlyretirement]

I think everyone has different circumstances and financial situations that they have to evaluate. Also, some people already have plenty of money in the stock market and they don’t want any more risk and savings accounts, CD’s are paying almost nothing anyway.

I’ve always liked owning properties free and clear with no mortgages or debt at all on them. I know most people would disagree with that strategy but many of the people that disagree probably aren’t in the situation to pay off their mortgages or own multiple properties without mortgages.

Definitely talk to a good accountant about your personal situation to evaluate your situation.

Many talk about “cheap money” and taking it and using it for other things. But I can tell you there are many people that have the ability to pay off their mortgage but then do silly things with their money. Or invest horribly in horrible stocks or bad investments and blow the savings. So you have to think about it from that perspective as well.

Paying off your mortgage is a conservative move which isn’t always a bad thing in this day and age. Much just depends how well diversified you already are and how much asset allocation you already have. Also, what would you do with the money if you didn’t pay it off?

[earlyretirement]

I’m the one that posted the other post about feeling that the current 6% system is on it’s way out (if it’s not already). With all the technology out there I’m quite confident most buyers are doing more homework than before.

While I’m sure there are always a percentage of people that need LOTS of handholding….even those people do quite a bit of research online.

The amount of technology today vs. decades ago is like night and day. In talking to several listing realtors on houses over $1 million it seems like almost all of them got an agreement to pay 5% and the listing agent splits it 2.5% with any buyer’s agent that brings a buyer.

I’ll stand by what I wrote in my other post to use a site like Redfin, Ziprealty.com and you can make a potential list and then just contact a traditional realtor and ask them to match Redfin’s rebate to you.

I didn’t have ANY problem at all finding a realtor that quickly agreed to rebate me the same amount as Redfin would rebate to me at closing.

If you have problems finding a realtor that will work in an agreement like this, email me and I’d be happy to refer the agent I’m working with. She has been really great with emails and was bright enough to recognize she would make a great commission.

I’m closing in a few short weeks so it was a quick deal for the realtor and a nice commission to boot.

I know the NAR is really trying to clamp down on these type of websites like Redfin and Ziprealty but technology will make the traditional model all but extinct in the next decade or so, IMHO.

The realtors that figure that trend out are the ones that are going to close a higher volume of deals and make more commissions in my opinion.

[earlyretirement]

I’m the one that posted the other post about feeling that the current 6% system is on it’s way out (if it’s not already). With all the technology out there I’m quite confident most buyers are doing more homework than before.

While I’m sure there are always a percentage of people that need LOTS of handholding….even those people do quite a bit of research online.

The amount of technology today vs. decades ago is like night and day. In talking to several listing realtors on houses over $1 million it seems like almost all of them got an agreement to pay 5% and the listing agent splits it 2.5% with any buyer’s agent that brings a buyer.

I’ll stand by what I wrote in my other post to use a site like Redfin, Ziprealty.com and you can make a potential list and then just contact a traditional realtor and ask them to match Redfin’s rebate to you.

I didn’t have ANY problem at all finding a realtor that quickly agreed to rebate me the same amount as Redfin would rebate to me at closing.

If you have problems finding a realtor that will work in an agreement like this, email me and I’d be happy to refer the agent I’m working with. She has been really great with emails and was bright enough to recognize she would make a great commission.

I’m closing in a few short weeks so it was a quick deal for the realtor and a nice commission to boot.

I know the NAR is really trying to clamp down on these type of websites like Redfin and Ziprealty but technology will make the traditional model all but extinct in the next decade or so, IMHO.

The realtors that figure that trend out are the ones that are going to close a higher volume of deals and make more commissions in my opinion.

[earlyretirement]

I’m the one that posted the other post about feeling that the current 6% system is on it’s way out (if it’s not already). With all the technology out there I’m quite confident most buyers are doing more homework than before.

While I’m sure there are always a percentage of people that need LOTS of handholding….even those people do quite a bit of research online.

The amount of technology today vs. decades ago is like night and day. In talking to several listing realtors on houses over $1 million it seems like almost all of them got an agreement to pay 5% and the listing agent splits it 2.5% with any buyer’s agent that brings a buyer.

I’ll stand by what I wrote in my other post to use a site like Redfin, Ziprealty.com and you can make a potential list and then just contact a traditional realtor and ask them to match Redfin’s rebate to you.

I didn’t have ANY problem at all finding a realtor that quickly agreed to rebate me the same amount as Redfin would rebate to me at closing.

If you have problems finding a realtor that will work in an agreement like this, email me and I’d be happy to refer the agent I’m working with. She has been really great with emails and was bright enough to recognize she would make a great commission.

I’m closing in a few short weeks so it was a quick deal for the realtor and a nice commission to boot.

I know the NAR is really trying to clamp down on these type of websites like Redfin and Ziprealty but technology will make the traditional model all but extinct in the next decade or so, IMHO.

The realtors that figure that trend out are the ones that are going to close a higher volume of deals and make more commissions in my opinion.

[earlyretirement]

I’m the one that posted the other post about feeling that the current 6% system is on it’s way out (if it’s not already). With all the technology out there I’m quite confident most buyers are doing more homework than before.

While I’m sure there are always a percentage of people that need LOTS of handholding….even those people do quite a bit of research online.

The amount of technology today vs. decades ago is like night and day. In talking to several listing realtors on houses over $1 million it seems like almost all of them got an agreement to pay 5% and the listing agent splits it 2.5% with any buyer’s agent that brings a buyer.

I’ll stand by what I wrote in my other post to use a site like Redfin, Ziprealty.com and you can make a potential list and then just contact a traditional realtor and ask them to match Redfin’s rebate to you.

I didn’t have ANY problem at all finding a realtor that quickly agreed to rebate me the same amount as Redfin would rebate to me at closing.

If you have problems finding a realtor that will work in an agreement like this, email me and I’d be happy to refer the agent I’m working with. She has been really great with emails and was bright enough to recognize she would make a great commission.

I’m closing in a few short weeks so it was a quick deal for the realtor and a nice commission to boot.

I know the NAR is really trying to clamp down on these type of websites like Redfin and Ziprealty but technology will make the traditional model all but extinct in the next decade or so, IMHO.

The realtors that figure that trend out are the ones that are going to close a higher volume of deals and make more commissions in my opinion.

[earlyretirement]

I’m the one that posted the other post about feeling that the current 6% system is on it’s way out (if it’s not already). With all the technology out there I’m quite confident most buyers are doing more homework than before.

While I’m sure there are always a percentage of people that need LOTS of handholding….even those people do quite a bit of research online.

The amount of technology today vs. decades ago is like night and day. In talking to several listing realtors on houses over $1 million it seems like almost all of them got an agreement to pay 5% and the listing agent splits it 2.5% with any buyer’s agent that brings a buyer.

I’ll stand by what I wrote in my other post to use a site like Redfin, Ziprealty.com and you can make a potential list and then just contact a traditional realtor and ask them to match Redfin’s rebate to you.

I didn’t have ANY problem at all finding a realtor that quickly agreed to rebate me the same amount as Redfin would rebate to me at closing.

If you have problems finding a realtor that will work in an agreement like this, email me and I’d be happy to refer the agent I’m working with. She has been really great with emails and was bright enough to recognize she would make a great commission.

I’m closing in a few short weeks so it was a quick deal for the realtor and a nice commission to boot.

I know the NAR is really trying to clamp down on these type of websites like Redfin and Ziprealty but technology will make the traditional model all but extinct in the next decade or so, IMHO.

The realtors that figure that trend out are the ones that are going to close a higher volume of deals and make more commissions in my opinion.

[Author]

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