They're Lying! The Truth About A Dubious Real Estate Statistic

[@stacieboone6388]

Wow! I have been waiting for a post like this Joe! If only Redfin, Zillow, etc. would cut through all of the bogus info that realtors post in their respective MLS. Honestly, if homes are priced and listed correctly, they will on most occasions go under contract within days of INITIALLY going on the market

[@Manausa]

So true Stacie, thank you for sharing your experience!

[@Manausa]

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[@kevinmilligan9555]

Joe -- I may have missed it, but is this data for resale only? I assume NEW CONSTRUCTION market time could skew the numbers.

[@Manausa]

That's a good question Kevin Milligan, I appreciate you taking the time to add to the discussion. New construction was removed to accurately measure the existing homes market.

[@chrispoyner3338]

Love the Samuel Clemens Quote (A great Missourian like myself) to start the video. I had this exact conversation with a buyer last week, and while he referenced the Zillow's & Redfins of the world, I referenced the local Manausa data. Thanks for providing the tools Joe!

[@Manausa]

Love that! Thanks for sharing Chris.

[@catherinebeeche5897]

It's imperative for prospective home buyers to grasp the nuances of ACCURATE local market statistics, empowering them to make informed decisions. Can't even count how many times I've explained why the "Zestimate" and other stats found on larger real estate websites, aren't always correct!

[@Manausa]

That's a great pointt @catherinebeeche5897, it's easy to have the wrong game plan when you don't understand real values in the market.

[@alexkinsley9084]

Redfins share value tanked from 96.59usd a share at its peak in February 2019 to the current market value to its current value of 9.00usd (as of 4//19/23). This is because their company bit off way more than it could chew in its scaling and essentially had to fight a war of attrition when the real estate market starting coming back down to earth. Two giant layoffs halted them in their tracks and it will never come back to what it once was. Real estate historically has always been a localized market, and that isn't changing anytime soon. Despite the digital age being ushered in, you still need an experienced agent.

[@Manausa]

Thanks for sharing your experience Alex Kinsley, it greatly adds to the video and channel.

[@lcr2382]

I watch you all the time ! Do you know what will happen in CA by next spring , live in the south but have a rental in Ventura County. Thinking of selling next spring EVERYONE says it will crash !!

[@Manausa]

Hey L Cr, great to hear from you again. I cannot answer that question because I do not track the economic activity in your local market (Ventura County). I recommend you speak with a top agent today to get a feel of "now versus wait." One thought I can share that likely is true everywhere, when selling a home with a tenant, if the lease will exist after the sale, then the new owner will be an investor (not an occupant). You rarely see investment sales at prices near occupant sales, so rather than a time of year decision, it might make more sense to make a "duration of lease" decision. If you put a home on the market when you're about 45 days out from lease termination, then both investors and occupants will view the home and you'll likely strengthen your position. FWIW, I just did a rudimentary scan of Zillow and it showed a $550K property (2br/2ba 1070 sqft) that it projects at a new all-time high price (coming of recent low in January). THIS IS NOT ENOUGH INFORMATION FOR YOU TO MAKE A DECISION ... but I thought I would share my 2-second view of Ventury County, CA. In my market (and many US markets), home prices make their biggest push higher in the second quarter of the year, so that might be true for you as well. As far as "EVERYONE says ...." ... everyone is usually wrong. But I'm hearing major population exodus from CA, so maybe they are right .... speak with an expert! L Cr, if you'd like to work with the agent I trust in Ventura County, let me know and I'll put you in touch with her.