The Danger of Using Zillow in Montana
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- čas přidán 13. 05. 2020
- Do you use Zillow in Montana? Are you looking to buy or sell real estate in Montana and you are using Zillow to help? There are some things that you need to know about the Zillow website before you buy or sell real estate in Montana! We will show you what to look out for when using Zillow for Montana Real Estate.
If you would like information about homes and land for sale in Whitefish, Montana, Please contact us at any time!
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VERY HELPFUL for Seller and Buyers as well. Thank You for your Time and Excellent Guidance.
This CZcams channel has blown me away.
If everyone in Montana is as good-hearted and decent and honest as you have been on this channel... I am even more sorry than before that I cannot afford to live there.
Thank you!!!!
99% of the people in Montana that are FROM Montana are good people, this has always been a Hand shake or your word is just as good as a Contract. the probles we have are with the people that have moved to Montana from some Nasty place.
@@marksmith7054 The Californians have already invaded? Dammit!
I've always known that the "zestimtes" on Zillow are a joke! They should be completely ignored.
Great video! Cut right to the chase and actually learned a couple things thanks. Liked subscribed
Thanks for the heads up information!
I am an appraiser in rural Nevada and often encounter the same problem, "But Zillow says..." Zillow is nothing more than a statistical analysis of sales data applied to a particular property. If the data inputs are not particularly consistent then the result will be flawed. Zillow works pretty well in metro suburb areas with a lot of consistency among a particular size and age range of house. As the consistency decreases so does the result.
triggins8 Zillow also doesn’t know how to deal with property. They can do city lots with square footage of house. But once you variate from that they have no idea
From what I can tell, Zillow cannot keep up with the actual skyrocketing prices being created by the race for Montana. A realtor will demonstrate much higher prices.
Thank you. This was very helpful information.
Glad it was helpful!
We had acerage for sale in so California. People didn’t want the work of acerage, so we lowered property price to entice people to want it. Making it a good deal. Every time I lowered the price, Zillow also lowered their estimate. Here we were trying to make it so it was under Zillow pricing. I have pictures of Zillow each time the day before we lowered and the day we lowered. There is no one to “yell” at and get this wrong corrected.
you should have raised the price and when a buyer showed up negotiate the price, and say that you were will to negotiate in the zillow ad.
Monkeywrench542 we ended up getting $100,000 over asking price
I really want to buy a house my wife and I have been renting in FL since 2010 to help my in-laws out. They got caught up in the whole use my house as a ATM game until the crash in 07-08. We are in a bubble right now that is worse than that one. There will be a major crash coming, you don't have to be a prophet to see that our whole world is in for a shock like this world has never seen. I wish to my Lord Christ it wasn't so but it is. I think by this time next year people are going to have had a real come to Jesus moment, the normalcy bias will be over and reality will be staring all of us in the face. I would start to get to know who you are living around, you may very well have to help your neighbors in need. Blessings
Only daydreaming of Montana, But am enjoying your Vid's. specially Zillow!
Your videos are always filled with great information. Thank you
Thank you Sadie!
Thank you for sharing this information.
Zillow BLOWS! The valuation for my house is off by $400,000. Tried to update the information but Zillow claims I don't know what I'm doing. Really? Can you explain why my neighbor who has a house with half the square footage, half the acreage and half the amenities is listed for twice the price of mine? Totally useless as a resource.
Absolutely right Bill. They are morons- prob some AlgoreRhythm. Who's lived in your house- done the upgrades- you or them?
No kidding. My neighbor's home next door has a "Zestimate" at $100k more than mine and my neighbor on the other side has a Zestimate of $50K less than mine. We all have basically the same house.
Don't you want to keep the price low for taxes? Until your ready to sell then you get your home reevaluate?
Let the neighbor pay higher taxes a year!
@@snoopu2601 Depends on your area. In my state, RE taxes are capped. They can only go up by the stated rate of inflation with a max of 3% each year regardless of how much the house goes up in value.
@@scsmith4604 thanks for the information I'm shire it's a lot lower than where I am in California bay area. My parent's bought this home in the early 1970s when the price of a home was farley low cost. Now it's almost impossible to pay off a home in a life time. It can still be done in certain areas in California but not in the bay area the prices are so high and for what you get. Most people live until they retire then leave California and buy a home in another state. That's what most of my parent's friend's did went back to the state they left after WWII
Thank you for the information!
Zestimates are based on square footage, the number of beds and baths, the location, and the year the house was built. It does not take into consideration the condition of the house. My house just sold for 298k. My neighbor's house has the same square footage as mine but has cheap siding, while my house is mostly stone. Their house has a zestimate of 208k, while my house has a zestimate of 124k. Why? Because my house was built in 1969, and their house was built in 2002. That's the only reason. Everything in my house was new when I sold it. New flooring, kitchen cabinets, granite countertops, paint, roof, electrical, furnace, etc etc. That's what zillow misses, and to be fair they do say in the description that they "might have missed something" in their estimate, since it had such a large discrepancy.
Excellent video. Thanks!
I like looking at public tax records from the County Assessors in non disclosure states. :-)
Those records can often be wrong. Realtors the property profile off the internet and it was way off. It did not include the home addition in 100s of square feet.
The information came from the County tax records not a title company. Just letting you know so you will be aware. Good luck in your search. Hope you find your dream home.
Thanks for the info!
As a realtor, if comps aren’t publicly recorded, how do you track sales and comps to advise your clients on what price to list or what is considered “market” from a buyer’s perspective?
We track all of the sales in our MLS. When I say Montana is a non-disclosure state, it means that you cannot go down to the courthouse and find out how much your neighbors house sold for. As a broker, I can see in our MLS the sales prices of each house that was sold by another agent. If a house was sold by owner, there are no records of the price on our MLS.
With non-disclosure . I wonder how do you figure comparables ?
Wow, good info, thanks.
Thank you for this information.
We have alot of family in Montana and would like to make a move one day. We love the state.
Really valuable info on Zillow for all users....thanks
Montana is awesome. If u have a job that pays well.
And even then it’s a matter of time before someone is willing to do the exact same thing for less then you.
Jobs is the magic factor in Calculating if u wanna live in Montana or not. Income.
Yup unless ur paying cash ur a fool to pay 315k for a 1330 sqft STARTER house I wouldnt* pay more then 68k for that place. U gonna afford more being a Walmart greeter fools?
Does the county know the sale price, but doesn't publish it? How do they set tax rates?
very useful information
Wow, thank you very much for posting this video. Eye opening.
Is there a better web sight to find property’s for sale in Montana
What are some other good websites to use for buying and selling houses and properties?
Zestimate = estimate. When they give you a number with a large variance to the list price, they tell you up front with a picture of their cartoon robot, that other factors may be in play to justify the higher ask. If you are buying from an owner and click to contacted by an agent, of course you are going to be contacted by a commissioned agent.
Zillow is very useful to see available listings with asking price and getting an idea for what the property looks like. The photos and the asking price are what I'm primarily interested in. It is a starting point for further research.
You sound like an agent mean mouthing the competition. You imply without proof that they are hoodwinking buyers or sellers. In fact Zillow discloses everything you need to know. Most real estate agents I've encountered and not very great and not worth the fees they often ask. They are sales people! That's all you need to remember.
I'm a proud lib too...the world owes us
He's just giving out some info..you dont have to lose a nut
Sit back down John, and be quiet.
With people skedaddling out of their current living situations and conditions I heard national corporate real estate speculators are on the rise...which means/involves buying property with the hopes of reselling it at a higher price in the near future. This essentially means making a prediction about future prices in a particular market, or for a particular property, and purchasing real estate before the predicted spike. I live in Colorado in what is now a pretty hot area to move into and I cannot not tell you how many 'cold' contacts I get on people/corporations wanting to buy my home. And, they purely wanting to turn and burn my property. What is my point? It is a problem.
Can you get the property tax info and based on the tax rate
Get value
Thank you! This information is very helpful as stated in other comments. I appreciate you making this video.
VERY good to know about that non public disclosure thing. Thank you for the heads up on how they are guestimating their values.
I use the "SOLD" listings to run my own comps on sites like these. In really popular areas it is probably likely that most of these homes will sell for full asking price, so that simplifies things a bit, but it's also important when comparing to consider things like lot size/acreage, and in rural areas access to the land might be a consideration as well as other variables not so common in the burbs.
2:26 dang that was some quick maths also i love your channel i would love to live in montana it looks beautiful
oRc Panther Thanks for watching our videos!
If I live in another state, Do I apply for home loan in my state? Or do I move then look?
Trying to relocate in general...
Local lenders know the area and might help in certain situations with HOA's etc.. I have had some deals fall apart with national lenders because they don't understand the local laws or rules here in Montana.
Montana is a big vast interesting place
It's a long way to Montana from Florida and the information you have prevented a serious logistical nightmare. What I would like you to discuss is the subject of RETIRING in a short ccx warm season and where snowfall might prove an issue. Thank you. Sick of Florida heat and insects. Mark. P.s. we're horse people for 50 years.. also needing info on 5-20 acre tracts fenced and perhaps equine ready.
“Where snow isn’t an issue?” Lol! You better do your own homework before trusting an agent to supply this info. Snow is why Montana and all the northern states have so many snowbirds headed south every winter. Good luck.
You may want to watch this guys other video about living in Montana...
czcams.com/video/o1hQqFhuuBU/video.html
@Ari GSD Right, you've covered California emigrants, but what about the insects?
Good job
I was looking at homes in Montana and Wyoming and curious to know what the actual difference is between "pending" and "contingent"?
I have heard that these terms have different meanings in different states so I’m not sure about Wyoming. In Montana, “contingent” means that both parties have agreed on price and they have all signed the contract, but the buyers still have time to do an inspection and review the title commitment, and any other property investigations. The buyers can back out at this point and recover their earnest money. When a listing says “pending” it means that all inspections have been completed and they are just waiting to close. Homes rarely come back on the market once they are listed as “pending”.
@@LivinginMontana1 Thank you very much!
You can look up the sale price of property. I do it all the time. Just gotta find the tax records.
Tax records don't equate to sell price...otherwise my house would only sell for a third of it's real value...
FROM YOUR OWN WEBSITE : it states "Under Contract Taking Back-Up Offers" - what does this mean.?
It means that someone made and offer that was accepted by the seller so they are now taking offers in the back up position in case the first deal falls apart.
Hmmm...This is confusing to me.. Isn't the MLS is a private service (not government) that the National Association of Realtors pay for its service/software? Further, what about the brokers/agents who are not members of the MLS that can still sell without being members to this service? Doesn't the state keep track of sales/market data for property tax purposes when these transactions/deeds are filed with the government; Isn't this public information?
One thing about zillow though, is it allows a person to find realtor's for an area, that may otherwise be hard to find...ie. trying to figure out the realtor for a 30 acre track of land out in the middle of nowhere...
Bingo! Zillow puts you in touch with other real estate agents..... I think you get the picture. Competition sucks. Wonder why realtors don’t like Zillow?! Funny stuff.
@@mswatchlist7699 yup, competition sucks ... When you aren't good at it or need/use a corporate name to keep the lights on ...
okay it’s good
I used Zillow to list my 18 Acres with a NEW 24x24 Cabin and sold it for what I wanted. I listed my home in Butte for 175K Zillow kept saying my home was only worth $48,000 then they finally came up to 60K funny thing I sold my home for 180K. it's completely Remodel and well worth the 180K as it was listed on MLS for less than 6 Hrs and I got a FULL Price offer, 2 days later I got another FULL price offer. Zillow is a JOKE as they have NO clue what a home is worth in a different state. they are based in Seattle WA and I believe that's were they base their home values from.
Would you recommend Butte? I’m being priced out of my hometown Missoula
@@davywilliams8048 well since you already live in a total Liberal city then you could fit into Butte. there isn't much there and the prices are going UP UP UP, most of the homes are VERY old and they have been buffed and polished and are usually tear downs Not all but many are this way, I repaired a lot of these that people would buy after I told them to walk away from it. there are no good Home Inspectors, there are very few contractors that I would trust to build a dog house. homes used to be cheap but the prices of homes in Bozeman are California Prices similar to Missoula and people have bought in Butte and drive 75 miles one way to work in Bozeman. Butte has some very beautiful area around it. but unless you have plenty of money and don't need to work I'd look elseware.
@@marksmith7054 Thank you. Was hoping Butte wasn't so liberal? Looks like we're left with Billings
@@davywilliams8048 yea Butte is just little Bozeman/Missoula, it's a UNION town and very Clickish I was there 4 years and knew 1 person which was my neighbor across the alley and he too was a Liberal, there are a Few Conservatives there but only a hand full. the people are friendly enough I guess but not many I would hang out with. I moved back to Sidney, the most Conservative city in Montana. not much going on here but everyone is Friendly and I can wear my Trump 2024 hat and not get glared at.
@@marksmith7054 Hell ya sounds good. Billings was pretty conservative when I was there for a month last year. And Ravalli county south of Missoula is good but expensive. Anyway thanks for the tips
Zllow does this in California too on rentals even? Automatically knocks you out of the box?? Can't something be done about them?
The scary part is that they just announced that they are becoming a brokerage.
They get values them from county tax value and compare to other listings. Accurate? No but gives you an idea.
I'm looking at Idaho
Do you guys handle rentals? I was born in Great Falls and INVOLUNTARILY removed from this beautiful state at age 12 when my parents moved to Washington. Now as an adult, I'm ready to come home!!! Can you help us out? My wife and I have 2 boys and are expecting another kid soon. So we would need a 3bdrm. Looking in the north western part of the state, around Kalispell, Eureka area.
Unfortunately, we don't deal with rentals. They are not allowed on our MLS so we have no way to see what is available. The other issue with finding rentals here is that there is no central location to see all of the rental listings. You have to Google "Kalispell Rental Companies" and then go to each website and see what they have available. Each company has its own set of properties that they manage. You can also check Zillow and Craigslist as well. I hope this helps!
If you are using zillow for the value of the property it's too late..... the house already sold LOL Montane is selling so fast it's crazy here
I use these sites as a very basic generic guide.
ZILLOW is great to help me delude myself into the idea that my property is Far More Valuable than it actually is.
It's fun, if one is not interested in moving.
I would NEVER use it to find a home.....Do folks actually do that?
Geez.
What is
Zillow
How are Zestimates even legal in Montana when sale prices aren't public info?
The Secretary of State really ought to be made aware of this. It's akin to internet based gaming not having to comply with DoJ/Gambling Control regulations just because #internet.
Lot lines are off.
Very informative!
Glad you liked it
its not just Montana Zillow sucks. Idaho along with 10 other states are non-disclosure states. So when I had my house appraised, it was 100k under what Zillow thought it would be. And I agree with the assessment.
I just look at the pictures. 🙃
I didn’t know what Zillow was.
Zillion. Is now a Realestate Company!
So it sounds like, if you use Zillow, cry in your pillow.
Hehehrhahahaueueuhehehahahahha
Planning on moving to Montana, please forward me some info.
Email me at montanaliferealty@gmail.com and I will send you the information. Thanks!
Your video should not be limited to just Montana. Zillow's ZEstimate is grossly inaccurate in most states. In rural areas, the estimate does not take into account any improvements you have made to your property including barns, fencing, shops, etc. The "proprietary algorithm" primarily values property based on sq footage of the home, and the zip code, and doesn't account for a new kitchen, or landscaping. So Zillow, publishes a value for your property knowing anything about it. However, they are thrilled to buy it from you, and of course, sell it at a premium. Why RE Agents pay for this ripoff is beyond me.
Aloha
Let me be frank. Montana, real estate agents and I will also group appraisers, are running a shell game. Montana is a non-disclosure state on sale prices. There are no public record of a sale price. This is a huge problem for both sellers and buyers. Agents never have to be truthful on what "comps" are selling for. It also aces out independent and new agents. I have played this game with agents and appraisers there and it is ridiculous. Agents can promise the moon and deliver a load of crap. Fix your state and disclose your prices. Attach a small excise tax too it and generate a bit of revenue. Believe me. Both sellers and buyers would appreciate it.
Appraisers are in on this scam. They look up assessed values and rarely deviate because they don't want people charging up to courthouses with appraisals screaming for new valuations.
Zillow in disclosure states is actually very accurate, especially for urban areas.
The reason Montana is non-disclosure is because the people here don't want others to know what they spent on a house. This is a law passed by the state government, not Realtors. Also, I always tell the truth on comps. Why would I want a house to sit there and not sell, that makes no sense. As far as adding another tax, great idea???!!!!!
Living in Montana why would the house sit there if you inflated comps?
@@sailingnomad4963 If I told you your house is worth 500K even though the true comps are at 400K, it wouldn't sell.
Living in Montana it would if the buyers thought it was a good price at $500k, and with only you to offer comp numbers....
@@sailingnomad4963 Unless they were paying cash, the appraiser would see the other comps and it would come in at $400K. That kills the deal because a bank won't loan you 500 on a house that is worth 400
Realtor.com is much more accurate and reliable that Zillow.
Oh great, I thought Zillow was a code name for Pot.
Zillow is bad for sellers, but it is useful for buyers. The zestimates are basically ' comps' which are slightly less accurate.
I am VERY, VERY disappointed in Montana. It is another Oregon, Washington, and California when it comes to its liberalism.
I don’t know what do you expected from zestimate? Pretty neat to me
All homes are over priced…
lol… video sponsored by zillow
love the info! good quality and honest content! thank you.
You cannot protect everybody from their own stupidity.
ZILLOW SUCKS!! I don't and won't use it.
It seems like you are nit picking. When you keep talking about zillows prices dont you see they say estimates? If people are dumb and cant figure things out or know how house buying works thats their fault. FYI I dont have anything to do with zillow
They actually say Zestimate, not estimate. Also, the point isn't nit picking, it's valid. $50,000 difference between the ZESTIMATE and asking price is significant, EVEN IF IT"S AN ESTIMATE. That is the point he's making. If you are too dumb to understand that, maybe you shouldn't be posting a response to this video. PS - I don't live in Montana, I don't have any affiliation with Living in Montana, and I don't plan on buying in or moving to Montana any time soon... in fact, I'm not even a subscriber to the channel.
@@Murph_. fu
Anthony Gardner is from California for sure.
I think you've missed the entire point of the video.
@@kmacradio No not really