Posts filed under ‘Foreclosures & Short Sales’
How Accurate is Zillow.com?
by: Maria Hass
By now most people have heard of Zillow.com – a website where home buyers or home sellers can go to find out the worth of a property. But is it really accurate? My answer is a resounding NO! In fact, there is usually a huge difference between the home value calculated on Zillow.com versus the true market value of the home.
Why is Zillow.com not accurate?
1. Zillow.com determines a home’s value based on tax records, which are hardly accurate nor updated. I tried experimenting on my old home to see what the site has to say. Zillow.com estimated my home at $223,000. I was able to sell it for $250,000. Zillow’s estimate showed that my home was only a three-bedroom without a pool when in reality it was a three-bedroom plus a den with a Pebble-tec pool and built-in barbecue. Home buyers visiting my home without the help of a Realtor would argue that the home is only worth what Zillow says it is. Well, in the real estate industry, Realtors don’t give Zillow’s estimates any respect.
2. Zillow.com provides a comparative market analysis of your home based on what sold in the last year. Real estate agents typically pull up homes that sold within the last three months because the market is constantly changing. We also look at what is pending and active to get an idea of what the future sales look like. Zillow does not do that.
3. Zillow.com does not have specific search criteria. The website does not take into consideration the condition of the home, any upgrades to the home, the number of levels of the home (single-level, two-story, with or without a basement), the direct and indirect competition of the property for sale and any additions to the home. Zillow does not distinguish whether the home that sold backs out to a main street or to a lake. This property description alone can add $20,000 more value to a home on a lake and a lot less to a home that backs to a busy street. It does not know if the home that sold has an extremely big lot or extremely small lot. Again, this can add a greater value to a home with a huge lot. Zillow does not identify whether a home that just closed is bank-owned or a regular sale. The type of sale matters to real estate agents because distressed sales normally sell for a lot less than regular sales. So, your four-bedroom home will be compared to all the four-bedroom homes close by, regardless of valuable property features, condition, upgrades, etc.
4. Zillow’s estimate is computer-generated. There is no human intervention to identify the changing market conditions. It does not have the eye to see the condition and competition of the home for sale. Zillow.com is one big misleading home search website. It is a quick and easy way to find a home’s value, but is far from being 100 percent accurate. If you are serious about finding the value of a home, take time to call a trusted and knowledgeable real estate agent. Realtors have the tools and expertise at their disposal to find out what your home’s value really is. If you need help with determining the value of your home, feel free to contact me for assistance.
Lennar Homes at Layton Lakes Review
by: Maria Hass – I had the opportunity to place three clients with Lennar Homes at Layton Lakes in Gilbert, AZ, and I’m delighted to say that all three experiences my
clients and I had with Lennar Homes were extremely positive. Here are some reasons why:
with the field supervisor, clients, myself, mortgage and title companies were streamlined from start
to finish. And everyone involved in the correspondence was copied so that everyone was on the same page and
aware of what was taking place every step of the way. They kept me involved in the whole process from contract signing, inspection, walkthrough and closing. This is different from my experience as a Realtor with other builders. Many Builders only keep me involved in contract signing but cease to update me moving forward. I would like to act as counsel to my clients and guide them every step of the way. It is difficult to do this, when the Builder’s employees don’t include you in their correspondence with your client.
and prepared my clients to know when to expect important events to happen.
and for that my client is grateful.
customer service but they also have a big inventory of move-in ready homes than any other builder in the East Valley at any price range for any size family. Select from over 18 floor plans in four different communities – Horizon, Signature, Destiny and Vision. If a family oriented community with lots of greenbelt, walking paths, basketball court, splash pads, tennis court and a community elementary school interest you, stop by the Lennar Homes Model Center by Lindsay and Queen Creek.
Plus, they give the Buyer 4% towards payment of their closing cost on spec homes.
And remember to bring a qualified buyer’s agent like myself to ensure your best interests are represented.
Real Estate Story No. 3 – Document Everything

Real Estate Story 3 – Why Didn’t You Tell Me the House was Haunted?
I tuned my car radio to 104.7 FM one recent morning when the “Machaca” segment of the Johnjay and Rich radio show came on. This is the portion of the show where the show hosts help a caller solve a puzzling question by tricking another person to confess his or her darkest secrets on the show.
A caller wanted to find out if there was a homicide that happened in the house she currently rents. The caller said she had seen ghostly images appear in the bathroom and felt a presence lying in bed next to her. She hadn’t slept for three months because she was wondering about the story behind this house.
Johnjay and Rich called the woman’s landlord pretending to be from a movie production crew and scouting for a haunted house to film a scary movie for $10,000.
During the course of the conversation, the landlord, owner and Realtor admitted that there was a double homicide and suicide that occurred when the mistress of the husband came to the wife’s bedroom and shot the wife while asleep. The husband came up to the room and saw the wife dead and shot the mistress and later shot himself.
The caller wanted to know if she could break the lease and if the landlord was wrong in not disclosing to her as the tenant that the house was “haunted,” or a site of homicide.
Is Landlord obligated to disclose that house is haunted or a site of a homicide?
The answer is found in lines 25 to 29 of the Arizona Real Estate Agency form provided by the Arizona Association of Realtors.
Pursuant to A.R.S. §32-2156, Sellers, Lessors and Brokers are not obligated to disclose that a property is or has been: (1) the site of a natural death, suicide, homicide, or any crime classified as a felony; (2) owned or occupied by a person exposed to HIV, or diagnosed as having AIDS or any other disease not known to be transmitted through common occupancy of real estate; or (3) located in the vicinity of a sex offender. Sellers or Sellers’ representatives may not treat the existence, terms, or conditions of offers as confidential unless there is a confidentiality agreement between the parties.
Although the action of the landlord may be construed by the tenant as morally wrong, it was legally fine. The tenant can break the lease anytime with penalty, or as described in the lease agreement. If tenant wishes to break the lease without penalty, she could hire a lawyer to stand in her behalf. There are volunteer lawyers that advocate for tenants’ rights, or check with the Arizona Department of Real Estate for resources pertaining to this complaints.
*Maria Hass is a full time Realtor with HomeSmart, the no. 1 Real Estate company in Arizona. She has 5 star reviews from past clients and operates majority of his business by referral only. Contact her at (480) 650-0075.
I Have Multiple Offers on My House – What Should I do?
by: Maria Hass
I recently received multiple offers on a couple of properties I listed. One of the homes received multiple offers after only one day of showing.
It is flattering to receive multiple offers back-to-back. It is similar to receiving more than one proposal for your heart at one time.
The problem is — who will you pick?
It requires a knowledgeable and experienced Realtor with strong negotiation skills to achieve the best results for the seller. In a multiple offer scenario, the seller has several options:
- Counter one offer at a time.
- Counter all the offers at the same time.
- Accept one of the offers.
Finding the best option will depend on the type of buyers you have. By answering the following questions, the listing agent will have a better understanding about which buyer has most to gain or lose in purchasing the property:
- Why are the buyers buying the house (determine motivation)?
- Which buyer is most qualified?
- Who needs the house sooner?
- Which buyer’s Realtor is easier to work with?
- Which buyer has the lender that is reliable and can close on time?
Finding more information about the loan officer and lender is a critical choice. In many cases, a lender can make or break the deal. The listing agent should know if the lender can close on time; the lender’s requirements; the structure of the loan officer’s business; the ability of the loan officer and his or her team to communicate with you; level of experience; track record, and so on.
Big banks like Wells Fargo, Chase Bank and Bank of America, based on my experience, do not provide good training and supervision for their newer loan officers. This can result in many failed transactions. Big banks have a multiple layers of bureaucracy and restrictions that can prevent the Realtors and all parties involved from knowing what is really going on with the buyer’s loan application.
I had a file handled by a Wells Fargo loan officer which did not close because the loan officer could not get the buyer’s salary disclosed in the loan documentation to match up with the buyer’s salary as reported by their employer’s a few days before closing. The buyer did not get the house and I earned zero commission on a transaction that was near its conclusion.
The listing Realtor’s art of disclosing or not disclosing information on other bids is dependent on seller instruction and is crucial in influencing the final price for the house.
On the other hand, it is possible for some buyers to lose interest in a property if placed in a multiple-offer situation. These type of buyers are not interested in competing and raising their price; they would rather go look for other properties than watch the prices go up. It is important for the listing agent to keep the buyers updated about the process and to keep the buyer’s Realtors engaged in these exchanges. Otherwise, you can lose ALL your buyers.
If you are fortunate enough to get multiple offers when selling your house, if you aren’t working with me, be hopeful your Realtor follows the rules I do: Think smart, know your buyers, and engage with them to compete with each other’s bids.
Good luck!
How Much House Can You Get for Your Money in Arizona?
In fact, website Realtor.com recently named Phoenix as one of the top 10 fastest-growing real estate markets in the nation for 2015.
Cost of living, quality of life, employment opportunities, infrastructure, disaster-free climate, ethnic diversity, and opportunities for myriad types of outdoor recreation are among the reasons people from diverse backgrounds and income levels choose Arizona for their primary or second home.
Different types of homes can be built in Arizona. You can find high-end homes built in the hills surrounding Mesa, Scottsdale and the Tucson area. Horse property homes are available on the east and west sides of town. Custom homes, semi-custom homes, winter homes, active adult communities for 55 years and older and young family communities are also good choices for home buyers looking in Arizona.
What’s the future of home prices in Arizona?
We are seeing much stronger upward movement in pending listing counts and under contract counts than existed last month or last year. We therefore expect good demand during the spring selling season and no significant downward pressure on pricing unless a substantial amount of new supply is introduced.
At the moment, supply numbers remain weaker than last year, so we could see prices increase over the next three months. Almost every year, we see a little price weakness during the summer followed by renewed strength during the last four months of the year.
“I Hope I find a Great House” (Not a Great Realtor)
by: Maria Hass
One recent Sunday afternoon, a married couple came to an open house I was hosting in Chandler. They were looking for a new house because they were not happy with their current home in Gilbert – which they had only purchased three months earlier.
Apparently, they decided that their current house was too small, among other issues. I asked them if they were working with another Realtor to find them a new house and they answered, “Yes, we’re using our old Realtor.”
It sounds funny, but why would you do business with the same Realtor who just found you a house you didn’t like? Obviously, the couple that visited my open house didn’t want to deal with a Realtor. They just came to look at the house.
This brings me to a page I was reading in a book titled “Super Agent” by Joanne and Joseph Calloway. The book mentions that seasoned Realtor Russell Shaw once commented, “Buyers wake up in the morning thinking, ‘I hope I find a great house (not a great Realtor)’.”
This sentiment is accurate. I know many buyers think that way. This statement is however, FALSE, because you find a great house the majority of the time through the efforts of a great Realtor who understands your needs.
Unfortunately, Realtors in general have been a target of negative public opinion, owing to part-time Realtors who are not properly trained or who are unprofessional “discount” Realtors providing below-average service.
Every Realtor is different depending on level of expertise, knowledge, communication style, professionalism, work ethics, etc. Yes, there are lazy and unmotivated Realtors too, and also those who overpromise to get your business but never deliver.
In reality, there are many Realtors who are well-trained, knowledgeable and educated, committed to looking after the best interests of their clients.
These Realtors exist and are dedicated to finding you a home that you like – if you stay committed to them. After all, having more than one Realtor is the same as having none. Professional Realtors don’t like working with buyers who don’t value their time and are not loyal.
Great Realtors can get you the house you want just by listening to you. In some cases, you only need to look at a few houses to find the one house you like. Great Realtors can find you the one house you like regardless of the market and create an action plan to get you into your dream home.
The market changes and as a buyer you should know how to adapt to these changes if you want to buy a house soon. Without a great Realtor, you will be looking longer and end up wasting more time and money. Great Realtors simplify the buying process and move the transaction to closing.
So, if you are a buyer looking for your next house, wake up one morning and say, “I hope I find a great Realtor today!”
Had the couple at my recent open house decided to take some time to talk with me, they may have learned some important things about the market and homes for sale that would help them in their new home buying journey.
Thinking of Becoming a Realtor? Find Out the Real Deal From an Expert
by: Maria Hass-
I met a nice lady the other day who told me she is taking classes to become a Realtor. Her mom has a realty business.
She asked me how I liked being a Realtor and how difficult the business is. I told her I love being a Realtor and that I’m actually thinking of hiring an assistant to increase my production.
However, there are facts unknown to many new Realtors that are worth knowing now, rather than later. These facts may save you money and time in classes, training, membership fees, exams and more because they will help you know now whether this profession is right for you.
- Realtors are salespeople. It says this on your license. Unless you are a broker, your license begins with an SA – meaning Sales Agent. If you don’t like to sell, this is NOT the job for you. Many successful Realtors are not necessarily the most knowledgeable and experienced Realtors but are “great” at marketing themselves.
- It isn’t enough to like houses. Houses are just a part of the job hunting process. What is even more important is liking “people” no matter how they look and behave. You have to convince people to trust you and like you back for them to give you the business. Some Realtors are naturally good at this while introverted people need to work on it.
- This business is highly competitive. I was knocking on doors the other day and found out four Realtors lived on one street of that neighborhood. Let’s face it: Realtors are everywhere and the sad part is, the public thinks we are in the same class as car sales people. Of course, I beg to disagree.
To be successful, you have to stand out in this highly-competitive industry and beware that unfortunately, there are other Realtors that will cut underneath you with unorthodox, sometimes unethical tactics to get a sale. In the same vein, beware of clients or prospects who only care about themselves. They are likely to dump you at their convenience after you have worked many hours to find them a house. It hurts, but you have to try hard to pick up and move on. Not all buyers are a pain, there are still many who value loyalty and service if you treat them well. - This business is costly. Set aside a budget for marketing (mailings, printing, postage, flyers, advertising, networking and more), membership fees, classes, lock box fees, gifts, entertainment, office supplies and up to 40 percent or more in taxes. After all these are tallied, the real estate business may not be as lucrative as you initially thought.
If you’re thinking of becoming a Realtor, it helps to know if you have the personality, aggressiveness, patience and perseverance to compete in a highly-demanding industry. Take inventory of your abilities and traits before making a decision to move ahead – and if you go for it, best of luck!