ruth Neidhardt

How Accurate are Zillow Pricing Estimates?

                                             

 

Zillow is the most popular online real estate information site in the country with over 72 million unique visitors in December 2014 alone. Besides displaying properties for sale, it also provides a database of information for properties that are not currently on the market. By simply entering an address you can pull up key information including lot size, square footage, number of bedrooms and baths. It also provides a Zestimate.

Zestimates are Zillow's automated property value estimates. Zestimates have become a major issue for both buyers and sellers. Consumers routinely quote Zestimates to real estate agents when it comes time to buy or sell. If a house for sale has a Zestimate of $300,000, a buyer might take issue with a sellers' list price of $400,000. The other scenario that comes up quite often is when a seller asks a listing broker why they they should market their home for $550,000 when the Zestimate states a value of $665,000.

These gaps in real value versus Zillow's Zestimates are becoming common place. Consumers more and more are taking Zestimates as gospel and if someone won't budge of their perceived value (Zestimate) it often can stop a deal in it's tracks.

The big question remains, how accurate are Zestimates. Zillow estimates that nationally Zestimates have a "median error rate" of about 8%. On a $500,000 house that is $40,000 disparity. The biggest issue with Zestimates is that in localized markets the median error rate can be far higher.  For example in Manhattan the error rate is 20%, in rural counties in California the error rate is a s high as 26%. In the Lakes Region of New hampshire I have personally witnessed some homes being off by as much as 30%. On a lakefront home with a value of $1,000,000 that equates to a difference of $300,000. But Zestimates aren't always on the low end of the value range. In carlsbad California, Zestimates came in below the selling price 70% of the time according to Solutions Real Estate.

So what is the public to do with their own Zestimate? Treat them as a starting point when discussing pricing. When it comes time to find the actual real value rely on the real estate professionals in your home market or get an experienced appraiser.

To see homes available on Lake Winnipesaukee please click here.

credit: Washington Post 

Comments

  1. Adrian Kelly on

    Work with Ruth Neidhardt? I don't think so. She's a bitter thorn in the side of the entire real estate community around the lakes.

    Squam River Landing brings Sustainable Living to Squam Lake

    Site Map Squam River Landing Squam River Landing Site Map

    Squam River Landing is a planned community in Ashland New Hampshire overlooking Squam Lake and the White Mountains. It has been designed to encourage sustainable and economic development in the Squam Lake watershed. Home sites will preserve the beauty of the region while minimally impacting the  watershed.

    Some lots have great privacy and are surrounded by wooded conservation land parcels that are hundreds of acres in size. Numerous lots have beautiful lake and/or mountain views. The community as a whole makes recreation a high priority with access to snowmobile and hiking trails throughout the development. You also have access to Squam Lake through Riveredge Marina. The marina offers covered and uncovered slips, boathouses, day docking, and a valet service with dry berths to accommodate all types of boats. Riveredge also offers a community center and roof top deck and adjacent to that is a town Beach on Little Squam Lake.

    Homes blend well into the landscape with a variety of designs and floor plans reminiscent of Adirondack lodges and cottages. Home designs and construction methods are Energy Star compliant and LEED and NAHB Green eligible. Construction methods employed are energy efficient, conserve water use, conserve local resources and control site development. The current model home is available for tours to see the level of craftsmanship and finishes available. Whether you are looking for a year round residence or vacation get away, Lakeview Homes at Squam River Landing offers the ideal environment for family life. Rarely does a development combine the attributes of the region so seamlessly with modern day construction and exquisite house design. Development is listed by Paula Hinckley and Carl Sack of Four Seasons Sotheby's International Realty.

    If you would like to view the development in person or receive a full information package please contact Brian Neidhardt of Four Seasons Sotheby's International Realty at 603-738-3798 or Ruth Neidhardt at 603-455-0176. To see additional information and pictures click here. To view additional properties in the Lakes Region please visit this site: www.nhlakesproperty.com

    Squam River Landing Model home at Squam River Landing

     

    Comments

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      • Adrian Kelly on

        Work with Ruth Neidhardt? I don't think so. She's a bitter thorn in the side of the entire real estate community around the lakes.

        New Construction Real Estate on Lake Winnipesaukee

        nhlakesproperty.com 25 Cooks Point Road, Moultonboro

        One of the finest locations on Lake Winnipesaukee is getting closer to completion. 25 Cooks Point Road is located in the much sought after Kona region of Moultonboro on what many have called the "Gold Coast." This particular location features long panoramic views and sandy shorefront. The house is being constructed by Scott Fuller Development one of the premier builders in the Lakes Region. The Adirondack inspired lodge features 4,400 square feet of living space, 200 feet of sandy walk-in waterfront and 1.27 acres of land. It includes 4 bedrooms and 6 baths along with a custom gourmet kitchen, hardwood flooring, stone fireplaces, screen porch and great attention to detail. Another highlight of the property is that you also have a small lakeside cabin on the lot which can be a game room, entertaining space or used for overflow guests.

        Moultonboro is well known to have the lowest taxes in the state of New Hampshire, which when you are buying a waterfront on Lake Winnipesaukee can be a huge savings in terms of real estate taxes. Property is being offered for $2,895,000. Listed by JoAnn Fuller. If you would like additional details on the home including a spec list of finishes please contact Brian Neidhardt at 603-738-3798 or e-mail to brian.neidhardt@gmail.com. To see additional Lake Winnipesaukee properties please click here.

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        Comments

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          Grouse Point Club Home Overlooking Lake Winnipesaukee

          Lake Winnipesaukee Real Estate 63 Hawk Ridge Road

          63 Hawk Ridge Road at the Grouse Point Club is one of those rare properties that comes on the market that combines an extraordinary location with great attention to detail. Located on the "Ridge" at Grouse Point this home has over 4600 square feet with 4 bedrooms and 5 baths with the ever important first floor master suite. The master wing has large custom bath with a glass enclosed steam shower, jetted tub and professionally built cabinetry. The open concept design utilizes the amazing views to allow for natural light to fill the living spaces and provide lake views to almost every room in the house. The living room has palladium windows that bring the outside in with views of not only Lake Winnipesaukee but also the Belknap and Ossipee Mountains. The deck and screen porch allow for outside entertaining but while still enjoying the long views. The property also has a large dock available for purchase. You can easily boat to downtown Meredith in under 10 minutes or Wolfeboro in 45 minutes.

          The Grouse Point Club offers some of the finest amenities of any gated community in the Lakes Region. The GPC clubhouse has an indoor heated pool, large fitness room, function room with commercial grade catering kitchen and extensive outside decks for lounging or events. The waterfront features 3 sugar sand beaches, yacht club with deeded dock and mooring field and bath houses. GPC also offers lighted tennis courts, basketball and a children's playground.

          Downtown Meredith is only 5 minutes away for some of the finest restaurants on Lake Winnipesaukee along with local shopping. 63 Hawk Ridge Road is being offered for $1,197,000. Property is listed by Brian and Ruth Neidhardt. For additional details please call Brian at 603-738-3798 or Ruth at 603-455-0176. 

          To see additional homes on Lake Winnipesaukee please click here.  #nhlakesproperty #meredithnh #grousepoint

          nhlakesproperty.com View from 63 Hawk Ridge Road

          Stunning Springfield Pt Road Home on Lake Winnipesaukee

          nhlakesproperty.com 212 Springfield Point in Wolfeboro

          When it comes to location few properties on Lake Winnipesaukee can equal the panoramic views from Springfield Point in Wolfeboro New Hampshire. This particular home hasn't been on the market since 1973 but has some of the finest views of any home on the Winnipesaukee market today. When you combine the extraordinary location with 180 feet of waterfront including a sugar sand beach, u-shaped dock and western exposure, it doesn't get much better than this.

          The home was originally constructed in 1958 but has been enlarged and upgraded throughout the years. Featuring five bedrooms and over 3000 square feet the home can be enjoyed right away as is or it can serve as a great location for building your dream home. A location such as this can support a large scale remodel or entirely new construction. Although the property has great privacy, you are still only 10 minutes away from downtown Wolfeboro by boat or car. Wolfeboro is the oldest resort town in America and has numerous restaurants, specialty shops with many sitting right on the shores of Lake Winnipesaukee. The home is currently offered at $2,100,000. Property is listed by Roy Sanborn of Four Seasons Sotheby's International Realty.

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          If you would like tour this great property please contact Brian Neidhardt of Four Seasons Sotheby's International Realty at 603-738-3798 or Ruth Neidhardt at 603-455-0176.  Property listed by Roy Sanborn.

          To see additional properties available on Lake Winnipesaukee please visit www.nhlakesproperty.com . To sign up for listing alerts to know when new properties come on the market click here!

          Meredith Sculpture Walk Brings Art to Main Street

          If you haven't noticed lately, downtown Meredith is becoming home to many hand-crafted pieces of art. From Main Street to parks along Lake Winnipesaukee,

          NH Lakes Property Meredith Sculpture Walk

          various works of art are being displayed for everyone to enjoy. The first pieces were installed by the Greater Meredith program.

          The first works of art were installed in early June, with 13 pieces now on display. If the program stays on course there will be 24 sculptures in very visible locations including Mill Falls, Main Street along with Hesky and Scenic parks. The artists participating were jury selected and their pieces will be on display for up to two years, being replaced on a rotating basis each year.

          A Greater Meredith Program "jury" chose the art work to ensure that the work was not controversial and didn't have any sharp edges for safety reasons. Each sculpture will have a plaque that includes the name of the sculpture along with the artist's name and contact information. Walking maps and brochures will be made available soon and be found throughout Meredith at local shops, Town Hall, Chamber of Commerce and Mill Falls. The opening ceremony and walk is planned for July 28th.

          For this artists who are looking to submit work. The next application period is in late 2015. For additional information visit Greater Meredith Program's website at www.greatermeredithprogram.com

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          Beautiful Grouse Point Home with Access to Lake Winnipesaukee

          Lake Winnipesaukee Gated Home
          Grouse Point home in Meredith on Falcon Lane.

          This lovely Grouse Point home at 3 Falcon Lane was one of the last to be built in the gated community. Overall square footage is 3,253 with 4 bedrooms and 4 baths. The home has an open concept design with a large kitchen flowing into both the dining room and living room. To say that this house was designed for entertaining would be an understatement. The main level features a large master bedroom suite with a jetted tub and dual sink vanity. If you are looking for one floor living, it can be easily accomplished here. Also on the main floor is a sunroom and a three season porch with access to the deck. Views from the deck are maintained by a large amount of common area and green space.

          On the lower level you have a very large family room with a walkout to a patio along with 3 bedrooms and two full baths. The Grouse Point community features amazing Lake Winnipesaukee waterfront with three sugar sand beaches, yacht club with docks and mooring field all accessed by golf cart or on foot.

          Grouse Point Home in Meredith NH Large open floor plan.

          Boating is a snap from this location with downtown Meredith only being 10 minutes away and Wolfeboro 45 minutes. The club house on site sits on  a hill with some of the best views of Lake Winnipesaukee anywhere. With a large function room, indoor heated pool, fitness room and commercial grade kitchen, you can hold your own events or attend one of the many Grouse Point get togethers throughout the year. The community also offers lighted tennis courts, a basketball court and a playground for children. From Grouse Point you can be to local shopping and restaurants in Meredith in under 10 minutes. Property is offered at $729,000. If you would like to see this home and the community please contact Brian Neidhardt at 603-738-3798 or Ruth Neidhardt at 603-455-0176.

          Full listing page for 3 Falcon Lane: MLS #4354760

          To see additional homes please visit www.nhlakesproperty.com and you can also sign up for listing alerts for all Lakes Region NH towns based on your own criteria.

          NH Lakes Property Grouse Point Yacht Club

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            Custom Waterfront Home in Barnstead NH with it's Own Pond

            Lakes Region Real Estate Custom Home with it's own pond.

            Designed by a well renowned Manhattan architect, this custom lakes region waterfront home has a little bit of everything. The home was built in 2000 with a great attention to detail right at the waters edge on a 52 acre private lot which includes it's own picturesque 12 acre pond. Around the property you will find walking paths and scenic vistas that only you have access to. The pond also features great fishing and can be controlled by a dam on the land.

            The contemporary home has 4200 square feet of living space with 4 bedrooms and 3 baths. Radiant heat provides warmth below your feet and with a 10 kilowatt generator back up you will always be ready if you loose power in the winter. The design of the home includes lots of windows allowing for passive solar heat and most importantly views of the waterfront and pond. What do you do when winter rolls in and you can't swim in the pond, you jump in the indoor pool or jacuzzi tub to warm up. The wide open kitchen opens up to the dining room and is perfectly suited for entertaining large amounts of family and friends. Speaking of the kitchen, it is finished with italian tile, Thermador and Sub Zero appliances along with multiple sinks and lots of counter space.

            The property is located only 15 minutes from Lake Winnipesaukee, 30 minutes from Concord, 1 hour from Manchester airport and less than 2 hours from downtown Boston. If you have been looking for a truly unique and ultra private compound, then 230 Beauty Hill Road in Barnstead is a must see. Offered at $749,000. Please contact Brian Neidhardt at 603-738-3798 or Ruth Neidhardt at 603-455-0176 to arrange a private showing. 

            To see additional properties please visit our site www.nhlakesproperty.com and please visit our Facebook page to see whats happening in Lakes Region real estate.

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            Lake Winnipesaukee Luxury Home for Sale: Governors Island

            lake winnipesaukee real estateWhat is on your checklist for your next Vacation Home. Sandy Beach? Open Water Views? Plenty of Bedrooms for Guests? Spacious Area to Entertain? Level Private Lot?  Stop Here!  As you enter the home you have a full service pub style bar off to the right and a family room to the left. The great room with a fireplace has open water views to Rattlesnake Island adding that perfect touch for a corporate party or family gathering. The kitchen has granite countertops and high end appliances and is perfectly situated to view the lake and guests . After you catch your breath the master bedroom suite is on the first floor, you have a total of 6 bedrooms and 3 bathrooms on just over 1 acre of perfectly manicured grounds. Ground level you have a family room and 2nd kitchen plus outdoor grilling area. The private beach has 125 feet of sugar sand beach and dock. Garage space, 2 car oversized attached garage plus 2 car detached garage. This executive home includes all amenities of Governors Island. Short drive to golf and ski areas.

            For additional information on this home call Carl at 603-566-2386 or Four Seasons | Sotheby's International Realty at 1-603-677-7012 or e-mail at info@nhlakesproperty.com  or visit our website to view similar lake homes in New Hampshire at www.nhlakesproperty.com

            Contact us today to see if this home is still available??

            Gilmanton Iron Works, Home, Land, Views for Sale

            front of home- 1a view from porch with barnSpectacular Views from this well-appointed, almost new, 2,900 square foot country home on 26 acres, 16 of which are open fields. View Deer, Turkey and an occasional Moose from this idyllic setting. Enjoy sunrises from the back of the home & sunsets from your front wrap around porch. Wonderful mountain views east & west. Gourmet kitchen has granite counter tops with a wood fi replace. The front to back living room has a wonderful fireplace. Wood floors up and down add to the warmth. The second floor features 3 large bedrooms and master with fi replace along with a huge east facing window overlooking mountain and village views. Also included is a year round, 4,500 square foot  barn/work shop.

            This outstanding property offers total privacy and is an excellent location for a horse farm. Ideal commuter location to Concord, Manchester or the seacoast ..................................................................$495,000 For additional information on this home call Carl at  Four Seasons | Sotheby's International Realty at 1-603-677-7012 or e-mail at info@nhlakesproperty.com or visit our website to view similar lake homes in New Hampshire at www.nhlakesproperty.com

            Contact us today to see if this home is still available??