I've been a member of Zillow's real estate community since 2006. On individual homes their Zestimate values can be way off---sometimes too low and less frequently a bit on the high side. However, for general statistics they provide some great information. This information was taken from an email I received from Zillow today:
| According to the latest Zillow Real Estate Market Reports, home values in Rancho Palos Verdes decreased 9.9% in the first quarter of 2009, compared to the first quarter of 2008. Nationally, home values decreased 14.2% during this same period. Most Homeowners No Longer in Denial According to our just-released Q1 Homeowner Confidence Survey, 60% of U.S. homeowners believe their home has lost value in the past 12 months. In reality, 80% of U.S. homes have declined in value over the past 12 months. |
It is shocking to lose 10% of your home's value, but realistic expectations and at market prices are a giant step forward on the road to recovery for the local, as well as the national, housing market.
Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach.
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