Saturday, November 29, 2008
Tuesday, November 18, 2008
249 Yacht Club Dr Fort Walton Beach Florida
Contact Brandon Jordan cell (850)-758-1236
Detached Single Family
.
MLS#:
409593 OfficeFile#: 27306
ListPrice:
$1,900,000
Status:
Active Last Change: 6/1/2007
ApproxSF:
5,932 BG:
Address:
249 YACHT CLUB DR
$/Sqft:
$320.29
FORT WALTON BEACH, FL
Bedrooms:
5
Zip:
32548
Baths Full/Half:
3/1
County:
OKALOOSA
Stories:
2
MainArea:
12 Fort Walton Beach
YearBuilt:
1970
SubArea:
02 EAST FORT WALTON BEACH
OccStat:
Occupied
Subdiv:
HUGHES ESTATES 2ND ADDN
ImmOcc?
Y
ParcelID:
12-2S-24-1251-0002-0070
ConstrStat:
ConstrCmplt
ElemSch: ELLIOTT POINT Middle: MEIGS High: CHOCTAWHATCHEE
Dir:
Eglin Pkwy east onto Yacht Club, house on left.
Legal:
HUGHES ESTATES 2ND LOTS 7 & 8 BLK 2
Another $500,000.00 price reduction.Property is now listed $1,050,000.00 below the appraised value from(10/31/2005)of $2,950,000.00.This one of a kind multi-level home on 2.05 acres was purchased in 2001 by the present owner then completely remodeled. The list of improvements is extensive, but the main items are the following: New dimensional shingle roof, new copper gutters around complete house, all new plumbing and electrical wiring, four new HVAC units, two gas and one wood burning fireplace, new sea wall and dock, all new windows and doors, sump pump system for house and lawn, gas line for outside BBQ, 200+ year old random width pine floors, travertine tiles in bathrooms,sunroom and outside porches, new ceramic tiles lower level of house, new ice-maker, dish washer, six burner cook-top and down draught in island, gas lighting along side of driveway, front porch and rear porch, powder coated railings on front and rear of house, surround sound with Bose speakers, state of the art security, wireless internet, Generac whole house gas generator, air conditioned attic space for extra storage,1365sf standup basement/storage/workshop area,four walk-in closets for the master suite and the list goes on and on. The sprinkler system needs work, and is being conveyed "as is". The lamp fixtures over the kitchen & dining room table plus the glass pantry door with the etched palm tree will be replaced with similar items.
ParkingSpaces:
Garage:2
Lot Dim.:
183.25X469.0X207.86X361.32
LotAcc:
Controlled Access, County Road, Paved Road
WatFrnt:
Bay, Riparian Rights, Shore: Seawall
PrkingFeat:
Guest, Other
Acres:
2.05
Zoning:
Residential Single Family
WatView:
Bay
WFFeet:
207
LotFeat:
Bulkhead/Seawall, Flood Insurance Required, Interior, Level, Survey Available
ProjFacil:
Room Type
Lvl
Dimnsns
Dining/Living
1
18x35
Design:
Spanish
SunRoom
1
19x28
Kitchen
1
22x23
Const/Siding:
Foundation Slab On Grade, Roof Composite Shingle, Siding Brick All
Bedrm:Master
1
16x20
Office
1
8x15
ExtFeatures:
Boat Slip, Boathouse, Boatlift, Columns, Dock, Fenced Privacy, Hurricane Shutters, Lawn Pump, Patio Covered, Patio Enclosed, Shower, Sprinkler System
Bath: Master
1
6x25
Bedrm:Additnl
1
13x17
IntFeatures:
Breakfast Bar, Ceiling:Crown Molding, Ceiling:Trayed/Coffered, Fireplace 2+, Fireplace:Gas, Floor:Hardwood, Floor:Tile, Guest Quarters, Kitchen:Island, Lighting:Recessed, Split Bedroom, Wallpaper, Washer/Dryer Hookup, Upgraded Media Wiring, Pantry
UtilityRoom
1
8x14
Other
1
9x14
Appliances:
Auto Garage Door Opener, Cooktop, Dishwasher, Disposal, Fire Alarm/Sprinkler, Ice Machine, Microwave, Oven:Double, Refrigerator W/Ice Maker, Security System, Smoke Detector
Bedrm:Additnl
2
14x15
Bedrm:Additnl
2
11x13
Utilities:
Electric, Gas:Natural, Phone, Public Sewer, Public Water, TV Cable
Bedrm:Additnl
2
13x16
Exercise
2
16x27
Energy:
A/C: Central Electric, A/C: High Efficiency, A/C: Two Or More, Attic Fan, Ceiling Fans, Double Paned Windows, Heat: Central Electric, Heat: High Efficiency, Heat: Two Or More, Insulated Doors, Ridge Vent, Water Heater: Electric, Water Heater: Gas, Water Heater: Two Or More
LivingRoom
2
13x15
Mbed/Mbath: Mbath Double Vanity, Mbath Separate Shower, Mbed First Floor, Mbed Sitting Area, Mbed Walk-In Closet, Mbed Waterfront, Mbed Balcony, Mbed Trey Ceiling
Detached Single Family
.
MLS#:
409593 OfficeFile#: 27306
ListPrice:
$1,900,000
Status:
Active Last Change: 6/1/2007
ApproxSF:
5,932 BG:
Address:
249 YACHT CLUB DR
$/Sqft:
$320.29
FORT WALTON BEACH, FL
Bedrooms:
5
Zip:
32548
Baths Full/Half:
3/1
County:
OKALOOSA
Stories:
2
MainArea:
12 Fort Walton Beach
YearBuilt:
1970
SubArea:
02 EAST FORT WALTON BEACH
OccStat:
Occupied
Subdiv:
HUGHES ESTATES 2ND ADDN
ImmOcc?
Y
ParcelID:
12-2S-24-1251-0002-0070
ConstrStat:
ConstrCmplt
ElemSch: ELLIOTT POINT Middle: MEIGS High: CHOCTAWHATCHEE
Dir:
Eglin Pkwy east onto Yacht Club, house on left.
Legal:
HUGHES ESTATES 2ND LOTS 7 & 8 BLK 2
Another $500,000.00 price reduction.Property is now listed $1,050,000.00 below the appraised value from(10/31/2005)of $2,950,000.00.This one of a kind multi-level home on 2.05 acres was purchased in 2001 by the present owner then completely remodeled. The list of improvements is extensive, but the main items are the following: New dimensional shingle roof, new copper gutters around complete house, all new plumbing and electrical wiring, four new HVAC units, two gas and one wood burning fireplace, new sea wall and dock, all new windows and doors, sump pump system for house and lawn, gas line for outside BBQ, 200+ year old random width pine floors, travertine tiles in bathrooms,sunroom and outside porches, new ceramic tiles lower level of house, new ice-maker, dish washer, six burner cook-top and down draught in island, gas lighting along side of driveway, front porch and rear porch, powder coated railings on front and rear of house, surround sound with Bose speakers, state of the art security, wireless internet, Generac whole house gas generator, air conditioned attic space for extra storage,1365sf standup basement/storage/workshop area,four walk-in closets for the master suite and the list goes on and on. The sprinkler system needs work, and is being conveyed "as is". The lamp fixtures over the kitchen & dining room table plus the glass pantry door with the etched palm tree will be replaced with similar items.
ParkingSpaces:
Garage:2
Lot Dim.:
183.25X469.0X207.86X361.32
LotAcc:
Controlled Access, County Road, Paved Road
WatFrnt:
Bay, Riparian Rights, Shore: Seawall
PrkingFeat:
Guest, Other
Acres:
2.05
Zoning:
Residential Single Family
WatView:
Bay
WFFeet:
207
LotFeat:
Bulkhead/Seawall, Flood Insurance Required, Interior, Level, Survey Available
ProjFacil:
Room Type
Lvl
Dimnsns
Dining/Living
1
18x35
Design:
Spanish
SunRoom
1
19x28
Kitchen
1
22x23
Const/Siding:
Foundation Slab On Grade, Roof Composite Shingle, Siding Brick All
Bedrm:Master
1
16x20
Office
1
8x15
ExtFeatures:
Boat Slip, Boathouse, Boatlift, Columns, Dock, Fenced Privacy, Hurricane Shutters, Lawn Pump, Patio Covered, Patio Enclosed, Shower, Sprinkler System
Bath: Master
1
6x25
Bedrm:Additnl
1
13x17
IntFeatures:
Breakfast Bar, Ceiling:Crown Molding, Ceiling:Trayed/Coffered, Fireplace 2+, Fireplace:Gas, Floor:Hardwood, Floor:Tile, Guest Quarters, Kitchen:Island, Lighting:Recessed, Split Bedroom, Wallpaper, Washer/Dryer Hookup, Upgraded Media Wiring, Pantry
UtilityRoom
1
8x14
Other
1
9x14
Appliances:
Auto Garage Door Opener, Cooktop, Dishwasher, Disposal, Fire Alarm/Sprinkler, Ice Machine, Microwave, Oven:Double, Refrigerator W/Ice Maker, Security System, Smoke Detector
Bedrm:Additnl
2
14x15
Bedrm:Additnl
2
11x13
Utilities:
Electric, Gas:Natural, Phone, Public Sewer, Public Water, TV Cable
Bedrm:Additnl
2
13x16
Exercise
2
16x27
Energy:
A/C: Central Electric, A/C: High Efficiency, A/C: Two Or More, Attic Fan, Ceiling Fans, Double Paned Windows, Heat: Central Electric, Heat: High Efficiency, Heat: Two Or More, Insulated Doors, Ridge Vent, Water Heater: Electric, Water Heater: Gas, Water Heater: Two Or More
LivingRoom
2
13x15
Mbed/Mbath: Mbath Double Vanity, Mbath Separate Shower, Mbed First Floor, Mbed Sitting Area, Mbed Walk-In Closet, Mbed Waterfront, Mbed Balcony, Mbed Trey Ceiling
yacht club north light in niceville florida
NICEVILLE, Fla.--(BUSINESS WIRE)--North Light Yacht Club today unveiled its custom-built information center, marking the completion of Phase One of the multi-million dollar luxury yacht club, marina and dry storage facility. North Light Yacht Club is located on 734 feet of waterfront along Choctawhatchee Bay at the intersection of Highway 85 and Highway 20 in the heart of northwest Florida.
North Light Yacht Club was created to provide an all-inclusive boating experience to boaters and their families on the Gulf Coast. Amenities and services will include a full-service restaurant with al fresco dining, an outdoor pool and spa, fitness center, concierge services and organized activities and events for adults and children. Among the club's unique features will be the ability of its members to own an individual dry slip in the North Light Boathouse, an on-site 280-slip dry storage condominium facility built to withstand 130 mph winds. Slips ranging from 30-40 feet can be purchased or leased with an option to purchase through one of North Light's sales programs through Aquatic Resort Properties and Cabela's Trophy Properties, LLC.
The marina will be operated by Coastal Marina Management, affiliated with Galati Yachts, and will offer wholesale fuel, launching services and wet slips for members. The club plans to partner with several reputable boat brokers for members who wish to purchase a boat.
Phase Two, slated for completion in early 2009, will include construction of the state-of-the-art marina, dry storage facility, pool and pool deck and The Bridge - a 4,200 square-foot, two-story clubhouse featuring a bar and grill, nicely-appointed restrooms and showers and The Fleet Room, available for social gatherings and meetings.
"The view from The Bridge will be spectacular because it's right on the waterfront," said Liz Empson, North Light director of sales. "Members and their families will be able to enjoy themselves in a classy, but relaxed environment. Here, luxury will be comfortable and attainable for families."
Phase Three includes the construction and grand opening of the 12,000 square-foot clubhouse and will commence once Phase Two is complete.
"Service is paramount at North Light Yacht Club," said Joe Winkeler of Ozean, LLC, owner and developer of the project. "We want to provision the boats and help families launch in the morning and then guide them back in after a full day out on the water. We'll unload, clean and retire the boat back into its slip while the family socializes and enjoys dinner together at the club. It's about letting real, everyday people indulge. And the club's location in Niceville will provide boaters with easy, convenient access to the entire Gulf Coast."
Renderings, descriptions of amenities and pricing are all available at the new Information Center. Currently, the club is offering dry-slip, social and corporate memberships. Those interested must complete and submit a signed membership application and deposit.
The club is a 15-minute boat ride to the Gulf of Mexico, a 10-30 minute drive from most Okaloosa and Walton County resorts and a 10-minute drive to Okaloosa Regional Airport
North Light Yacht Club was created to provide an all-inclusive boating experience to boaters and their families on the Gulf Coast. Amenities and services will include a full-service restaurant with al fresco dining, an outdoor pool and spa, fitness center, concierge services and organized activities and events for adults and children. Among the club's unique features will be the ability of its members to own an individual dry slip in the North Light Boathouse, an on-site 280-slip dry storage condominium facility built to withstand 130 mph winds. Slips ranging from 30-40 feet can be purchased or leased with an option to purchase through one of North Light's sales programs through Aquatic Resort Properties and Cabela's Trophy Properties, LLC.
The marina will be operated by Coastal Marina Management, affiliated with Galati Yachts, and will offer wholesale fuel, launching services and wet slips for members. The club plans to partner with several reputable boat brokers for members who wish to purchase a boat.
Phase Two, slated for completion in early 2009, will include construction of the state-of-the-art marina, dry storage facility, pool and pool deck and The Bridge - a 4,200 square-foot, two-story clubhouse featuring a bar and grill, nicely-appointed restrooms and showers and The Fleet Room, available for social gatherings and meetings.
"The view from The Bridge will be spectacular because it's right on the waterfront," said Liz Empson, North Light director of sales. "Members and their families will be able to enjoy themselves in a classy, but relaxed environment. Here, luxury will be comfortable and attainable for families."
Phase Three includes the construction and grand opening of the 12,000 square-foot clubhouse and will commence once Phase Two is complete.
"Service is paramount at North Light Yacht Club," said Joe Winkeler of Ozean, LLC, owner and developer of the project. "We want to provision the boats and help families launch in the morning and then guide them back in after a full day out on the water. We'll unload, clean and retire the boat back into its slip while the family socializes and enjoys dinner together at the club. It's about letting real, everyday people indulge. And the club's location in Niceville will provide boaters with easy, convenient access to the entire Gulf Coast."
Renderings, descriptions of amenities and pricing are all available at the new Information Center. Currently, the club is offering dry-slip, social and corporate memberships. Those interested must complete and submit a signed membership application and deposit.
The club is a 15-minute boat ride to the Gulf of Mexico, a 10-30 minute drive from most Okaloosa and Walton County resorts and a 10-minute drive to Okaloosa Regional Airport
yellow river canoe trail
Shoal River Canoe TrailThe Shoal River Canoe Trail is officially designated as part of Florida's Statewide System of Greenways and Trails. Twisting and turning through a remote part of the western Panhandle, the Shoal River trail covers 27 miles. Few indications of civilization are evident as you paddle through forests of maple, oak, gum, and cypress. Along the trail, creeks broaden into small lily-covered pools that provide excellent fishing. Sandbars along the bends of the river make good campsites. This narrow river is usually 3-4 feet deep, and water levels do not generally fluctuate more than 3 feet.
Click here for printer-friendly map and description (PDF 393 kb).
Major Activities Counties: Okaloosa, WaltonMileage: 27Skill Level: BeginnerDifficulty: EasyUsual Current: Average (2-3 mph)
Notes and PrecautionsBetween Access 1 and 2, there are two wooden bridges that collect debris which can be dangerous, especially at high water. The end of the trail is on the northern boundary of the Eglin Air Force Base Reservation. Obtain a base recreation permit if you plan to enter the reservation. Information about permits can be obtained by calling (850) 882-4164 or writing Eglin National Resources, 107 Highway 85 North, Niceville, FL 32578. You can continue seven miles past the takeout at SR 85 to the junction with the Yellow River, another state canoe trail.
Access
SR 285 Bridge - 3.5 miles north of US 90 / SR 285 junction
SR 393 Bridge - About 3 miles north of SR 393 / US 90 intersection. (10 miles)
US 90 Bridge - 4 miles east of Crestview. (8 miles)
SR 85 Bridge - At wayside park, 5 miles south of Crestview. (9 miles)
There may be access points (both public and private) in addition to those listed here. Please remember that some sites require a fee for launching and/or parking.
Click here for printer-friendly map and description (PDF 393 kb).
Major Activities Counties: Okaloosa, WaltonMileage: 27Skill Level: BeginnerDifficulty: EasyUsual Current: Average (2-3 mph)
Notes and PrecautionsBetween Access 1 and 2, there are two wooden bridges that collect debris which can be dangerous, especially at high water. The end of the trail is on the northern boundary of the Eglin Air Force Base Reservation. Obtain a base recreation permit if you plan to enter the reservation. Information about permits can be obtained by calling (850) 882-4164 or writing Eglin National Resources, 107 Highway 85 North, Niceville, FL 32578. You can continue seven miles past the takeout at SR 85 to the junction with the Yellow River, another state canoe trail.
Access
SR 285 Bridge - 3.5 miles north of US 90 / SR 285 junction
SR 393 Bridge - About 3 miles north of SR 393 / US 90 intersection. (10 miles)
US 90 Bridge - 4 miles east of Crestview. (8 miles)
SR 85 Bridge - At wayside park, 5 miles south of Crestview. (9 miles)
There may be access points (both public and private) in addition to those listed here. Please remember that some sites require a fee for launching and/or parking.
young investors program
Young Investor Program in June
Young investors can be future millionaires. Classes are being conveniently planned in June, in Ft. Walton Beach and Crestview, to assist young people in planning their financial future. Call 689-5850, 729-1400, extension 5850, or email lboutwell@co.okaloosa.fl.us to find out how to save, invest, increase personal wealth and have fewer credit problems. Young Investor Program Classes are being held at the following locations and pre-registration is required. Classes are presented by the University of Florida/IFAS (Institute of Food & Agricultural Services) Extension in Okaloosa County. This program is made possible by a grant from the NASD (National Association Securities Dealers) Investor Education Foundation.
June 4-11, Ft. Walton Beach
6-8:30 p.m., Okaloosa Extension Office, 127 W. Hollywood Blvd.
June 15-12, Crestview
6-8:30 p.m., Okaloosa Extension Office, 5479 Old Bethel Road
Young investors can be future millionaires. Classes are being conveniently planned in June, in Ft. Walton Beach and Crestview, to assist young people in planning their financial future. Call 689-5850, 729-1400, extension 5850, or email lboutwell@co.okaloosa.fl.us to find out how to save, invest, increase personal wealth and have fewer credit problems. Young Investor Program Classes are being held at the following locations and pre-registration is required. Classes are presented by the University of Florida/IFAS (Institute of Food & Agricultural Services) Extension in Okaloosa County. This program is made possible by a grant from the NASD (National Association Securities Dealers) Investor Education Foundation.
June 4-11, Ft. Walton Beach
6-8:30 p.m., Okaloosa Extension Office, 127 W. Hollywood Blvd.
June 15-12, Crestview
6-8:30 p.m., Okaloosa Extension Office, 5479 Old Bethel Road
Youtube
We are proud to present, as a service to everyone viewing our site, that we will be bringing you every episode of our brand new TV show called "Team Sold Real Estate TV" that airs on CW, FOX, & WEAR-3 after Jimmy Kimmel. Just visit TeamSoldTV.com and click on the link under "Episodes" in the middle of our page in the "Interactive" section. Our show will will be bringing you information that we hope you will find helpful, from many of the home industries' top professionals from title companies to loan officers. Our first two episodes feature Patrice Bobo-Miles with Countrywide Home Loans. Email us your questions now at www.TeamSoldTV.com and we will answer your questions on upcoming shows. We will also be showing you many unique properties from Panama City to Pensacola in upcoming shows as well. If you are outside of our viewing area we have you covered; all our episodes will be available right here.
Zillow
users with how sales prices have been trending where it matters - in their county, city, ZIP code
and neighborhood.
While Trulia is neither run by agents nor brokers, and claims to make money through advertising
rather than lead generation, ultimately the twin pillars that comprise its belief system are not too
far afield from that of Zillow.com:
• Looking for a home shouldn't be a miserable experience
• Information should be made freely and easily available to everyone
Access to information certainly can help a homebuyer make an informed decision. But if it isn't the
right information, or could easily be misinterpreted - and comes without disclaimers - is access to
it still a good thing?
The National Community Reinvestment Coalition, a Washington, D.C. based non-profit organization
that promotes equal access to credit and capital for underserved communities, doesn't think so.
In a 12-page complaint against Zillow.com filed with the Federal Trade Commission in October
2006, it says Zillow's "mechanism is highly inaccurate and misleading to consumers." The NRC
also notes - citing its own audit - that Zillow's "zestimates" are "off the mark" more than twothirds
of the time.
While Zillow does disclose the accuracy rates for major markets where it values homes (for
example, in the New York metropolitan area) it notes that just 52 percent of its estimates are
within 10 percent of a home's selling price, one of its worst accuracy rates. In the Seattle area, 73
percent of the company's estimates are within 10 percent of a selling price.
David Berenbaum, an executive vice president at the NRC who revealed his home's appraisal was
undervalued by Zillow by more than $30,000 said, "We are concerned about consumers relying on
the inaccurate information and getting into a bad loan." He also said low-income homeowners
have been targeted by predatory lenders who utilize the inaccurate information on Zillow to justify
their lending practices.
Still, as a real estate professional you know full well that the buying and selling of homes can and
never will be "commoditized." While certainly the appraisal aspect of the transaction needs to be
taken into consideration by all parties, it remains only a single step on the protracted journey of
bringing buyer and seller together.
In spite of "sell your own home" type enterprises, most homeowners have neither the time nor the
wherewithal to handle marketing their homes and attracting buyers. Even in 2008, to give a
property the highest chance to be sold, most people would recommend listing it in the Multiple
Listing service, a service that requires the assistance of a real estate pro.
Information on appraisals and valuation may indeed help both buyer and seller to come to terms.
In fact, it may have the intended effect of arming the buyer with more negotiating power to lower
prices while also helping to ensure that a seller is realistic in their expectations. As a real estate
professional, however, you want to caution buyers and sellers alike that a website, - whether it's
Zillow.com, Trulia.com or something else entirely - no matter how comprehensive and "marketsensitive"
it appears to be, will likely always have its limitations and fine print.
This article is for informational purposes only. Please refer to each respective website for the
Terms of Service. As with any content posting you should consult your own attorney as to any
legal considerations that should be contemplated prior to participation.
and neighborhood.
While Trulia is neither run by agents nor brokers, and claims to make money through advertising
rather than lead generation, ultimately the twin pillars that comprise its belief system are not too
far afield from that of Zillow.com:
• Looking for a home shouldn't be a miserable experience
• Information should be made freely and easily available to everyone
Access to information certainly can help a homebuyer make an informed decision. But if it isn't the
right information, or could easily be misinterpreted - and comes without disclaimers - is access to
it still a good thing?
The National Community Reinvestment Coalition, a Washington, D.C. based non-profit organization
that promotes equal access to credit and capital for underserved communities, doesn't think so.
In a 12-page complaint against Zillow.com filed with the Federal Trade Commission in October
2006, it says Zillow's "mechanism is highly inaccurate and misleading to consumers." The NRC
also notes - citing its own audit - that Zillow's "zestimates" are "off the mark" more than twothirds
of the time.
While Zillow does disclose the accuracy rates for major markets where it values homes (for
example, in the New York metropolitan area) it notes that just 52 percent of its estimates are
within 10 percent of a home's selling price, one of its worst accuracy rates. In the Seattle area, 73
percent of the company's estimates are within 10 percent of a selling price.
David Berenbaum, an executive vice president at the NRC who revealed his home's appraisal was
undervalued by Zillow by more than $30,000 said, "We are concerned about consumers relying on
the inaccurate information and getting into a bad loan." He also said low-income homeowners
have been targeted by predatory lenders who utilize the inaccurate information on Zillow to justify
their lending practices.
Still, as a real estate professional you know full well that the buying and selling of homes can and
never will be "commoditized." While certainly the appraisal aspect of the transaction needs to be
taken into consideration by all parties, it remains only a single step on the protracted journey of
bringing buyer and seller together.
In spite of "sell your own home" type enterprises, most homeowners have neither the time nor the
wherewithal to handle marketing their homes and attracting buyers. Even in 2008, to give a
property the highest chance to be sold, most people would recommend listing it in the Multiple
Listing service, a service that requires the assistance of a real estate pro.
Information on appraisals and valuation may indeed help both buyer and seller to come to terms.
In fact, it may have the intended effect of arming the buyer with more negotiating power to lower
prices while also helping to ensure that a seller is realistic in their expectations. As a real estate
professional, however, you want to caution buyers and sellers alike that a website, - whether it's
Zillow.com, Trulia.com or something else entirely - no matter how comprehensive and "marketsensitive"
it appears to be, will likely always have its limitations and fine print.
This article is for informational purposes only. Please refer to each respective website for the
Terms of Service. As with any content posting you should consult your own attorney as to any
legal considerations that should be contemplated prior to participation.
Zillow and Trulia are affecting the real estate industry
How Sites Such as Zillow and Trulia
are Affecting the Real Estate Industry
It used to be that real estate sales associates were the only people who had the "inside scoop" on
properties. They could tell you what a house sold for, what the neighbor's house sold for,
estimated taxes, land size, year built, etc, etc. And most importantly, they knew the secret
formula for finding the value of a home. With the introduction of sites such as Zillow.com and
Trulia.com, those days are seemingly over, as almost any Joe Shmoe with access to a computer
can put himself in the driver's seat of real estate. Or can he? We will explore these two new
relatively newcomers to the Real Estate Industry below.
Zillow.comis a website where you can go to find an instant online valuation of over 60 million
homes in the United States. The brainchild of Richard Barton, who also founded Expedia.com a
decade ago, Zillow.com is built on a similar model. Expedia.com helped leapfrog travel agents by
giving consumers the same tools to book reservations that those agents had long controlled.
Zillow.com, in turn, offers property information that heretofore has been beyond the reach of
buyers and sellers alike, particularly those who, for whatever reason, decided against engaging a
real estate sales associate.
Practically speaking, buyers (or even sellers, for that matter), can go to www.zillow.com, type in
an address and receive an instant valuation of one or all homes on a street or neighborhood.
To extract that valuation, Zillow's software pores over public county records and other government
data on more than 60 million homes nationwide. It then uses a proprietary computer analysis to
come up with current values, which the company calls "zestimates." As found on their website,
"When our statisticians developed the model to determine home values, they explored how homes
in certain areas were similar (i.e., number of bedrooms and baths, and a myriad of other details)
and then looked at the relationships between actual sale prices and those home details. These
relationships form a pattern, and they used that pattern to develop a model to estimate a market
value for a home." So, one part public data such as assessors' records, one part actual sales data,
and a few parts speculation, create a zestimate. At one point, Zillow indicated their own
confidence level in individual zestimates by providing a range of stars, much like a movie review.
However, such guidance no longer exists.
A complementary but unaffiliated site to Zillow.com is Trulia.com, a real estate search engine that
helps buyers find homes for sale and provides real estate information at the local level. The site
claims that buyers, through information found on their site as part of its five-step process to
pinpoint specific zip codes and neighborhoods, can better understand real estate trends at the local
level. For example, a buyer will understand how a potential future home stacks up compared to
similar homes on the market, and similar homes that have recently sold. Additionally, it supplies
are Affecting the Real Estate Industry
It used to be that real estate sales associates were the only people who had the "inside scoop" on
properties. They could tell you what a house sold for, what the neighbor's house sold for,
estimated taxes, land size, year built, etc, etc. And most importantly, they knew the secret
formula for finding the value of a home. With the introduction of sites such as Zillow.com and
Trulia.com, those days are seemingly over, as almost any Joe Shmoe with access to a computer
can put himself in the driver's seat of real estate. Or can he? We will explore these two new
relatively newcomers to the Real Estate Industry below.
Zillow.comis a website where you can go to find an instant online valuation of over 60 million
homes in the United States. The brainchild of Richard Barton, who also founded Expedia.com a
decade ago, Zillow.com is built on a similar model. Expedia.com helped leapfrog travel agents by
giving consumers the same tools to book reservations that those agents had long controlled.
Zillow.com, in turn, offers property information that heretofore has been beyond the reach of
buyers and sellers alike, particularly those who, for whatever reason, decided against engaging a
real estate sales associate.
Practically speaking, buyers (or even sellers, for that matter), can go to www.zillow.com, type in
an address and receive an instant valuation of one or all homes on a street or neighborhood.
To extract that valuation, Zillow's software pores over public county records and other government
data on more than 60 million homes nationwide. It then uses a proprietary computer analysis to
come up with current values, which the company calls "zestimates." As found on their website,
"When our statisticians developed the model to determine home values, they explored how homes
in certain areas were similar (i.e., number of bedrooms and baths, and a myriad of other details)
and then looked at the relationships between actual sale prices and those home details. These
relationships form a pattern, and they used that pattern to develop a model to estimate a market
value for a home." So, one part public data such as assessors' records, one part actual sales data,
and a few parts speculation, create a zestimate. At one point, Zillow indicated their own
confidence level in individual zestimates by providing a range of stars, much like a movie review.
However, such guidance no longer exists.
A complementary but unaffiliated site to Zillow.com is Trulia.com, a real estate search engine that
helps buyers find homes for sale and provides real estate information at the local level. The site
claims that buyers, through information found on their site as part of its five-step process to
pinpoint specific zip codes and neighborhoods, can better understand real estate trends at the local
level. For example, a buyer will understand how a potential future home stacks up compared to
similar homes on the market, and similar homes that have recently sold. Additionally, it supplies
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