What’s My Long Beach Home Value?

If you’re a homeowner and you’re wondering about your Long Beach home value, you may be perplexed. There’s the assessed value, there’s the “Zestimate,” and if you’ve had your home appraised, that may have provided you with an even different value. So which number should you believe?

When “CBS This Morning” co-host Norah O’Donnell asked the chief executive of Zillow recently about the accuracy of the websites automated property value estimates — known as “Zestimates”– she touched on one of the most sensitive perception gaps in American real estate. Zillow is the most popular online real estate information site. Along with listing information on homes, it also provides home value data, which is routinely used by shoppers, sellers and buyers, who use these numbers in their decision-making process.

Yet, according to Zillow CEO Spencer Rascoff, the “Zestimates” have a “median error rate” of about 8 percent. On a $500,000 house, that could mean a $40,000 disparity. Rascoff deemed the Zestimates “a good starting point” but if you are considering selling your home and crunching numbers to see whether it makes sense, you should have more reliable information. In Long Beach CA and surrounding areas, a recent review of numbers shows that some recent sales prices were very close to the homes’ Zestimates, and others were off by more than $40,000.

The value of your home is a constantly moving target as the market fluctuates, but if you want to know what the current “market value” is, the best course of action is to ask a local Realtor to provide you with a comprehensive market evaluation of your home, taking into account its condition, location, and local neighborhood market patterns. If you’d be interested in finding out the value of your home in the Greater Long Beach area, please let us know.

About the Author

Shannon Jones has been selling real estate since 1998 and specializes in listing and marketing homes. She has consistently been one of the top Realtors in the Long Beach area. Prior to her award-winning career in real estate with the Shannon jones Team, Shannon has had successful careers in journalism and public relations. She holds a bachelors degree from UC Irvine and a masters degree from UC Berkeley. Shannon holds E-Pro, CDPE (Certified Distressed Property Expert), and PSC (Pre-Foreclosure Specialist) certifications. Shannon is very personable and maintains a very strong moral compass, always putting the best interest of home buyers/sellers above monetary goals. A California native, Shannon enjoys gardening, travel, reading, cooking and poker when she’s not selling homes MY DESIGNATIONS Lic# 01247705 | CDPE (Certified Distressed Property Expert) | E-Pro | PSC (Pre-Foreclosure Specialist) MY SERVICE AREAS Anaheim Bellflower Buena Park Carson Cerritos Cypress Downey Fountain Valley Garden Grove Huntington Beach La Palma Lakewood Long Beach Los Alamitos Los Angeles County Norwalk Orange County Rossmoor San Pedro Seal Beach Signal Hill South Bay Westminster

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