There’s been a bunch of talk about Zillow.com the new website that will “tell you what your home is worth” aaah, yeah…..not really.
As with anything thee days, it a good starting point, but it can’t take into the forward looking factors that we are seeing in the market today.
In Hood River, each neighborhood is experiencing micro trends, and they are ALL VERY RELEVANT TO THE VALUE OF EACH PROPERTY!
For example. There is a neighborhood Behind Rosauers that we call Sieverkropp. There are some great homes in there, but also some not so great. Last summer, while the lots were being built out, the values got pretty high. They corrected with the marketplace this winter, and then, just as prices were firming up……The developer of that neighborhood listed about 20 more lots. You can practically hear the air being let out of the neighborhood. Now, all it takes is one pressure sale, and the whole neighborhood gets marked down………
I’m sorry, but that doesn’t get covered by Zillow. Because it relies on public records, in an increasing market, you’ll always be undervalued, and in a declining market you’ll always be overpriced. What you need to know is what direction the neighborhood is trending, and most importantly, why.
This is very specifically relevant on the Westside, where each street, literally has it’s own profile. Each Street has it’s own trend and elements of value, and forecast of demand. Max’s loop? Certain factors. Montello? Different, May Street? Depends on the side. Son Rise Loop? depends on Hawk Meadows.
I could go on and on, but I think I’ve made my point. Granularity is everything, especially in the Hood River Market. This Spring, as the Market continues it’s choppy behavior, and each pairing of Buyer and Seller presents a “one off” transaction, it pays to know the streets, and the owners……and the trends. And…..