The Big Z Zillow incorrect?

Zillow vs. Redfin: Who has the Most Accurate Estimate?

Real estate websites like Zillow and Redfin are a resource for home buyers or homeowners looking to get an idea of the value of a home they are interested in buying or refinancing.  Like any free tools, Zillow and Redfin’s valuation estimate tools are not 100% reliable.  Homeowners upgrade homes over time, some neighborhoods have homes with comparable attributes, while other homes are more spread out and very different from their nearest neighbors.  Understanding that free real estate resources will not be perfect every time, who has the most accurate estimate tool: Zillow or Redfin?

An independent study showed Redfin had a median national error rate of just 1.77% for homes that are currently on the market, and a median national error rate of 6.66% for homes that are not currently on the market.  As of February 2019, Redfin has a total of 74.4 million properties in its database, 1.3 million that are listed for sale, and 73.1 million are off market.  Zillow does not segment its margin of error by homes that are  listed for sale versus homes that are off market. 

 Zillow’s median national error rate is 4.5%.  However, Zillow has enlisted the support of data scientists around the world to reduce its median national error rate to 4.0%. 

For many professional appraisers, a 4% median error rate is acceptable, however it’s important to understand that a median national error rate can be skewed.  In new home communities, where homes are based on select plans the margin of error will likely be lower.  In rural communities where homes are more spread out, there will be fewer neighbors to compare to, and likely a larger margin of error.  In communities where homes are older and fewer homes have been recently sold, the data will be older and thus the margin of error will be larger. 

While real estate websites can help you get an idea of what your home is worth or a home you are looking to buy, real estate professionals have access to other valuation tools and listing services, including the MLS.  Through the MLS, Realtors and real estate agents get early access to listings before they are public.  Professional appraisers are also trained to value all of the specific details of a home including upgrades, age, area, and other factors that may not be detected by generic valuation algorithms. 

If you want to have a professional valuation for free, contact me

or my website here  https://www.propertyrate.com/agent/carolinegerardo 

Sources: Chicago Tribune

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https://www.cmgfi.com/agents/caroline--gerardo-barbeau/News

https://www.cmgfi.com/agents/caroline--gerardo-barbeau/

C G Barbeau   - Caroline Gerardo Barbeau

NMLS 324982

(949)   784- 9699

Las tasas de interés están cerca de los mínimos históricos

Las tasas de interés están cerca de los mínimos históricos
El poder adquisitivo ha aumentado y en muchas áreas el costo del alquiler hoy es mayor que el costo de la adquisición. Algunos dicen que los préstamos hipotecarios son imposibles de obtener sin tener un crédito perfecto y sin dar un 20% de enganche. ¿Desea saber la verdad? Siga leyendo, ya que vamos a citar los tres factores básicos para calificar para un préstamo hipotecario.
Ingresos: Si tiene un trabajo o una fuente constante de ingresos, está listo para iniciar algo grande.  Si mensualmente paga su alquiler a tiempo, esto podría ser más sencillo de lo que piensa.
Activos: Rara vez se necesita un pago inicial del 20%. En realidad hay muchos programas que funcionan con un 5%, 3,5% y, en algunos casos, incluso un 0% de depósito. Además, los costos de cierre a veces pueden ser pagados por los prestamistas, vendedores o provienen de donaciones o subvenciones. Así que si usted piensa que no tiene suerte porque no tiene un montón de dinero en efectivo, no se preocupe. Lo más probable es todavía exista  una solución que pueda funcionar.
Crédito: Si usted paga sus cuentas a tiempo y ha podido evitar enfrentar problemas sustanciales como una quiebra, una ejecución hipotecaria, las ventas al descubierto y juicios, es probable que su crédito se encuentre en buen estado. Los requisitos siempre varían, pero todavía puede haber opciones de préstamo razonablemente flexibles, tales como los programas de garantía de préstamos de la FHA.
Solo con eso. Estos tres elementos son lo básico para obtener préstamos hipotecarios. Habrá excepciones, pero no se deje engañar al pensar que el proceso es imposible. Para los que trabajan y pagan sus facturas puede que no haya mucho que obstaculice el camino hacia su propia casa.
Llame ya, estaremos encantados de ayudarle.


Sincerely,

Caroline Gerardo Barbeau please call me C. G. phone: (949)784-9699 NMLS 324982

© 2019 CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS# 1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender,licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025. AZ license #0903132. Georgia Residential Mortgage Licensee #15438. Registered Mortgage Banker with the Texas Department of Savings and Mortgage Lending. Hawaii Mortgage Loan Originator Company License No. HI-1820. Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance. Licensed by the NJ Department of Banking and Insurance. Licensed Mortgage Banker-NYS department of financial services. Licensed by the Oregon Division of Financial Regulation #ML-3000. Tennessee Mortgage License # 109401. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and www.nmlsconsumeraccess.org.

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Be careful with EMAILS

 Phishing Scams! 

Stop and Think before you click on links in any email. 

 

EVERY DAY SOMEONE GETS HACKED SCAMMED ROBBED

Don't encourage these criminals

Don't fall prey and open their attachments

My Mom loves to forward email jokes from unknown people - don't do this.

WE don't need the virus and we don't have the time anyways

Billions of emails are sent a day.  That represents a lot of opportunity for phishing scams, in which scammers distribute emails that appear to come from legitimate organizations or individuals and try to entice the recipient into clicking on malicious links or attachments. Spear-phishing is a more targeted type of phishing in which a specific organization or person is the target. The typical goal of phishing attacks is to get you to give up sensitive information such as a Social Security number or financial information. Phishing is also used as a way for attackers to get inside an organization’s network for cyber espionage or other malicious activity. 

Scammers will use spoofed email addresses, phony websites with legitimate logos, or phone numbers to fake customer service centers operated by the scammers. Last year phishing attacks cost organizations $4.5 billion in losses. 

Common Phishing Scams

When it comes to phishing, the best line of defense is you. If you pay attention to potential phishing traps and watch for telltale signs of a scam, you can minimize your risk of becoming a victim. Here are some scenarios you may encounter: 

·         An email appearing to be from a bank, credit card company, or other financial institution requests that you “confirm” your personal account information. Supposedly, your information has been lost, or your account is going to be closed, so it is “urgent” that you respond immediately.

·         A urgent e-mail or txt on mobile device from your boss or Corp. manager/executive asking for you to do them a favor or give some info that is out of the ordinary.

·         A phony email from the “fraud department” of a well-known company asks you to verify your information because they suspect you may be a victim of identity theft.

·         An email may take advantage of a current event, such as a popular data breach, which scammers used to send phishing emails with malicious links for “free credit reporting.”

·         An email claiming to be from a state lottery commission requests your banking information to deposit the “winnings” into your accounts.

·         A scammer pretends to have a large sum of money and needs “someone trustworthy” to help access it. The scammer promises to share the wealth in exchange for your help - specifically, your financial information. 

Easy Tips to Protect Yourself from Phishing       

·         Do not send any sensitive personal information via email. Legitimate organizations will not ask users to send information this way.

·         Visit banking or financial websites by typing the address into the address bar. Do not follow links embedded in an unsolicited email.

·         Only open an email attachment if you’re expecting it and know what it contains. Be cautious about container files, such as .zip files, as malicious files could be packed inside.

·         If you want to verify a suspicious email, contact the organization directly – but don’t call the number which is provided in the email.

·         Use discretion when posting personal information on social media. This information is a treasure-trove to spear phishers who will use it to feign trustworthiness.

·         Use antivirus software to detect and disable malicious programs, such as spyware or backdoor Trojans, which may be included in phishing emails. Keep your Internet browser updated with the latest security patches.