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Bonny Puckett ~ REALTOR ~ Fountain Hills, Scottsdale, AZ

Just how accurate are Zestimates?

When it comes time to sell your home who will you turn to for answers? Will it be an experienced real estate professional, or the internet?

I often have clients tell me they already know the value of their home based on information they have seen on Zillow or other home valuation websites. The question is, just how accurate is that information?

According to Zillow, in Maricopa County, AZ, Zillow's Zestimate is only within 10% of the sales price of homes 49% of the time. That means that more than half the time their Zestimate is off by more than 10%. That can mean a big difference to you not only in the sales price, but also in the amount of time it takes to get your home sold.

Although they pull information from numerous public record sources to compile the data displayed on these websites, and data is updated frequently, it can not give a completely accurate reflection of your home's true value. They haven't had the opportunity to come inside your home and see the finishes you have used, upgrades you have made and attention to detail you have put into making your home special. They are also not familiar with the local real estate market, what local buyers are looking for, special features of your property in relationship to the area and sales trends that may affect the sale of your home.

What is comes down to is that real estate local! I'm not just talking about statewide, or citywide, but community wide as well. The only people who can truly give you an accurate estimate of the value of your home, and what you can reasonably expect to sell your home for in today's market, are a licensed Realtor or a licensed Real Estate Appraisor who are familiar with the area in which you live.

A licensed real estate professional will not only look at your home, but they will also consider other homes that have recently sold, and your competition that is currently on the market. They will take into account special features of your home, your neighborhood, and the surrounding area. They will also be able to share some insight with you about how you can improve the salability of your home.

Here is a great video from Zillow that explains how they get their information and how accurate it is.

 

Fountain Hills Named "Best Affordable Suburb" in Arizona

The Arizona Republic reported today on something that I have known about and been touting for years. BusinessWeek has recently recognized Fountain Hills as the "Best Affordable Suburb" in Arizona. The town was recognized for its "natural beauty" and outdoor activities such as hiking, biking and golfing. And, let's not forget about the "Frolf".
According to BusinessWeek, the median home price in Fountain Hills is $380,182. By comparison, Scottsdale's median price for 2008 was $476,250, making Fountain Hills a much more affordable option.

The Town's Mayor, Jay Schlum sites the Town's high-perfoming schools, low crime, small town flavor and award-winning parks as attributes that make Fountain Hills such a great place to live. Fountain Hills is also, as he says, "good real estate value.

Schlum says "We are a community that is oriented to an outdoor active lifestyle, and that draws out a youthful energy." I couldn't agree more! That is one of the wonderful things that originally attracted me to Fountain Hills.

Over the years I have heard many homebuyers tell me they decided to look for a new home in Fountain Hills because friends, family members, and sometimes even strangers told them it is the best place to live in Arizona. I believe that the residents of a community are the best testiment to its qualities.

Great news for people looking to move to Fountain Hills, homes in Fountain Hills right now are even more affordable than they have been in many years. This is a great time to make a move to the "Best Affordable Suburb" in Arizona!

Celebrate Thanksgiving with a Turkey Trot & Parade

Fountain Hills Turkey TrotThe Town of Fountain Hills Parks & Recrecreation is gearing up for their 18th Annual Turkey Trot on November 27, 2008.

What is a Turkey Trot?

It's a 5K Fun Run and 2K Fitness Walk that start from the Fountain Hills Library and go past the fountain. Mayor Jay Schlum will start the event and "Mr. Gobbleson", the official mascot of the Fountain Hills Turkey Trot, will help with a pre-race warm-up. Prizes are awarded for 1st, 2nd & 3rd place winners in each division.

Registration deadline is on Friday, November 25, 2008. For more information or to register online visit http://www.fh.az.gov/parks-recreation/turkey-trot.

Stick around after the Turkey Trot to enjoy a fabulous Thanksgiving Day Parade. The parade, which is the only Thanksgiving Day Parade in Arizona, features groups from throughout Fountain Hills and around the valley including the incomparable Fountain Hills High School Marching Band, the GWRRA Motorcycle Drill Team, and much more! The theme of this year's parade is Jingle Bells "Rock" the Hills.

Fountain Hills Thanksgiving Day Parade - Fountain Hills High School Marching Band

Adventure Town - Live & Play in Fountain Hills, AZ - Ford Ironman Arizona Triathalon this Sunday 11/23/2008

The Ford Ironman Arizona Triathlon will take place this coming Sunday, November 23, 2008. This event attracts top athletes from around the world to compete for 80 qualifying spots in the 2008 Ford Ironman World Championship in Kailua-Kona, Hawaii as well as a $75,000 pro prize purse.

They are expecting roughly 2,100 competitors from over 30 nations. Competitors will have a full day ahead of themselves with a 2.4 mile across Tempe Town Lake, and 112 Bike loop between Tempe & Fountain Hills, and a 26.2 mile run that loops around the Tempe Town Lake. Because both the bike and run courses are being done in loops, it should make for some great spectating as well.

For more information about this event visit http://www.ironmanarizona.com.

Traffic will be restricted between Fountain Hills & the Southeast Valley on race day.

This race will result in partial road closures throughout Tempe & the east valley, including the Beeline Highway (Hwy 87) heading into Fountain Hills and towards Payson. For details on the route and partial road closures visit the event website. You can also access traffic information by calling 511 or visiting http://www.az511.com.

Real Estate Investor Question of the Week

As the end of 2008 rapidly approaches, now is a great time to take an objective look at the events of the past year and evaluate your progress in terms of your real estate investment goals.

Were you able to meet or exceed your real estate investment goals for 2008?

If so, what do you feel was the #1 contributing factor toward reaching your goals?

If not, what challenges did you face that you feel prevented you from reaching your goals?

By revisiting our short and long term goals frequently, and evaluating our progress, we are able to make necessary adjustments to help us obtain those goals. When we share our goals and results with others we maintain a greater level of personal accountability while benefiting from the valuable knowledge and advice others have to offer.

I'd love for you to share your results, comments and insights so that we may all benefit from the experience and knowledge that you have gained throughout the last year.