Zillow Flips Out - Debbie Bloyd #5325

Summary: Real estate is still in a major up-swing: prices continue to go up, inventory is low, and people are over-bidding just to get a house. A major online business that has added to the confusion is Zillow, and Debbie Bloyd comes on the show to explain how utilizing real experts and technology (rather than just technology) allows for accurate appraisals. Tune in to learn about the factors that Zillow tends to neglect when valuing a home, and how to be more aware in the current market.

Highlights: -Not everyone is making money in real estate; Zillow has lost a lot of money with house flipping -Here to explain where Zillow went wrong is mortgage broker Debbie Bloyd -Zillow was messing up people’s expectations of how business should be done. You have to stay within the market range and not take people out of the equation -You can’t only pay attention to technology and algorithms -Zillow’s estimate does not have the final say; their algorithm doesn’t factor in everything -A true appraisal is the only way to know what a property should sell for -Zillow is a technology company applied tor real estate -We need more people involved within the transactions -There are going to be new ways to do appraisals on digital platforms in the coming years—utilizing technology and people -Rates have been steady, but next year they’re going to go up -With the stagflation in the 70s, real estate prices didn’t go up until the 80s

Useful Links: Financial Survival Network Money Strategies Looking to Dive Into the Housing Market? The Time is Now with Debbie Bloyd Wells Fargo Closes All Personal Lines of Credit with Debbie Bloyd