BUYER'S GUIDE SERIES: Don't Trust Everything You See Online

In today’s digital age, online real estate platforms like Zillow are a go-to for buyers, but it's important to approach these listings with caution. One of the biggest pitfalls we hear from buyers is falling for what seems like a great deal. You might come across a property listed at an unbelievably low price, only to discover later that it's a “pre-foreclosure.” This means the amount listed is simply how much is owed on the property, not what it’s actually being sold for.

In many cases, these properties are far from being foreclosed upon, and some may never be. Even if they are foreclosed, the bank typically buys them back and relists them at a much higher price. So, when you spot what looks like a bargain online, don’t get too excited just yet!

Another issue with online listings is that many properties shown aren’t even for sale anymore. It’s common to find homes listed that were sold months or even years ago, yet still appear as available. This can lead to a frustrating and misleading search experience.

And then there’s the notorious online property “estimate” — these are often inaccurate and can give you a false sense of the true market value. These estimates rely on algorithms that consider basic factors like size and location but ignore crucial details such as property condition, proximity to amenities, or upgrades. As experienced agents, we know that these estimates can vary wildly from the real value of the property.

So, what does this mean for you as a buyer? Don’t let online estimates and listings dictate your decisions. Instead, work with a knowledgeable local real estate agent who understands the true value of properties in your desired area. A trusted agent will offer you accurate insights and help you make well-informed decisions, ensuring you’re not misled by online misinformation.

When it comes to buying real estate, especially in a competitive market, it’s crucial to rely on expert guidance and avoid relying too heavily on online listings. Don’t trust everything you see online—contact a local real estate professional who can provide you with the facts that matter.