In today's market stats show that over 80% of potential homebuyers begin their search online.  With all of the available data out there many homebuyers and sellers use sites such as Zillow to find values for an area, determine if something is priced well, and see what comparable homes are on the market.  Problem is Zillow often gets it wrong, uses comparables that......well aren't comparable, and don't take into account the real differences in homes.  I just stumbled on a home in Manhattan Beach priced at just under $1.6M with ocean views and located in one of the most expensive areas of a very expensive town.  Just to the right of the listing is an area of "Similar homes for Sale".  The home they have listed is a nice, new home in Gardena priced at $469,000.  What a deal right?  For those of us that know the South Bay well, or happen to work in real estate, the difference is pretty obvious.  In terms of looking on a map, Gardena and Manhattan Beach may not be all that far away....in terms of real estate values, they're a world apart.

Zillow can be a good resource to find homes, get prices, and maybe opinions, but in terms of getting values for an area and understanding what really influences price in a location...it's fatally flawed.

Contact me for any questions about real estate in the South Bay

Keith Kyle

keith.kyle@southbaybrokers.com

www.KeithKyleHomes.com