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Zoocasa et al

Blog by Patricia Houlihan - Personal Real Estate Corporation | February 10th, 2012

Zoocasa et al

Some clients have been asking me about websites such as Zoocasa and how reliable the information on them is.
The answer is that while there may be some useful information, Zoocasa is a site that is more for fun than for reliable information about the real estate market and in particular pricing.

For example, I recently tested Zoocasa's pricing program-I checked for the value of a waterfront listing I have.  It came up with a value of $783 to $1.1 million on a house which is worth approximately $2 million dollars....I am pretty sure that even the most uneducated buyer familiar with the area would recognize that no waterfront in the lower mainland would sell for such a low price unless it was missing key features like a road! This house had a dock, 3 car garage, nice renos, etc-so the pricing module is definitely NOT reliable! 

Many of these types of websites are likely more for fun than information-real estate pricing is not something that can be done effectively by a computer program-it is more an art than a science!

If you have any questions about house values or other real estate matters, you need not rely on a website-just call or email me!