Lora Brumett
ATTENTION POSTMASTER Time Sensitive Materials
REALTOR® | RE/MAX Ability Plus CLHMS Certified RE/MAX Ability Plus Billion Dollar Club
812.350.8874 LoraBrumett@yahoo.com www.SellWithTheStars.com RE/MAX Ability Plus 11191 W Grandview Dr Columbus, IN 47201 812.350.8874
GRANDVIEW LAKE
2016
October 2017 Real Estate Market Report
Each Office Independently Owned and Operated.
Visit www.GrandviewLakeHomes.com Today!
FEATURED GRANDVIEW LAKE ACTIVE LISTINGS! ACTIVE
10881 W. Grandview Drive | 4 Beds | 3 Baths 4,056 Est. Sq. Ft. | List Price $1,195,000
ACTIVE
ACTIVE
11966 W. Glen Lane | 3 Beds | 4 Baths 3,141 Est. Sq. Ft. | List Price $629,000
ACTIVE
PRESENTED BY Lora Brumett 11411 W. Grandview Drive | 5 Beds | 4 Baths 2,528 Est. Sq. Ft. | List Price $598,900
10371 Pond Drive | 4 Beds | 3 Baths 2,558 Est. Sq. Ft. | List Price $542,900
Future Seller, For more information on these fabulous homes, or to have your home professionally marketed in my Grandview Lake publication, call me today at 815.350.8874.
Your Grandview Lake Real Estate Specialist
PREPARED ESPECIALLY FOR
FUTURE SELLER
Lora Brumett
GRANDVIEW LAKE MARKET REPORT
REALTOR® | RE/MAX Ability Plus CLHMS Certified RE/MAX Ability Plus Billion Dollar Club
Grandview Lake Homes Currently Listed
812.350.8874 LoraBrumett@yahoo.com www.SellWithTheStars.com Connect with me on 2016
Visit www.GrandviewLakeHomes.com Today!
Grandview Lake & the Zillow Zestimate ®
Have you ever perused Zillow for Grandview Lake homes for sale and noticed that nearly all of the Zestimates are much lower than the listing prices? The Zillow Zestimate is a data point that has become a source of confusion, false pretense, and general misunderstanding in our niche market of Grandview Lake real estate. As both a Grandview Lake resident and real estate specialist, I’ll explain why the Zestimate and other Automated Value Methods, or AVMs, can be an unreliable tool for buyers and sellers when evaluating property values on Grandview Lake. The Zestimate is Zillow’s proprietary AVM. AVMs are basically a giant math equation, or algorithm. The algorithm is designed to make adjustments and calculations based on data points like square feet, lot size, year built, and past sales. This complex mathematical equation is secret and non-transparent to those who seek to learn how the equation actually calculates a given home’s Zestimate. Zillow claims that its “algorithm’s accuracy is within 4.3 percent nationwide, meaning half of Zestimates nationwide were within 4.3 percent of the final selling price, and half are off by more than 4.3 percent.” You can put Grandview Lake in the latter category, for the following reasons: The problem with AVMs on Grandview Lake is that there are so many property features and intangibles that Zillow can’t possibly know based on electronic data points. For example, Zillow’s AVM has no idea if a home has an elaborate boat house, whether or not the dock is made of wood or Trex, or if there’s a second kitchen in the home. Zillow’s AVM also has no judgement of value based on whether a home is located in the 7th addition cove,
®
or whether it is located on the main body of the lake. Zillow doesn’t know whether the water is deep or shallow, whether the driveway is steep, or if the neighbor’s boat house is blocking the view. Unless a home has undergone a major structural remodel adding square footage, Zillow doesn’t know to make adjustments for renovations. So maybe you spent $100,000 renovating all your bathrooms and kitchen – Zillow has no ability to quantify that. Zillow can’t capture value in things like a new roof, new furnace, panoramic view vs. no view–there are many more examples, but you can understand the implications of these lake home features that aren’t quantified in black and white data points. The AVM works well in neighborhoods like nearby Shadow Creek Farms, where all the homes are built on similar lots by the same builder, with just a few varying floor plans and selections. But on Grandview Lake – just cast the AVM data aside, as it’s most likely incapable of accuracy.
Future Seller, As your local agent who is immersed in the market both as a Grandview Lake resident, and as a real estate specialist, you can trust that I help you earn the most return from your invetment! Call me today at 812.350.8874 for a FREE, no obligation home assessment! Sources: Zillow.com Howell, David. “How accurate is Zillow’s Zestimate? Not very, says one Washington-area agent.” The Washington Post 6/10/14 Fontinelle, Amy. “Zillow Zestimates: Not as Accurate as you Think.” Investopedia 9/15/17 Harney, Kenneth R. “Zillow faces lawsuit over ‘Zestimate’ tool that calculates a house’s worth.” The Washington Post 5/10/17
A Lender You Can Trust
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Hl01400050
Status
Address
Bedrooms
Total Baths
Estimated Square Feet
List Price
List Date
Active
5181 South Poplar Drive
4
4.0
4,458
$1,278,000
08/28/17
Active
11861 West Grandview Drive
4
2.0
3,392
$629,900
08/21/17
Active
5461 South Poplar Drive
3
2.0
2,288
$599,000
08/14/17
Active*
10881 West Grandview Drive
4
3.0
4,056
$1,195,000
06/30/17
Active
4871 South Poplar Drive
4
3.0
3,580
$649,000
05/19/17
Active
5221 South Poplar Drive
5
4.0
4,192
$779,000
05/17/17
Active
11957 West Locust Lane
4
3.0
2,880
$707,000
05/12/17
Active*
11966 West Glen Lane
3
4.0
3,141
$629,000
05/03/17
Active*
11411 West Grandview Drive
5
4.0
2,528
$598,900
03/09/17
Active
11954 West Glen Lane
4
4.0
3,451
$781,000
02/24/17
Active*
10371 Pond Drive
4
3.0
2,558
$542,900
02/20/17
Active
11962 West Glen Lane
5
4.0
4,592
$765,000
05/30/16
Active
11151 West Grandview Drive
3
2.0
2,160
$620,000
04/30/16
Active
11881 West Grandview Drive
4
3.0
3,633
$675,000
08/02/14
Grandview Lake Homes Currently Pending Status
Address
Pending
10691 West Grandview Drive
Bedrooms
Total Baths
Estimated Square Feet
List Price
List Date
5
6
4,436
$869,900
02/06/17
Status
Address
Bedrooms
Total Baths
Estimated Square Feet
List Price
List Date
Sold Price
Sold
5391 South Poplar Drive
4
4.0
4,572
$1,395,000
04/01/17
$1,190,000
07/19/17
Sold*
5521 South Poplar Drive
3
3.0
3,528
$819,000
05/04/17
$798,250
07/18/17
Grandview Lake Homes Sold in the Last Year Sold Date
Sold
4201 South Poplar Drive
4
3.0
3,895
$739,000
04/15/17
$709,500
06/26/17
Sold
4170 South Summit Lane
3
3.0
3,400
$599,900
08/29/16
$568,900
05/26/17
Sold
3571 South Poplar Drive
3
3.0
1,807
$369,000
07/19/16
$355,000
05/12/17
Sold
3701 South Poplar Drive
5
3.5
3,814
$390,000
07/12/16
$360,000
02/14/17
Sold
4671 South Poplar Drive
4
3.5
3,972
N/A
N/A
$900,000
01/20/17
Sold
11561 West Grandview Drive
5
3.0
3,336
$629,000
08/28/15
$551,700
12/23/16
Sold
11791 South Grandview Drive
6
3.0
4,028
$595,000
03/24/15
$560,000
12/13/16
Sold
10651 West Grandview Drive
7
5.5
8,126
$2,295,000
06/13/16
$2,100,000
12/12/16
Sold
5611 South Poplar Drive
2
2.0
2,304
$425,000
06/17/16
$380,000
12/09/16
Sold
11965 West Locust Lane
3
2.5
4,180
N/A
N/A
$476,000
11/09/16
Sold
4121 South Summit Lane
4
3.5
3,880
$575,000
01/15/16
$560,000
10/31/16
Sold*
11551 West Grandview Drive
3
3.0
2,430
$819,000
09/28/16
$798,725
10/24/16
Sold
11451 West Grandview Drive
6
4.5
5,834
N/A
N/A
$1,300,000
10/24/16
Sold*
11970 West Glen Lane
4
3.0
2,988
$599,000
09/02/16
$599,000
10/14/16
Sold
11671 West Grandview Drive
3
2.0
2,150
$546,000
04/15/16
$505,000
09/28/16
Grandview Lake Lake Lots Status
Address
Acres
LF Frontage
List Price
List Date
Active
11281 West Grandview Drive
0.34
0
$69,900
05/19/17 05/19/17
Active
11271 West Grandview Drive
0.34
0
$69,900
Active
11954 West Glen Lane
0.66
100
$199,000
Status
Address
Acres
LF Frontage
List Price
List Date
Sold Price
Sold Date
Sold
4161 Poplar Drive
0.47
89
N/A
N/A
$215,000
05/10/17
Sold
10741 West Grandview Drive
0.53
106
$335,000
10/01/14
$320,000
01/05/17
Sold
10661 West Grandview Drive
0.61
100
$369,900
02/27/17
$345,000
04/13/17
Sold
4061 South Poplar Drive
0.55
80
$139,500
05/13/16
$125,000
06/27/16
Sold
10431 West Grandview Drive
0.47
110
N/A
N/A
$250,000
12/20/16
04/25/16
Lora Brumett, RE/MAX Ability Plus, and The RE/MAX Collection are not in any way affiliated with Grandview Lot Owners Association, nor is this in any way an official advertisement or publication of Grandview Lake. © 2017 The RE/MAX Collection. All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the MIBOR and Bartholomew County eGIS as of September 27th, 2017. Data deemed accurate but not guaranteed. Listings and sales may not be those of RE/MAX Ability Plus or The RE/MAX Collection. The National Association of Realtors®, MIBOR, and Bartholomew County eGIS does not guarantee the accuracy of this data, which may not reflect all of the real estate activity in the area. E & OE. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. *Asterisk represents properties listed or sold by Lora Brumett.
Published by REAL Marketing (REM) | www.REALMarketing4You.com | 858.847.8631 | ©2017