Hello Valley Village Homeowners,
Happy Holidays! After the year we have all had, we could use a reason to celebrate! Whichever holidays that you and your family observe, I hope that you are surrounded by friends, family, peace and joy!
For the month of December, let’s allow ourselves to relax and make plans to enjoy time with family and friends. You can download my monthly event calendar here, detailing activities around Los Angeles that are sure to get you into the holiday spirit! There’s literally something for everyone.
There was a very interesting development last month. If you had not heard, Zillow began purchasing homes directly from homeowners in early 2021. One of Zillow’s most talked about features is their automated home valuation feature known as their “Zestimate”. Zillow uses AI (Artificial Intelligence) to determine property value. Realtors have known for years that this is an inherently flawed process because nothing can replace an in-person evaluation by an experienced real-estate professional.
Zillow has learned this lesson the hard way, pulling the plug on home purchasing after only 8 months, after losing $304 Million through the misevaluation of property values. The moral of the story, trust your local professional to help you understand your home’s market value.
You can read the whole story here: https://bit.ly/ZillowAIValuation
In early January, you will be receiving my 4th quarter recap for home sales in VALLEY VILLAGE, along with my market health report. These tools will help you understand where the market is at and will give you a general idea of your home’s market value. In the meantime, please don’t hesitate to reach out with any buying, selling, or leasing needs that you may have!
Kind regards,
Luke
