Zillow and Zestimates for Lake Martin Property Values
Zillow and Zestimates are simply not accurate and should not be trusted when researching Lake Martin Real Estate values. According to Zillow, most Zestimates are “within 10 percent of the selling price of the home.” I could spend all day giving you examples of Zestimates or Guestimates that are over or under property sales prices by huge amounts. When buyers and sellers use real estate search apps like Zillow, Trulia and Realtor.com they are not always getting accurate and current information. The most accurate information comes from local REALTORS® and the Lake Martin MLS. Find out What your Lake Martin home is worth.
Zillow and Trulia Algorithm
While Zillow claims their algorithm is updated and more accurate it simply does not work for most waterfront properties. It is no secret this algorithm relies heavily on tax values for Zestimates. This tax information is not accurate and is only updated to market value in the event of a property sale. The Zillow Algorithm is a secret, but I can tell you it does not incorporate adjustments for Lake Martin location, view, lot size, water depth, seawall, dock type, accurate square footage, home design, home finishes and home condition to name a few.
Lake Martin is a huge lake and offers a broad mix of waterfront properties for sale. If a neighbor has owned a home for generations it would only be updated when the county assesses properties which is every 5-7 years. The only positive for the Algorithm is it considers the value of properties currently for sale accurately priced by local real estate agents.
Lake Martin Listing Syndication
In addition to this, some real estate agents do not syndicate their listings. These listings will not appear in 3rd party search results. As a buyer, you will not viewing all of the properties for sale on Lake Martin. If you click the “contact agent” button for a property you will be contacting an agent that is paying for leads. I personally do not pay for this lead service.
Towns, Cities and Counties
Lake Martin is not a city, but it is the most used real estate search term for the area. Unless you know the city names and zip codes it is very difficult to search the different Lake Martin locations. To complicate things further, some Lake Martin properties are located in one county with a mailing address of a city in a different county. A few examples are The Ridge on Lake Martin, Windermere and Windermere West. There are also waterfront properties in Coosa county with an Alexander City address. Some of these properties are an hour drive apart with the same city name for 911 reasons. The best tool for people not familiar with the Lake Martin Cities and Lake Martin Counties is the Map Search.
The Ridge neighborhood is located in Elmore County. Even though The Ridge neighborhood is located in Elmore county, properties have an Alexander City mailing address. Alexander City is located in Tallapoosa County. When searching Zillow for property in Alexander City it will show properties in 3 different counties which may be an hour drive apart.
Another example is Windermere and Windermere West. Properties in these Lake Martin neighborhoods both have Alexander City mailing addresses. These two developments have properties located in both Tallapoosa County and Elmore County. There are several property owners that own property on the county line with a portion of their property in each county.
Lake Martin Real Estate Market
If you are interested in buying or selling property on Lake Martin it is best to contact a local REALTOR®. When buying a property on the lake you want to be sure you are seeing all of the current listings. You will also have an agent that understands values and the accuracy of the pricing how the Important Considerations When Pricing Lake Martin Home For Sale. If you are thinking of selling property on Lake Martin, you want to be sure your property is accurately priced with the maximum market exposure. Also, I wrote a blog article titled Tips For Selling A Lake Martin Home.
