Brunell4MVP
Footballguy
Kinda depends on the length of your loan. We have a 15 year mortgage. Hard to run positive to rent estimates with that.
Parkland FloridaWhereRent - $9940
What I pay - $4380 all in PITI, maintenance. 4,000 sq feet under air one story home on a 1/4 acre on the water (long lake view)
+ 5,560
Our maintenance covers all landscaping of our home and common area as well as irrigation plus we have a 50K square foot clubhouse, massive resort style pool, outdoor bar, cabanas etc, tennis courts, basketball court and tot lot.
holy balls.Rent - $9940
What I pay - $4380 all in PITI, maintenance. 4,000 sq feet under air one story home on a 1/4 acre on the water (long lake view)
+ 5,560
Parkland, FL
Our maintenance covers all landscaping of our home and common area as well as irrigation plus we have a 50K square foot clubhouse, massive resort style pool, outdoor bar, cabanas etc, tennis courts, basketball court and tot lot.
M
zillow and that are $1k apartAVM's are hard. Public data is the easy part. The hard part is getting the property data. I have a service called Homebot that I provide to my clients: https://hmbt.co/aXP66ADo you have another site to recommend?It really isn't... if accurate it is pretty much an accident.Seems pretty accurate from what I've seen here in AZ.Zillow "Zestimates" are notoriously inaccurate. They are the most laughable thing in RE. It is why I usually NEVER tell people to even go to Zillow.Kansas City suburb on Kansas side:
+1019
Their house price estimate is about 20K low though for my neighborhood.
If you want to make a realtor or lender laugh.... tell them that you know your value of your house because you looked at Zillow.
It sends a monthly digest with an AVM and a bunch of other data like airbnb potential, current refi options, etc. You are welcome to use it (as well as anyone else who is interested) as I have plenty of slots open on my current service plan with them.
I have found their AVM's to be much more accurate to actual appraisals done in the past couple of years.
Ex-wife
Actually ex-wife #1
Central Fl an hour north of tampa.You have homework in this thread!
Your assignment is to go to Zillow (I feel dirty asking people to go to that site but I will soldier on). Enter in your home address. Look at the rental comp. Now compare that to your PITI (Principal, Interest, Taxes and Insurance... also HOA if you have that). Then report back the +/- on the cash flow as well as the nearest metro area for you or if you are in the middle of no where then say which state such as "rural Illinois"
Another fun assignment is calculating how much more your payment would be at today's value and rates. Assuming 20% down at 7%, my monthly payment would be $3k higher.
Same.Another fun assignment is calculating how much more your payment would be at today's value and rates. Assuming 20% down at 7%, my monthly payment would be $3k higher.
Another fun assignment is calculating how much more your payment would be at today's value and rates. Assuming 20% down at 7%, my monthly payment would be $3k higher.
Another fun assignment on top of that is calculating how much of the PITI vs. rent cash flow difference is eaten up by repairs and maintenance (including the cost of one's own DIY labor), capex, various improvements and projects that don't increase property value, front end and back end transaction fees (mortgage origination, broker fees, etc) and other ownership expenses that are embedded in a rental payment but not included in PITIAnother fun assignment is calculating how much more your payment would be at today's value and rates. Assuming 20% down at 7%, my monthly payment would be $3k higher.
Another fun assignment on top of that is calculating how much of the PITI vs. rent cash flow difference is eaten up by repairs and maintenance (including the cost of one's own DIY labor), capex, various improvements and projects that don't increase property value, front end and back end transaction fees (mortgage origination, broker fees, etc) and other ownership expenses that are embedded in a rental payment but not included in PITIAnother fun assignment is calculating how much more your payment would be at today's value and rates. Assuming 20% down at 7%, my monthly payment would be $3k higher.
Then it gets really interesting when looking at what the downpayment could have alternatively earned in the stock market (while renting) vs. used as equity in the house (while owning).
Exactly. Timing and market conditions play a huge role.Another fun assignment on top of that is calculating how much of the PITI vs. rent cash flow difference is eaten up by repairs and maintenance (including the cost of one's own DIY labor), capex, various improvements and projects that don't increase property value, front end and back end transaction fees (mortgage origination, broker fees, etc) and other ownership expenses that are embedded in a rental payment but not included in PITIAnother fun assignment is calculating how much more your payment would be at today's value and rates. Assuming 20% down at 7%, my monthly payment would be $3k higher.
Then it gets really interesting when looking at what the downpayment could have alternatively earned in the stock market (while renting) vs. used as equity in the house (while owning).
Yeah. Right now it looks bad. Generally long term owning clearly preferable. But, if looking to start that process right now, oof.
Except wherever you move to, your new payment will be high due to interest rates being up as well as home values.It means that assuming Zillow rent comp is accurate (that is a pretty big assumption considering Zillow stinks) you could rent your home out to someone have them pay for the mortgage and then have $500 extra cash to you every month.Rent estimate is 500 more then my monthly payment whatever that means
Zillow shows home at 432k while your bot shows 492k. Hope your bot is correct.AVM's are hard. Public data is the easy part. The hard part is getting the property data. I have a service called Homebot that I provide to my clients: https://hmbt.co/aXP66ADo you have another site to recommend?It really isn't... if accurate it is pretty much an accident.Seems pretty accurate from what I've seen here in AZ.Zillow "Zestimates" are notoriously inaccurate. They are the most laughable thing in RE. It is why I usually NEVER tell people to even go to Zillow.Kansas City suburb on Kansas side:
+1019
Their house price estimate is about 20K low though for my neighborhood.
If you want to make a realtor or lender laugh.... tell them that you know your value of your house because you looked at Zillow.
It sends a monthly digest with an AVM and a bunch of other data like airbnb potential, current refi options, etc. You are welcome to use it (as well as anyone else who is interested) as I have plenty of slots open on my current service plan with them.
I have found their AVM's to be much more accurate to actual appraisals done in the past couple of years.
Imagine what it'd be if they got off their butts and did something about insurance here GB+3500 approx
Daytona Beach, FL area
Non primary residence data:
Rent 1
1700 zillow, actual 1185
Rent 2
2149 zillow, actual 1475
Rent 3
2564 zillow, actual 1910
We are under market, for sure and intentionally. All are good long term tenants who cause no issues but I still think zillow is high.