Real Estate

Valuing your home with the flip of a coin

Setting a price is one of Realtors’ toughest tasks

Published

11 years ago

May 23, 2014

As Realtors, we know that one of our most difficult tasks is pricing a home. That holds true whether we are representing a seller or a buyer.

One of the great evolutions in real estate over the last decade is the power of the Internet, and more than 90 percent of homebuyers begin their search there. We think that’s great, and buyers are more empowered than ever with loads of information. Some of that information can come from sites like Zillow that offer what’s called an “automated valuation model” – AVM for short – that purportedly presents a great estimate of the current market value of millions of homes.

It’s cool technology, amassing an enormous amount of information from publicly available sources in one place that is then scrubbed through very sophisticated algorithms to predict value. And all of that is presented in an easy-to-use user interface. And to their enormous credit, Zillow has done a tremendous job in reaching “top of mind” status with consumers. There’s just one problem: Those predicted values are wildly inaccurate and inconsistent.

As Realtors, we know that one of our most difficult tasks is pricing a home. That holds true whether we are representing a seller or a buyer. Market pressures change from week to week and from neighborhood to neighborhood. The motivation of the parties is always a factor, as is the condition of a home and those around it. No algorithm, however sophisticated, can quantify the value of a kitchen that was remodeled just before a home was put on the market or a yard that is poorly maintained. It simply isn’t possible for any AVM to predict the value of a home with a level of accuracy sufficient to make a housing decision. Zillow knows that’s true – and they say as much on their website (although you have to dig a bit to find it). They have this to say about their “zestimates” of value:

“The Zestimate is not an appraisal and you won’t be able to use it in place of an appraisal, though you can certainly share it with real estate professionals. It is a computer-generated estimate of the worth of a house today, given the available data. Zillow does not offer the Zestimate as the basis of any specific real-estate-related financial transaction. Our data sources may be incomplete or incorrect; also, we have not physically inspected a specific home. Remember, the Zestimate is a starting point and does not consider all the market intricacies that can determine the actual price a house will sell for.”

Yet not a week goes by that we don’t encounter a consumer who is fixated on a particular value for a home because that’s what Zillow says it is. Kudos to Zillow for making this kind of impression on the public – brilliant marketing. But our research shows that, on average, those “zestimates” are within 5 percent of the actual value of a home just half of the time. (Funny, that’s what their research shows as well.) As Realtors, if we got within 5 percent of the value of a home that infrequently we’d be out of business.

So if a consumer wants to base their valuation of a home purchase or sale on what they find on the Internet, we suggest they take out a coin and flip it. Heads – that value is within 5 percent (high or low) of what the home is actually worth. Tails – that value could be 10 percent, 20 percent or more off target.

How accurate are ‘Zestimates?’

A detailed analysis of 500 recent sales in Metro Washington, D.C.: Beginning in 2010, McEnearney Associates has examined the accuracy of the estimates for property values that Zillow provides – their “zestimates” of value. This marks our fourth and most comprehensive analysis.

We took 500 properties in MRIS, our regional multiple listing system, that were scheduled to settle between March 24 and March 31, 2014. During that week, we looked for the zestimates of those 500 properties. Once the properties settled, we compared the actual sold price to the predicted values on Zillow. And to be as fair as possible, we excluded new home sales from our research because it is highly unlikely that Zillow would have details of the home to be built.

To provide some context, we compared the results of the March 2014 research to that of our September 2012 research. In 2012, we researched 280 properties, and we were able to find a zestimate for all 280. In the research we just concluded, we were able to find values for all but two of the 500 properties.

Generally, Zillow’s predicted market value is not any better now than it was 18 months ago. The zestimate is within 5 percent of the actual sales price roughly half the time. In September 2012, the zestimate was just as likely to be too low as too high; now, it is roughly twice as likely to be too low.

As one might expect with a computer-generated value, there are always “outliers.” In September 2012, of the 280 zestimates, the highest was roughly 140 percent of the actual sales prices. The lowest was 82 percent. In the research we just concluded, the highest predicted value was 256 percent of the actual sales price and the lowest was 62.8 percent.

There are significant geographic differences in Zillow’s performance in our current research. They get within 5 percent of the actual sales price just over a third of the time for properties in Washington, DC, and within 10 percent of the sales price less than 60 percent of the time. They are within 5 percent of sales price 43 percent of the time in Maryland and almost 60 percent in Virginia.

Zillow is a bit less accurate for condo and coops than for attached or detached homes. Mirroring the overall results, in all three property types Zillow is at least twice as likely to predict a value that is at least 5 percent lower than the actual value as predicting 5 percent high.

Not surprisingly, those properties that sold for $1,000,000 and more were a little tougher for Zillow to estimate accurately. They got within 5 percent of the actual price just over one third of the time. They fared much better for homes selling between $500,000 and $999,999, getting within 5 percent almost 60 percent of the time, but for homes selling for less than $500,000 they were within 5 percent less than half the time.

David Howell is executive vice president and chief information officer for McEnearney Associates. He is responsible for the firm’s technology, market information and public relations. He is also principal broker for McEnearney Associates in Maryland, and is an associate broker in Virginia and D.C.

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Real Estate

Spring updates to sell your home for pride and profit

Consider new landscaping, power washing, creative staging

Published

1 day ago

April 20, 2025

Scott Helms

Enhance your curb appeal with fresh landscaping before you sell. (Photo by Elena_Alex_photo/Bigstock)

Selling a home is a big deal for anyone, but for members of the LGBTQ+ community, it comes with unique considerations—from finding affirming professionals to ensuring your home is represented in a way that reflects your values. Whether you’re a first-time gay home seller or a seasoned LGBTQ+ homeowner looking to move up, maximizing your home’s value is key to a successful and empowering sale.

Here’s how to prepare your home, your mindset, and your real estate strategy to get the most value—financially and emotionally—from your home sale.

1. Start with an LGBTQ+-Friendly Real Estate Agent

Before diving into renovations or staging, make sure your agent truly understands your needs. A gay-friendly or LGBTQ+-affirming real estate agent brings more than just market expertise—they bring cultural competence, safety awareness, and a network that supports you throughout the selling process.

At GayRealEstate.com, you can find experienced, vetted LGBTQ+ real estate agents who have been proudly serving the community for over 30 years. Working with someone who shares or supports your identity ensures your selling journey is respectful, inclusive, and effective.

2. Enhance Curb Appeal—With a Welcoming Vibe

The outside of your home is the first impression a potential buyer gets. Make it count—especially for LGBTQ+ buyers looking for a home that feels safe and welcoming.

Fresh landscaping: Add colorful flowers, neatly trimmed shrubs, or low-maintenance greenery to appeal to eco-conscious buyers.
Update the entrance: A new front door, stylish lighting, or even a rainbow doormat can make your home feel like a safe space from the start.
Clean and repair: Power wash the exterior, touch up paint, and make any necessary repairs to gutters, windows, or siding.

3. Stage with Intention and Inclusivity

Home staging can add thousands to your sale price. But beyond the usual decluttering and neutral palettes, think about how your space tells a story—and who it’s telling it to.

Create a warm, inclusive feel: Subtle touches like LGBTQ+ art, books, or even coffee table magazines can show off your personality and affirm the space for queer buyers.
Depersonalize—but don’t erase: You don’t need to hide your identity to appeal to buyers. Let your home feel lived in and loved—while still being a blank canvas others can imagine themselves in.
Highlight multi-use areas: Home offices, gender-neutral nurseries, or flex spaces resonate with LGBTQ+ families and professionals.

4. Update Kitchens and Bathrooms Strategically

These rooms matter most to buyers—and even small updates can yield big returns.

Kitchen: New cabinet hardware, a fresh backsplash, and modern lighting can elevate the entire room without a full remodel.
Bathroom: Replace old fixtures, re-caulk tubs and sinks, and add plush towels and inclusive décor.
Energy-efficient upgrades: Touchless faucets, smart appliances, or low-flow toilets are not only trendy—they signal sustainability, which matters to LGBTQ+ buyers.

5. Make Your Home More Energy Efficient

LGBTQ+ homebuyers often prioritize sustainability. These updates not only reduce energy bills but make your home more marketable.

Install a smart thermostat (like Nest or Ecobee)
Upgrade insulation or windows
Consider solar panels (especially in sun-drenched regions like California or Florida)

Bonus: You may qualify for state or federal tax credits, which can be a great selling point.

6. Know and Advocate for LGBTQ+ Housing Rights

Although housing discrimination is illegal under the Fair Housing Act, it still happens. As an LGBTQ+ seller, be aware of your rights—and those of potential buyers.

Avoid steering or bias: Even with good intentions, make sure you’re not inadvertently influencing who views or buys your home based on identity.
Work with affirming professionals: From inspectors to lenders, choose partners who support inclusive practices.
Report discrimination: If you or a buyer encounters bias, report it to HUD or your local housing authority.

7. Price Your Home Right—and Market It Smartly

Setting the right price is essential to maximizing value. Your LGBTQ+-friendly agent can run a comparative market analysis, considering current trends and buyer demographics.

Leverage LGBTQ+ real estate networks: Promote your home through platforms like GayRealEstate.com to reach an audience that understands and values your space.
Use inclusive language in listings: Avoid gendered terms or heteronormative assumptions. Instead of “his and hers closets,” use “dual walk-ins” or “double closets.”
High-quality photos and video tours: Showcase your home with professional, visually inclusive marketing that appeals to diverse buyers.

8. Consider Timing and Local LGBTQ+ Trends

Selling during WorldPride or just before local LGBTQ+ events may boost visibility. Also consider if you’re in or near an LGBTQ+ friendly city or neighborhood.

Not sure which areas are top destinations? GayRelocation.com tracks and shares the best cities for LGBTQ+ homebuyers, helping you tap into motivated buyers.

Final Thought: Sell with Confidence—and Community

Selling your home isn’t just about getting top dollar—it’s about closing a chapter with pride and integrity. When you center your values, work with LGBTQ+ affirming experts, and prepare your home with purpose, you’re not just maximizing your home’s value—you’re creating an empowering experience for yourself and the next owner.

Whether you’re buying, selling, or both—GayRealEstate.com is your trusted partner in every step of your journey. With a nationwide network of gay and lesbian realtors, decades of experience, and deep community ties, we ensure your home transition is safe, smart, and full of pride.

GayRealEstate.com is the nation’s leading online platform connecting LGBTQ+ home buyers and sellers with LGBTQ+ friendly real estate agents, ensuring a safe and supportive experience.

Scott Helms is president of GayRealEstate.com. To find an agent or learn more, visit GayRealEstate.com, GayRelocation.com or call 1-888-420-MOVE.

Real Estate

Navigating DMV real estate market during political unrest

Reductions in federal employment have introduced uncertainties

Published

1 week ago

April 13, 2025

Stacey Williams-Zeiger

Despite Elon Musk’s cuts to the federal workforce, D.C.’s real estate market continues to thrive. (Washington Blade file photo by Michael Key)

The Washington, D.C.-Maryland-Virginia (DMV) region has long been recognized for its robust housing market, underpinned by the presence of the federal government and a diverse economic landscape. Recent massive reductions in federal employment have introduced uncertainties, yet the area continues to offer compelling reasons for prospective homebuyers, particularly within diverse communities.

While the federal government has traditionally been a significant employer in the DMV, the region has proactively diversified its economic base. Sectors such as technology, professional services, education, and healthcare have expanded, mitigating the impact of federal job cuts. This diversification fosters some economic resilience, which offers our area a semblance of protection against the impending unknowns that we currently face. Nothing can shield real estate entirely; however, our area tends to survive these types of changes better than other parts of the country.

Despite concerns over federal layoffs, the DMV housing market has demonstrated notable stability. Analyses indicate that the number of active listings, sold properties, and median sales prices have remained steady on a year-over-year basis. This steadiness suggests that the market is adapting to changes without significant disruption.

Furthermore, while there has been a slight increase in home listings, this trend aligns with typical seasonal variations and does not solely reflect federal employment changes. The luxury property segment, in particular, continues to thrive, indicating sustained interest and investment in the region.

The DMV region is renowned for its cultural and demographic diversity, with areas like Montgomery County, Md., being among the most ethnically diverse in the nation. This inclusivity extends to various communities, including LGBTQ individuals, fostering a welcoming environment that enhances the area’s appeal. Even though the current administration is fostering anti-diversity ideology, I remain confident that our LGBTQ community will continue to thrive even as these destructive forces work against us.

Local governments within the DMV have implemented policies aimed at promoting affordable housing and preventing displacement, particularly in the wake of economic shifts. Initiatives like the Douglass Community Land Trust in Washington, D.C., exemplify efforts to maintain housing affordability and support community stability.

Additionally, jurisdictions such as Montgomery County have longstanding Moderately Priced Dwelling Unit (MPDU) programs that require developers to include affordable housing in new residential developments. These policies contribute to socioeconomically mixed neighborhoods, benefiting diverse populations.

Despite Elon Musk’s brandishing of a chainsaw to the federal workforce, our real estate market continues to thrive. The DMV region maintains its appeal. Economic diversification, market stability, commitment to diversity and inclusion, and progressive housing policies collectively contribute to an environment that supports and attracts diverse communities. Prospective homebuyers can find reassurance in the region’s resilience and ongoing efforts to foster an inclusive and vibrant community. These are only a few among the many reasons to have a positive outlook while considering real estate options in our area.

It is important to consider working with brokerages, brokers, agents, lenders and title companies who align with our community and our objectives. Not all LGBTQ agents work for brokerages that support or understand the needs of the members of our community. Do your research and find out who has donated money to what political causes. Now more than ever we must support members of our community to protect our way of life and our very existence.

Stacey Williams-Zeiger is president/principal broker of Zeiger Realty Inc. Reach her at [email protected].

Real Estate

New trends for old kitchens

Published

2 weeks ago

April 5, 2025

Valerie Blake

Kitchen trends favor a modern, organic style. (Photo by zstockphotos/Bigstock)

Whether you are upgrading parts of your current home to prepare it for sale or enhancing the home you just purchased, kitchens and bathrooms are still at the top of the renovation list.

Kitchen renovations have always embraced a blend of functionality, personalization, and aesthetic appeal; however, homeowners are currently moving away from sterile, uniform designs, opting instead for spaces that reflect warmth, character, and individual style. Here are some of the most prominent trends shaping kitchen renovations this year.

Warm and Earthy Tones

The dominance of all-white kitchens is waning as homeowners gravitate toward warmer, earth-toned palettes. Shades like sage green, navy blue, and natural wood finishes are becoming popular choices for cabinetry, infusing kitchens with a cozy and inviting atmosphere. This shift reflects a desire for spaces that feel more personalized and less clinical. Flat panel and Shaker cabinets continue to be popular options.

Integration of Organic Modernism

The “modern organic” style is gaining traction, characterized by using natural materials, neutral color palettes, and serene layouts. Incorporating elements like soapstone countertops, Venetian plaster walls, slate floors, and greenery not only enhances aesthetic appeal but can also increase home values significantly. Fully outfitted outdoor kitchens further contribute to this trend.

Innovative Kitchen Island Designs

Kitchen islands continue to be central features, with designs evolving to incorporate textures, wood and tile cladding, multifunctional elements, and bold colors and materials. Integrated seating areas, waterfall countertops, and the use of monolithic stone or stacked marble are becoming increasingly popular. These islands not only serve as functional workspaces but also as striking focal points within the kitchen.

Concealed Kitchens for a Sleek Look

The concept of concealed kitchens is on the rise, emphasizing built-in appliances, flush cabinetry, and appliance garages to maintain a clutter-free environment. This design approach fosters a minimalist aesthetic, creating a seamless flow between the kitchen and adjacent living areas, particularly in open-concept homes.

Personalized Cabinetry and Storage Solutions

Customization is key in modern kitchen designs, with homeowners seeking tailored storage solutions that cater to their specific needs. Features like hidden storage compartments, integrated lighting, and unique hardware choices are being favored over generic, cookie-cutter options. This trend underscores a move toward kitchens that are both functional and reflective of personal style.

Revival of Traditional Styles with Modern Twists

Traditional kitchen styles are making a comeback, with a contemporary twist. Elements such as expanded backsplash coverage, classic tile shapes and patterns, use of mixed metals, and specialty appliances are being integrated into modern kitchens, blending the charm of the past with the conveniences of the present. Custom range hoods, coffee bars and microwave drawers are increasingly added to renovation projects. This fusion creates spaces that are both timeless and equipped for modern living.

Sustainable and Natural Materials

Sustainability remains a priority, with an increased use of eco-friendly materials like reclaimed wood, recycled metals and glass, and energy-efficient appliances. This not only reduces environmental impact but also introduces unique texture and shimmer into kitchen designs, adding depth and character to the space.

Use of Bold Colors and Accents

Homeowners are becoming more adventurous with color and texture, incorporating vibrant hues and tactile materials into their kitchen designs. Features like colorful window trims, two-tone cabinets, and the use of wallpaper and feature walls add visual interest and a personalized touch to the space. In addition to the familiar white, major appliances are now shown in matte black, navy, and jewel tones of red, green, and blue. There are even vinyl wraps and magnet covers that allow for more creativity and individualization with appliances.

Integration of Smart Technology

The incorporation of smart technology continues to grow, with appliances featuring automated cooking functions, sensor reheating, and control locks becoming more prevalent. Induction stoves are entering the mix. Charging stations and touch-activated cabinet doors and faucets are also popular. LED lighting lasts longer and prevents you from having to climb a ladder to change lightbulbs on a high or vaulted ceiling. These advancements enhance convenience and efficiency, aligning with the modern homeowner’s desire for a kitchen that supports a tech-savvy and busy lifestyle.

Multifunctional Spaces

Kitchens are increasingly being designed as multifunctional spaces that accommodate cooking, dining, working, and socializing. This has led to the inclusion of features like integrated seating, versatile lighting, and adaptable layouts that can easily transition between different uses, reflecting the evolving role of the kitchen in contemporary homes. Still, don’t be surprised to see a resurgence of self-contained kitchens with real walls.

So, whether the kitchen you want is sleek and modern, earthy and organic, or traditional and elegant, there will always be fresh new styles, ideas, innovations and classic touches that cater to your lifestyle.

Valerie M. Blake is a licensed Associate Broker in D.C., Maryland, and Virginia with RLAH @properties. Call or text her at 202-246-8602, email her via DCHomeQuest.com, or follow her on Facebook at TheRealst8ofAffairs.