AZ Real Estate 08-03-2014

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CATHERINE REAGOR REAL ESTATE

Agents concerned over merger

M

ALL IN THE FAMILY

any homeowners or prospective buyers have checked out Zillow and Trulia. The two Internet companies are the largest home-listing providers that aren’t Realtorowned Multiple Listing Services. And now the two real-estate giants are going to merge in a $3.5 billion stock deal. Zillow and Trulia aren’t MLSs, which have the most listings in the country. A Zillow executive told a crowd of real-estate agents at an Inman Real Estate Connect event last month that his company is publicly traded and doesn’t plan on trying to take over MLSs, but agents in the crowd were skeptical. The deal doesn’t necessarily mean consumers will get more listings to view or better information, including homevalue estimates. Those are known as Zestimates on Zillow and are considered unreliable in metro Phoenix and many other parts of the country. Since Zillow launched during the housing boom, I have received many complaints about Zestimates. The data is often wrong or incomplete. Some homeowners have thought they were still underwater when their values were much higher; others thought they had equity to sell or tap for emergency expense, but the Zestimate amount wasn’t available in the real market. In metro Phoenix, we have much better real-estate information available to consumers than Zestimates. “Zillow’s forecasts are for entertainment purposes,” said Mike Orr of Arizona State University’s W.P. Carey School of Business. “Zillow is not predicting changes in home prices. They are predicting changes in their own Zestimates.” Tom Ruff, real-estate analyst with the Arizona Regional Multiple Listing Service’s Information Market, said Zillow

Buyers give more weight to needs of children, grandparents before a move Dolores Tropiano Special for The Republic

For today’s parents, purchasing a home has become a family affair. Baby Boomers may have been concerned about careers and the convenience of commutes when house-hunting, but for Generation X and Millennial parents, the needs of their children and even grandparents are a part of the homebuying process. According to a study from Coldwell Banker Real Estate, the shift is measurable. The survey, conducted among 2,800 parents from three generations, suggests that today’s children may be elevated to the position of

“chief purchasing officers” of the family. It found that 79 percent of Millennial parents (ages 18-34) and 70 percent of Gen X parents (ages 35-49) said most of their major purchasing decisions, including home purchases, revolve around their children. Only about 50 percent of the Boomer parents said this was true when they were raising their families. When shopping for a home, families are focused on schools, square footage and lifestyle amenities such as parks and bike paths. But they want more. In Arizona, where people often relocate from other states, many are seriously searching for that sometimes elusive quality in a neighborSee FAMILY, Page R3

THINKSTOCK

See REAGOR, Page R3

Algarve

950 W. Main St. • Mesa, AZ 85201

480-385-0224

For more information, see our ad inside! *On select units.

Algarve@celticpropertymanagement.com

½ OFF 1ST MONTH’S RENT!*

Temple Square 324 S. Horne St. • Mesa, AZ 85204

480-516-0488

TempleSquare@celticpropertymanagement.com

$200 OFF TOTAL MOVE-IN!*

Vineyard Estates 915 W. Alta Vista • Phoenix, AZ 85041

602-748-1699

Vineyards@celticpropertymanagement.com AR-0008255474-01

SCOTTSDALE | 14810 North 50th Street | Open Today 1-4PM

STORYBOOK PRETTY. Charming the moment you arrive with MLS# pretty blue siding, white fencing and an inviting front courtyard. Bedrooms Sunlit plan with all bedrooms upstairs for easy downstairs Bath entertaining. Vaulted ceilings, wet bar, entertainment center, Pool beautiful fireplace and much more. Open to the inviting family room, the chef ’s kitchen has high-end Silestone countertops, Sq. Ft. pantry and black appliances. Double doors reveal the master suite Parking with walk-in closet. Remodeled baths. Sensational third floor loft. Lot Size Towering shade trees and grass out back. Covered dining patio. ZIP Code Sparkling pool. In the Magic 85254 Zip Code. Scottsdale mailing address. Phoenix taxes, utilities and zoning. Paradise Valley Online Pics schools. – Joseph Callaway Price

Brought to you by Those Callaways, (480) 596-5751

- 5133598 -4 -3 - Yes - 2,516 - 2-Car Garage - 9,874 sq. ft. - 85254 - ThoseCallaways.com - Only $375,000

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SCOTTSDALE | 6113 E. Sunnyside Drive | BY APPOINTMENT ONLY

MAGNIFICENT FRENCH COUNTRY ESTATE. Tucked MLS# inside Equestrian Manor, a premier guard-gated community, the Bedrooms front of this impeccably presented estate is blessed with a luxurious Bath lawn, tall shady trees and a pavered pathway that gently weaves Pool its way to the brick-trimmed entrance. Brilliant fixtures/finishes. Living room w/soaring fireplace framed by French exits to alfresco Sq. Ft. amenities. Showcase kitchen flows into game room/billiards ZIP Code parlor and family room. Private bedroom wing w/transition Online Pics foyers. Lavish master retreat w/romantic cocktail patio. Lush Price lawns, mature trees, multiple patios, pool, spa, sport court. Visit tourfactory.com/1198206. See inside for full details, directions. Stop by our Open House next door today from 12-4PM.

Brought to you by Sandra Baldwin, Russ Lyon Sotheby’s International Realty

- 5144772 -5 -7 - Yes - 7,010 - 85254 - BaldwinTeam.com - $3,200,000

see more inside AR-0008238936-01


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