Bobby Lieb

DRE: BR007861000

(602) 376-1341

Bobby's Blog

What is my home worth?

Posted On: April 2nd, 2017 3:16PM


First off, thank you to all of my clients for helping me to become the #1 HomeSmart agent in the country for 2016, not only for sales(140 homes sold ) but also for sales volume ($79 million). I am very appreciative of your continued support for the past 25 years. So far in 2017 we have sold 35 homes totaling more than $20 million.


I have often been asked what some of the biggest challenges are that I face when going on a listing appointment and far and away the number-one issue to me is that sellers see their home values sometimes inflated on Zillow and Trulia and are upset if they find out those numbers are not accurate BY THEIR REALTORS. Those internet sites are off more than 50 percent of the time by about 15-20 percent. I understand that nonrealtors do not have access to MLS and the internet sites are their only sources but neither realtors nor appraisers rely on the internet values. They rely on past sales and multiple listing comps.


The other issue that I experience in our neighborhood is older homes that are not historic but are situated on large parcels of land. I sold a property at 130 E. Missouri last year that was a 4,000- square-foot house, more than 60 years old and situated on a 2-plus acre lot. The property was listed by an agent for more than $2 million for three years, never sold and the seller called me for my help. I told him the home was a tear down and the value was in the land. We listed the property at $1.85 million and it sold in five days for $1.8 million to a developer. The home was torn down and is being developed into eight home sites. I realize some of the neighbors were upset because the home was not saved but the seller got the most money for his property because of the land and realized there was no value for a 60-year-old home. I also sold 1316 W. Myrtle last year for $975,000k for 2 acres and the old home on the property was torn down and is making way for six homes being built by Porchlight Homes. There is no value in the homes and stables for some of these old horse properties and my job as a realtor, plain and simple, is to get the most money that I can for my sellers. I realize this does not make everyone happy to see the developers buying these old properties but if they were the sellers of these homes they would understand. Besides, these new homes being built only help the neighbor's property values increase.


I have been involved in five sites in central Phoenix the past three years with sales of home sites of 2-plus acres. If you have a large parcel that you are considering putting up for sale, please give me a call. Once again, I appreciate all the support that many of you have given me over the past 25 plus years.


I have sold more than 3,000 homes and many of them have sold two or three times.


Bobby Lieb

Associate Broker

HomeSmart Elite Group Manager/Founder

5225 N. Central Ave., Ste. 104

Phoenix, AZ 85012

Mobile: 602-376-1341 Fax: 602-996-9141

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