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Even though remodeling projects may make property more appealing, the projects homeowners take on are never a guarantee of payback at resale. An ROI , or return on home’s upgrades  does not necessarily increase value. The payback will greatly depend on what type of home improvement was completed.

 

Resort style living in a private setting on All Sports Orchard Lake.  This Estate  nestled in secluded West Shore Drive is walking distance to Orchard Lake Country Club. Enjoy the pristine waters of all prestigious Orchard lake in your back yard with  104 ft of sandy shoreline on a  peaceful  bay on All Sports Orchard Lake.  Walk out your front door and enjoy all of the amenities of the Orchard Lake Country Club.  This is resort style living at its best; Golf, tennis, boating, water sports and more.  This estate features 24,000+ SF, 23 rooms, 9 fireplaces, 3 full kitchens, staff wing, 9 car heated garage. Two story foyer with inlaid stone paneled library, elegant formal dining room, two-story grand room. 1st floor master suite with fireplace, his & her spa bath & expansive walk-in closets. Marble and hardwood floors, crown moldings, radiant heat. Gourmet kitchen, wine cellar, bar, movie
theater and more.

CUSTOM DETAILING WITH OVER 6000′ FINISHED SF. LOADED WITH NATURAL LIGHT FLOODING THROUGHOUT THIS IMPRESSIVE HOME. MAJESTIC ENTRANCE/FOYER OVERLOOKING GREAT ROOM/DINING AREA, GORGEOUS GOURMET/CUSTOM KITCHEN LOADED WITH VIKING, ASKO & SUB-ZERO APPLIANCES & INTEGRATED WINE REFRIGERATOR. OVER-SIZED MASTER BEDROOM SUITE W/TWO BALCONIES, ALL BEDROOMS HAVE EN-SUITE BATHROOMS. OPEN KITCHEN TO FAMILY ROOM, REC ROOM LOCATED ON ENTRY LEVEL WITH LAUNDRY ROOM. UNRIVALED IN-LAW QUARTERS WITH SECOND KITCHEN, WORK-OUT AREA, BEDROOM/BATHROOM AND 2ND OFFICE AREA. QUIET LIBRARY/STUDY OVERLOOKING BACKYARD, HUGE 3-CAR GARAGE WITH EXTRA STORAGE. WHOLE HOUSE GENERATOR. THIS LISTING INCLUDES THE VACANT PARCEL ACROSS THE STREET 1754 LONG LAKE SHORE LOCATED ON UPPER LONG LAKE.

The Zestimate® home value is Zillow’s estimated market value for an individual home and is calculated for about 100 million homes nationwide. It is a starting point in determining a home’s value and is not an official appraisal. The Zestimate is automatically computed daily based on millions of public and user-submitted data points.

Pros and Cons.

Pros:

• Convenience – don’t need to call anyone
• Quick – don’t have to wait for it
• Free – so is CMA by professional real estate agent. Nobody will charge for that.

Cons:

• It’s not correct! Currently, on average they are within 5% of the actual sale price only 41% of the time!
• Would you want to sell the biggest asset you own at the price that with 59% accuracy is not correct?

How is Zestimate determined? Based on average numbers. It looks at the homes in that area and calculates average price based on number of bedrooms, sq ft etc. But what if your home is not average? What if you spent 30K on kitchen remodeling? What is your house is located on cul de sac, vs busy street? What if you house is located in Troy but you have Birmingham schools and you are the only house on market in that area at the moment? Zillow doesn’t take into account any of that…

“Zestimate is a good starting point as well as a historical reference, but it should not be used for pricing a home”. (Zillow Web Site)

I hope by now I have convinced you that to determine your home value you should use a help of professional.