Data Issues, Part I

We ALL know that data can be manipulated, right?  That happens all the time in real estate, and it drives me crazy.  Part of the problem is Zillow and the proliferation of third-party syndicates that masquerade as offering accessible and exhaustive information, and part of it (to be honest) is that realtors and other people don’t know how to analyze data.  If you don’t know what to look for or how to interpret data, you’ll be easily duped into believing the wrong thing but you’ll feel confident because you THINK you’re relying on actual science.  In real estate, this can translate into losing a lot of money.  Knowing what counts as good data=$.

In the next few newsletters, I’d like to shed some light on some very common and costly mistakes that I see all the time.  The first one is misreading and misunderstanding Days on Market information.  In the following video, I demonstrate exactly why you can’t trust what you see and why it’s a problem.