Skill: ivangdavila/zillow (version 1.0.0)

--- name: Zillow slug: zillow version: 1.0.0 description: Navigate Zillow for buying, selling, investing, and market research with Zestimate interpretation, pricing strategy, and ROI analysis. metadata: {"clawdbot":{"emoji":"🏠","requires":{"bins":[]},"os":["linux","darwin","win32"]}} --- ## When to Use User needs help with US real estate via Zillow. Agent handles property search, Zestimate analysis, investment calculations, pricing strategy, and market trends. ## Quick Reference | Topic | File | |-------|------| | Investor calculations | `investing.md` | | Pricing strategy | `pricing.md` | ## Core Rules ### 1. Zestimate is an Estimate, Not a Price - ALWAYS caveat Zestimates: "Zillow's estimate, typically 5-15% off in this market" - Check Zestimate accuracy for the specific ZIP — varies wildly by location - Never use Zestimate as sole pricing guidance - For sellers: compare to actual SOLD prices, not Zestimates - For investors: Zestimate rents are even less reliable than home values ### 2. Calculate True Monthly Costs For buyers, always include ALL components: | Component | Notes | |-----------|-------| | Principal + Interest | Based on current rates | | Property taxes | Pull actual, not Zillow estimate | | Homeowners insurance | Varies by region/flood zone | | PMI | If down payment < 20% | | HOA fees | Check for special assessments | | Mello-Roos/special districts | California especially | ### 3. Market Context is Hyperlocal - National trends are meaningless — real estate is ZIP-code specific - "Days on Market" benchmarks differ: 10 DOM is slow in Phoenix, fast in NYC - Always specify property type (SFH vs condo vs townhouse) — different markets - Seasonal patterns vary by region: Phoenix summer ≠ Chicago summer ### 4. Investment Metrics Must Be Conservative For rental property analysis, see `investing.md`. Key traps: - Use 50% expense rule as MINIMUM, not ceiling - Cap rate uses purchase price, not list price - Factor vacancy (5-15% depending on market) - Zestimate rent is often wrong — verify with actual rental comps ### 5. Zillow Data Lags - Listings may be 1-2 days behind MLS - Status (active/pending/sold) can be stale - Zestimate updates monthly, not daily - Always note data recency when citing stats ### 6. Role-Specific Guidance | User Type | Key Concerns | |-----------|--------------| | First-time buyer | FHA programs, true monthly cost, avoid overbidding | | Investor | Cap rate, cash-on-cash return, expense reality | | Seller | Competitive pricing, overpricing trap, market timing | | Agent | Premier Agent leads, CMA comps, listing optimization | ## Zillow Traps ### For All Users - Zestimate ≠ market value (can be 20%+ off in unusual properties) - Listing price ≠ sale price (especially in hot/cold markets) - "Views" and "saves" include nosy neighbors, not just buyers - Square footage and bed count often wrong — verify with county records ### For Buyers - Contingent/pending listings may show as available - Don't waive inspection to "be competitive" — especially first-timers - Pre-approval ≠ pre-qualification (huge difference for offers) - Earnest money timing catches people off guard ### For Investors - High cap rate often means high risk (war zones, declining areas) - Zestimate rent wildly inaccurate in many markets - Property taxes can change dramatically after purchase - Don't calculate returns on list price — use realistic acquisition cost ### For Sellers - Overpricing → stale listing → sells for LESS than fair price - Price reductions signal desperation to buyers - "For Sale By Owner" on Zillow gets less visibility than MLS - Zillow doesn't know your renovations or deferred maintenance ## Data Sources to Cross-Reference - County assessor (actual tax records) - FEMA flood maps - Rentometer/Apartments.com (rental comps) - Crime/school rating sites - Local MLS for real-time accuracy

path: investing.md
content: # Investment Analysis — Zillow

## Core Metrics

| Metric | Formula | Target |
|--------|---------|--------|
| Cap Rate | (Gross Rent - Expenses) / Purchase Price | >6% typical |
| Cash-on-Cash | Annual Cash Flow / Total Cash Invested | >8% desirable |
| GRM | Purchase Price / Annual Gross Rent | <10 is good |
| 1% Rule | Monthly Rent ≥ 1% of Purchase Price | Quick screen |
| DSCR | NOI / Annual Debt Service | >1.25 for loans |

## Expense Estimation

The 50% rule is a starting point, not gospel. Actual breakdown:

| Category | Typical % of Gross Rent |
|----------|------------------------|
| Property taxes | 8-15% (varies wildly) |
| Insurance | 5-10% |
| Vacancy | 5-15% |
| Maintenance | 8-12% |
| CapEx reserves | 5-10% |
| Property management | 8-12% |
| Utilities (if paid) | 0-10% |

## What Zillow Gets Wrong

**Rent Zestimates:**
- Often 10-20% off actual achievable rent
- Doesn't account for property condition
- Ignores Section 8/voucher market dynamics
- Misses seasonal fluctuations (college towns)

**Purchase Price Assumptions:**
- Use realistic acquisition cost, not list price
- Factor in closing costs (2-5%)
- Include rehab budget if needed
- Account for negotiation in your market

## Market Quality Checklist

Before trusting high cap rates, verify:
- [ ] Population trend (growing = good)
- [ ] Job market stability
- [ ] Crime statistics by neighborhood
- [ ] Landlord-tenant law friendliness (eviction timelines)
- [ ] Rent control/stabilization laws
- [ ] Property tax trajectory

## Negative Leverage Warning

If cap rate < mortgage rate, you have negative leverage:
- 7% cap rate with 8% interest = losing money on borrowed portion
- Cash deals and financed deals require different analysis
- Always calculate BOTH scenarios


path: pricing.md
content: # Pricing Strategy — Zillow

## For Sellers

### Competitive Analysis Steps
1. Pull recently SOLD homes (not active/pending) within 0.5 miles
2. Filter by similar: beds, baths, sqft (±15%), lot size
3. Note sold price AND days on market
4. Adjust for condition differences (updated kitchen = +$X)
5. Look at currently ACTIVE competitors — you're competing with them

### Pricing Psychology

| Strategy | When to Use |
|----------|-------------|
| At market | Standard — aim for quick sale at fair value |
| 5% under market | Want multiple offers, bidding war |
| 10% over market | Unique property, testing the market |
| Make Me Move | Not actively selling, opportunistic only |

### The Overpricing Trap
1. List 10% high → no showings
2. Sit 30+ days → listing goes "stale"
3. Reduce price → signals desperation
4. Sell for LESS than if priced right initially

**Rule:** Better to price right and get multiple offers than overprice and chase the market down.

### Timing Considerations
- Check DOM trends: if inventory rising, price sharper
- Seasonal patterns matter (spring ≠ winter)
- Interest rate spikes reduce buyer pools
- New competing listings = consider waiting or adjusting

## For Buyers

### Offer Strategy by Market

| Market Type | How to Identify | Offer Strategy |
|-------------|-----------------|----------------|
| Hot seller's | DOM <14, multiple offers common | At/above ask, minimize contingencies |
| Balanced | DOM 30-60, some negotiation | At ask, standard contingencies |
| Buyer's | DOM >60, price cuts common | 5-10% under, full contingencies |

### Zestimate vs Offer Price
- Don't anchor to Zestimate — it's an algorithm, not an appraisal
- Pull actual comps: what did similar homes SELL for?
- In hot markets, Zestimate often LAGS actual values
- In slow markets, Zestimate may be ABOVE actual values

### What Affects Your Offer Strength

| Factor | Impact |
|--------|--------|
| Cash vs financed | Cash wins, always |
| Down payment size | 20%+ beats 3.5% FHA |
| Contingencies | Fewer = stronger (but riskier) |
| Close timeline | Flexible = attractive to sellers |
| Pre-approval vs pre-qual | Pre-approval is mandatory |
| Earnest money | Larger deposit = more serious |


Security scan verdicts — ClawScan: clean | static analysis: clean | VirusTotal: clean | SkillSpector: clean (LOW)