San Diego Housing Bubble News and Analysis

Gotta love it, there's zillow saying that this house is worth $1,146,173. What an incredibly worthless POS zillow is.

XBoxBoy

How do you figure Zillow to be worthless? First off it is free. Second, no one is saying the the zestimates are useful. The useful data is the comps in the area, the tax information years of purchase etc. Additionally as transactional data gets added to zillow it will continue to get more accurate.

Zillow is sort of like Aybo the robotic dog. If you think you are going to use it to replace a real dog you are an idiot. If on the other hand you simply use it as a novelity or entertainment piece then you get what it represents.

It's decietful, the robotic dog in your analogy does not "pretend" to be real or the least bit useful it is for entertaining purposes only. Zillow purposely (because they are financed by the housing industry) inflate the zestimate models to the high side. The models it uses for calculating the home "value" were designed during the upturn they do not account for lossess. Zillow is a joke, use with caution.

Raybyrnes, I meant that Zillow was worthless, as an expression, not an actual accounting of the cost versus value. Zillow tries to promote itself as a tool to help you with real estate transactions, and as such I see no value. Now Aybo the robotic dog, I can see as having real value since I love dogs but my wife is allergic to them. Admittedly, not as wonderful as a real dog, but better than nothing. Which I guess makes me an idiot by your standards. Oh well, I've been called worse.

Zillow is definitely not always high. Houses that haven't sold for a long, long time are often undervalued on zillow. You take two houses in a neighborhood that are identical, one sold recently, the other hasn't sold in 30 years and they'll be very different zestimates.

$775K is so BF (Before Fire). AF price should crack atleast $700K line, if not $600K.

Zillow is the most useful RE site out there at the moment. Like all other new technologies, it has its flaws. But with more time and more data, it'll get better. No new technologies/website come out perfect from day 1. Add Zillow with ZipRealty for MLS info and you have a very useful duo. I challenge you to find another site that provide sales history and map w/ info like Zillow that's easy to navigate.

"Zillow tries to promote itself as a tool to help you with real estate transactions, and as such I see no value."

SO what then does qualify as being helpful. I would like to better understand what you are looking for. You have a map of the area. Comps for recent sales. Tax information. What specificiallyar you looking to get. Real estate is is a fragmented industry. An apartment can have a 3 million dollar price tag if it is on the top floor and ahs an ocean view and a 500K price tag in the same building if it is on a middle floor in the back alley. Pretty tough to develop[ an all encompassing system to account for this.

Again, what should zillow be?

1, Have you tried getting into Genoa and outa SEhills if there is a fire.This area isa fire trap IMHO...
2. Don't forget the Mello rooss in that subdivision with HOA is around $6000 extra.
3. These houses are about to reset.