Zillow is pretty bad with estimating older areas with drastically different construction quality, views, and lot sizes. I also noticed they will increase a place by 25% in a year and say it went up 5%. Which is OK if they are just saying their old estimates were wrong, but this happens a lot.
They also seem to invariably have a really pessimistic 1 year price projection. During a boom with annual increases of 7% and more, the projection was always 3% to -1%, even when inventory was very low.
I give them credit for still being better than redfin. But it’s also disappointing that Zillow doesn’t seem to be any more accurate than it was 10 years ago. Appraisals are perfect for big data AI.[/quote]
No they arent which is why they arent better. They have no way of knowing what the house looks like inside, that 6K sq ft usable lot can better than a 10K lot that has less usable land, how good a view, that there can be street noise on one side of a road but not another and so on. There is no substitute for in person valuation. None! There are far too many variables that must be seen in person and the fact zillow way overpaid for many homes and lost a ton is a perfect example of it in action.
Hell last year you were going on and on about a house in Encinitas thinking it was a short walk to the beach when in reality one would have to cut through someones house and jump off a 200 ft cliff to get to the beach in the time you thought looking at google maps
On another link I posted you said it was the nicest 2br detached house you had ever seen but it was a twinhome not a detached house. Mistakes abound
