It is apparent that the people in the room don’t agree with Zillow’s Zestimates. Zillow is easy to use, but beyond identfying what a property’s general attributes are it isn’t reliable enough upon which to base any decisions.
Think of Zillow in terms of it’s entertainment value.
It could be that the house in Glendale was never really worth the $1.9, or it could be that upon purchase the debtor started a major remodel that didn’t get beyond the demolition. There could be any of several reasons for the differences.
The same thing for the Covina house. Unless you’ve seen it you don’t know what it really is.
Buying a property is the easy part, Buying it at a price that will result in a profit of sufficient amount to justify the risk of purchase + resale is the hard part.
