Their new algorithm is even more rubbish than their old one. My friend’s home in Aliso Viejo went up from $340,000 to now $467,000, what a load of crap! I have checked comps and they are selling for around $350,000! It’s a 1300 sqft townhome for god’s sake! The peak appraisal before the crash for this home was $525,000 so is Zillow implying that it is at 11% below the peak? Hogwash!
In addition another friend’s home which he bought for $680,000 in 2007 had a ZEstimate at $570,000, now it is $1,226,400..I kid you not! So according to Zillow this home has APPRECIATED by 80% since 2007!!!!!
What a load of rubbish, I think it’s time Zillow close it’s doors because the site is practically worthless.
