29% price plunge on a new house in San Marcos

[cantab]

882 GENOA WAY, SAN MARCOS, CA 92078

4011 sqft, sold new for $1,090,000 on 06/22/2005. Now listed as an approved short sale for $775,000, which is down 29%.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1109166

Can anyone comment on how values in this tract track values in other areas?

[XBoxBoy]

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

[XBoxBoy]

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

[XBoxBoy]

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

[Raybyrnes]

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.

[Raybyrnes]

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.

[Raybyrnes]

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.

[POZ]

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.

[POZ]

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.

[POZ]

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.

[XBoxBoy]

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.

[XBoxBoy]

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.

[XBoxBoy]

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.

[CBad]

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.

[CBad]

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.

[Author]

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