Any data come out lately Rich?

[moneymaker]

Just wondering as I got an automated email from Zillow saying my home value has dropped, first time seeing that in a while.

[Rich Toscano]

Gonna wait for the Feb data at this point, hopefully should have that soon.

As far as Zillow, my own experience is that their individual home-level estimates are meaningless. Can’t say about your neighborhood, but SD wide the trend still seems to be up.

[bearishgurl]

[quote=Rich Toscano]Gonna wait for the Feb data at this point, hopefully should have that soon.

As far as Zillow, my own experience is that their individual home-level estimates are meaningless. Can’t say about your neighborhood, but SD wide the trend still seems to be up.[/quote]Agree, Rich. Zillow estimates are meaningless. They very often use very dated info re: current size of dwelling and don’t take into account condition of dwelling (a biggie). I have found that Zillow also factors in nearby deeply-discounted distress sales, sales of unimproved lots and even “sales” between family members as “recent sold comps” to determine the value of a nearby parcel. The methodology they use is slapdash and stupid, IMO.

It reminds me of looking myself up on a popular “identity aggregator” online which charges the public for each record or “memberships” and finding on it two cities in which I have never resided in, lol …..

[poorgradstudent]

Zillow is pretty automated, and the less your property is like those in the neighborhood, the worst the estimate will be.

My zip code has still been going up lately.

[Rich Toscano]

Case in point, I just looked at Zillow’s estimate of my house. According to Zillow, my house’s value has increased 29% in… wait for it… 3 months.

Either they were way off 3 months ago, or they are way off now (or both)… point is, this is not a meaningful number.

Again, speaking of individual houses. Maybe the area-wide estimates are good.

[moneymaker]

Yeah I’ve noticed strange things like that with Zillow , they will say my house has gone up $3,000 every month for a year then the yearly increase will not support that.

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