Zillow gone wild?

[kev374]

ZEstimate for several properties in South OC that I have bookmarked are skyrocketing. One home that was $540,000 few months ago is now $655,000…Riighht! I think they are just pulling numbers out of their [you know what]

[UCGal]

I have no clue why/how zillow gets their numbers.

For example – my house. Same models on our street, also without any additions, are showing $100k or more higher than ours. All of these houses are 40+ years old. The only thing I can figure is that our front yard isn’t as nice. They sure as heck don’t know what the state of the inside is. For all Zillow knows we could have the most fantabulous decked out new bathrooms/kitchens with hand crafted hardword floors installed by artisons. How would zillow know?

Now, we’ve added a companion unit – which changed our deed status to multi-family. Zillow shows us as multifamily, but does not give us the added square footage. And obviously doesn’t give us the added value of having a detached 1 bedroom rental unit.

It doesn’t matter to me. I’m not planning on selling anytime in the near or longterm… we’re here for the long haul. But my house is proof that Zillow seems to pull numbers out of their butt. They don’t seem to have much credibility.

[UCGal]

I have no clue why/how zillow gets their numbers.

For example – my house. Same models on our street, also without any additions, are showing $100k or more higher than ours. All of these houses are 40+ years old. The only thing I can figure is that our front yard isn’t as nice. They sure as heck don’t know what the state of the inside is. For all Zillow knows we could have the most fantabulous decked out new bathrooms/kitchens with hand crafted hardword floors installed by artisons. How would zillow know?

Now, we’ve added a companion unit – which changed our deed status to multi-family. Zillow shows us as multifamily, but does not give us the added square footage. And obviously doesn’t give us the added value of having a detached 1 bedroom rental unit.

It doesn’t matter to me. I’m not planning on selling anytime in the near or longterm… we’re here for the long haul. But my house is proof that Zillow seems to pull numbers out of their butt. They don’t seem to have much credibility.

[UCGal]

I have no clue why/how zillow gets their numbers.

For example – my house. Same models on our street, also without any additions, are showing $100k or more higher than ours. All of these houses are 40+ years old. The only thing I can figure is that our front yard isn’t as nice. They sure as heck don’t know what the state of the inside is. For all Zillow knows we could have the most fantabulous decked out new bathrooms/kitchens with hand crafted hardword floors installed by artisons. How would zillow know?

Now, we’ve added a companion unit – which changed our deed status to multi-family. Zillow shows us as multifamily, but does not give us the added square footage. And obviously doesn’t give us the added value of having a detached 1 bedroom rental unit.

It doesn’t matter to me. I’m not planning on selling anytime in the near or longterm… we’re here for the long haul. But my house is proof that Zillow seems to pull numbers out of their butt. They don’t seem to have much credibility.

[UCGal]

I have no clue why/how zillow gets their numbers.

For example – my house. Same models on our street, also without any additions, are showing $100k or more higher than ours. All of these houses are 40+ years old. The only thing I can figure is that our front yard isn’t as nice. They sure as heck don’t know what the state of the inside is. For all Zillow knows we could have the most fantabulous decked out new bathrooms/kitchens with hand crafted hardword floors installed by artisons. How would zillow know?

Now, we’ve added a companion unit – which changed our deed status to multi-family. Zillow shows us as multifamily, but does not give us the added square footage. And obviously doesn’t give us the added value of having a detached 1 bedroom rental unit.

It doesn’t matter to me. I’m not planning on selling anytime in the near or longterm… we’re here for the long haul. But my house is proof that Zillow seems to pull numbers out of their butt. They don’t seem to have much credibility.

[UCGal]

I have no clue why/how zillow gets their numbers.

For example – my house. Same models on our street, also without any additions, are showing $100k or more higher than ours. All of these houses are 40+ years old. The only thing I can figure is that our front yard isn’t as nice. They sure as heck don’t know what the state of the inside is. For all Zillow knows we could have the most fantabulous decked out new bathrooms/kitchens with hand crafted hardword floors installed by artisons. How would zillow know?

Now, we’ve added a companion unit – which changed our deed status to multi-family. Zillow shows us as multifamily, but does not give us the added square footage. And obviously doesn’t give us the added value of having a detached 1 bedroom rental unit.

It doesn’t matter to me. I’m not planning on selling anytime in the near or longterm… we’re here for the long haul. But my house is proof that Zillow seems to pull numbers out of their butt. They don’t seem to have much credibility.

[Reality]

[quote=Eugene]According to Zillow, my house has gone up 150K in the last two months, and it stands at 210K above what I paid in January.

I keep an eye on comps and I can say with certainty that there’s zero chance of my house appraising or selling for what Zillow thinks it’s worth. But it’s a nice feeling nonetheless.[/quote]

It is nice to fantasize sometimes.

[Reality]

[quote=Eugene]According to Zillow, my house has gone up 150K in the last two months, and it stands at 210K above what I paid in January.

I keep an eye on comps and I can say with certainty that there’s zero chance of my house appraising or selling for what Zillow thinks it’s worth. But it’s a nice feeling nonetheless.[/quote]

It is nice to fantasize sometimes.

[Reality]

[quote=Eugene]According to Zillow, my house has gone up 150K in the last two months, and it stands at 210K above what I paid in January.

I keep an eye on comps and I can say with certainty that there’s zero chance of my house appraising or selling for what Zillow thinks it’s worth. But it’s a nice feeling nonetheless.[/quote]

It is nice to fantasize sometimes.

[Reality]

[quote=Eugene]According to Zillow, my house has gone up 150K in the last two months, and it stands at 210K above what I paid in January.

I keep an eye on comps and I can say with certainty that there’s zero chance of my house appraising or selling for what Zillow thinks it’s worth. But it’s a nice feeling nonetheless.[/quote]

It is nice to fantasize sometimes.

[Reality]

[quote=Eugene]According to Zillow, my house has gone up 150K in the last two months, and it stands at 210K above what I paid in January.

I keep an eye on comps and I can say with certainty that there’s zero chance of my house appraising or selling for what Zillow thinks it’s worth. But it’s a nice feeling nonetheless.[/quote]

It is nice to fantasize sometimes.

[propertysearchaddiction]

Homeowners love to quote Zillow
Homeshoppers love to quote Cyberhomes

The reality is usually some where in the middle.

Classic example: 3722 Sq Ft
862 Genoa Way
San Marcos Ca 92078
3722 Sq Ft

Zillow ZESTIMATE®: $746,500
Cyberhomes $575,000

Here is the next door neighbor’s Zestimate.

860 Genoa Way
San Marcos CA 92078
3,728 sq ft

Zestimate®: $1,011,500

[propertysearchaddiction]

Homeowners love to quote Zillow
Homeshoppers love to quote Cyberhomes

The reality is usually some where in the middle.

Classic example: 3722 Sq Ft
862 Genoa Way
San Marcos Ca 92078
3722 Sq Ft

Zillow ZESTIMATE®: $746,500
Cyberhomes $575,000

Here is the next door neighbor’s Zestimate.

860 Genoa Way
San Marcos CA 92078
3,728 sq ft

Zestimate®: $1,011,500

[propertysearchaddiction]

Homeowners love to quote Zillow
Homeshoppers love to quote Cyberhomes

The reality is usually some where in the middle.

Classic example: 3722 Sq Ft
862 Genoa Way
San Marcos Ca 92078
3722 Sq Ft

Zillow ZESTIMATE®: $746,500
Cyberhomes $575,000

Here is the next door neighbor’s Zestimate.

860 Genoa Way
San Marcos CA 92078
3,728 sq ft

Zestimate®: $1,011,500

[propertysearchaddiction]

Homeowners love to quote Zillow
Homeshoppers love to quote Cyberhomes

The reality is usually some where in the middle.

Classic example: 3722 Sq Ft
862 Genoa Way
San Marcos Ca 92078
3722 Sq Ft

Zillow ZESTIMATE®: $746,500
Cyberhomes $575,000

Here is the next door neighbor’s Zestimate.

860 Genoa Way
San Marcos CA 92078
3,728 sq ft

Zestimate®: $1,011,500

[Author]

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