Zillow Observation

[beachlover]

Just an observation about zillow. I owned a CV property for over 20 years. When I checked zillow, it valued my property well below (more than 25%)other comparable houses in my development. It didn’t make sense to me, except that the other properties had turned over and obviously mine hadn’t.

I sold this property this fall. Just for fun I checked zillow over the weekend and low and behold, my property has increased in value to be comparable to the neighborhood. In fact, the zillow value is higher than most…..

I would never use zillow for comps. but know that some folks think it reflects worth.

[cr]

Zillow has also become a place for home owners (money renters) to come and complain that the value of their home is too low.

Next time you’re on check out the discussions. There must be a thousand people on there who think their $500,000 2000 sq ft tract home is under valued because they just remodeled it (without permits) and put in SS appliances.

They are in for a treat once Zillow updates their formulas.

[CMcG]

cooprider–

I did go over there and look at the discussion forums. You’re right — people are bitching like hell because the new algorhythm (sp?) the site has apparently begun using in recent weeks has not only widely changed values (some are way up, some are way down) but because Z apparently changed all the the Zestimate histories. I have to admit I am perplexed about why they did that. My own house value went down $50K practically overnight. I don’t care, because I am not selling…probably never will in my lifetime.

What’s a bit worrisome, though, is that some people are reporting that there are lenders refusing to talk to some people trying, for example, to refi and those lenders are basing that JUST on the Zillow estimate. There are people on there demanding (even threatening to sue) that their Zestimate be removed. They don’t care if the public info about the sales price is up there, but they want the Zestimate GONE. Zillow has responded to these people with a flat-out NO.

[CMcG]

Bumping this, because I think the recent Zillow changes are worthy of discussion. I hope some of you guys do, too.

[CMcG]

Bumping this, because I think the recent Zillow changes are worthy of discussion. I hope some of you guys do, too.

[CMcG]

Bumping this, because I think the recent Zillow changes are worthy of discussion. I hope some of you guys do, too.

[CMcG]

Bumping this, because I think the recent Zillow changes are worthy of discussion. I hope some of you guys do, too.

[CMcG]

Bumping this, because I think the recent Zillow changes are worthy of discussion. I hope some of you guys do, too.

[PadreBrian]

HOW DARE THEY SAY MY HOUSE IS GOING DOWN IN VALUE! How dare they!

lol

[Ash Housewares]

Looks like the major changes include incorporating user edited data, and over 20x more models to choose from to suit a particular area.

Zestimates should also incorporate interest rates, but I don’t think they do.

[Ash Housewares]

Looks like the major changes include incorporating user edited data, and over 20x more models to choose from to suit a particular area.

Zestimates should also incorporate interest rates, but I don’t think they do.

[Ash Housewares]

Looks like the major changes include incorporating user edited data, and over 20x more models to choose from to suit a particular area.

Zestimates should also incorporate interest rates, but I don’t think they do.

[Ash Housewares]

Looks like the major changes include incorporating user edited data, and over 20x more models to choose from to suit a particular area.

Zestimates should also incorporate interest rates, but I don’t think they do.

[Ash Housewares]

Looks like the major changes include incorporating user edited data, and over 20x more models to choose from to suit a particular area.

Zestimates should also incorporate interest rates, but I don’t think they do.

[PadreBrian]

HOW DARE THEY SAY MY HOUSE IS GOING DOWN IN VALUE! How dare they!

lol

[PadreBrian]

HOW DARE THEY SAY MY HOUSE IS GOING DOWN IN VALUE! How dare they!

lol

[PadreBrian]

HOW DARE THEY SAY MY HOUSE IS GOING DOWN IN VALUE! How dare they!

lol

[PadreBrian]

HOW DARE THEY SAY MY HOUSE IS GOING DOWN IN VALUE! How dare they!

lol

[cr]

PadreBrian – That’s funny.

CMcG – Your persective is the right one. Unless you’re planning to sell your home and become rich rich rich! who cares (within reason) what the value does. As long as you can afford it, so what?

I’ll have to check out the people threatening to sue, though I’m sure Zillow is protected from that.

My guess is their Algorithm now reflects sales in the area below Zestimates. Someone on hear a while back commented that when a house sold for more then theirs the value would go up, but if a house sold for less it wouldn’t. If that changed it would certainly be the dose of reality people have ignored in this housing crash.

[donaldduckmoore]

I like to use Zillow because it always gives me accurate location of the house I am looking for. But I usually ignore the estimate they quote.

[denverite]

Having been overseas 2005-2007, and now living in Denver, I have used several approaches to track SD and Ventura RE from afar. Here is my 2 cents.

realtor.com, ziprealty.com (# of listings within a given price range/area). I know they don’t provide all listings for the general public, but I think it’s the trend that counts. From what I can see, there has been about a doubling of the number of houses (600-900K range) on the market in the North County area since 9/07.

Zillow (valuations for 12 “Favorite Homes” are tracked over time. In absolute terms, this might not be all that useful, but I follow the peak/current price trend). I was wondering if you (as local observers) corroborate that Zillow relative valuation pretty much mirrors the situation on the ground, especially for a given property. Also, does anyone know how often Zillow (peridically) updates their zestimates.

Uhaul truck rental prices (to/from SD to various other parts of the country) – has been about 3.3:1 ratio to move out of SD (vs. move to) for the last 2 years. I guess if that ratio moves higher for a sustained period, it might be a somewhat useful indicator.

Well, maybe 1 cent worth.

[denverite]

Having been overseas 2005-2007, and now living in Denver, I have used several approaches to track SD and Ventura RE from afar. Here is my 2 cents.

realtor.com, ziprealty.com (# of listings within a given price range/area). I know they don’t provide all listings for the general public, but I think it’s the trend that counts. From what I can see, there has been about a doubling of the number of houses (600-900K range) on the market in the North County area since 9/07.

Zillow (valuations for 12 “Favorite Homes” are tracked over time. In absolute terms, this might not be all that useful, but I follow the peak/current price trend). I was wondering if you (as local observers) corroborate that Zillow relative valuation pretty much mirrors the situation on the ground, especially for a given property. Also, does anyone know how often Zillow (peridically) updates their zestimates.

Uhaul truck rental prices (to/from SD to various other parts of the country) – has been about 3.3:1 ratio to move out of SD (vs. move to) for the last 2 years. I guess if that ratio moves higher for a sustained period, it might be a somewhat useful indicator.

Well, maybe 1 cent worth.

[denverite]

Having been overseas 2005-2007, and now living in Denver, I have used several approaches to track SD and Ventura RE from afar. Here is my 2 cents.

realtor.com, ziprealty.com (# of listings within a given price range/area). I know they don’t provide all listings for the general public, but I think it’s the trend that counts. From what I can see, there has been about a doubling of the number of houses (600-900K range) on the market in the North County area since 9/07.

Zillow (valuations for 12 “Favorite Homes” are tracked over time. In absolute terms, this might not be all that useful, but I follow the peak/current price trend). I was wondering if you (as local observers) corroborate that Zillow relative valuation pretty much mirrors the situation on the ground, especially for a given property. Also, does anyone know how often Zillow (peridically) updates their zestimates.

Uhaul truck rental prices (to/from SD to various other parts of the country) – has been about 3.3:1 ratio to move out of SD (vs. move to) for the last 2 years. I guess if that ratio moves higher for a sustained period, it might be a somewhat useful indicator.

Well, maybe 1 cent worth.

[denverite]

Having been overseas 2005-2007, and now living in Denver, I have used several approaches to track SD and Ventura RE from afar. Here is my 2 cents.

realtor.com, ziprealty.com (# of listings within a given price range/area). I know they don’t provide all listings for the general public, but I think it’s the trend that counts. From what I can see, there has been about a doubling of the number of houses (600-900K range) on the market in the North County area since 9/07.

Zillow (valuations for 12 “Favorite Homes” are tracked over time. In absolute terms, this might not be all that useful, but I follow the peak/current price trend). I was wondering if you (as local observers) corroborate that Zillow relative valuation pretty much mirrors the situation on the ground, especially for a given property. Also, does anyone know how often Zillow (peridically) updates their zestimates.

Uhaul truck rental prices (to/from SD to various other parts of the country) – has been about 3.3:1 ratio to move out of SD (vs. move to) for the last 2 years. I guess if that ratio moves higher for a sustained period, it might be a somewhat useful indicator.

Well, maybe 1 cent worth.

[denverite]

Having been overseas 2005-2007, and now living in Denver, I have used several approaches to track SD and Ventura RE from afar. Here is my 2 cents.

realtor.com, ziprealty.com (# of listings within a given price range/area). I know they don’t provide all listings for the general public, but I think it’s the trend that counts. From what I can see, there has been about a doubling of the number of houses (600-900K range) on the market in the North County area since 9/07.

Zillow (valuations for 12 “Favorite Homes” are tracked over time. In absolute terms, this might not be all that useful, but I follow the peak/current price trend). I was wondering if you (as local observers) corroborate that Zillow relative valuation pretty much mirrors the situation on the ground, especially for a given property. Also, does anyone know how often Zillow (peridically) updates their zestimates.

Uhaul truck rental prices (to/from SD to various other parts of the country) – has been about 3.3:1 ratio to move out of SD (vs. move to) for the last 2 years. I guess if that ratio moves higher for a sustained period, it might be a somewhat useful indicator.

Well, maybe 1 cent worth.

[donaldduckmoore]

I like to use Zillow because it always gives me accurate location of the house I am looking for. But I usually ignore the estimate they quote.

[donaldduckmoore]

I like to use Zillow because it always gives me accurate location of the house I am looking for. But I usually ignore the estimate they quote.

[donaldduckmoore]

I like to use Zillow because it always gives me accurate location of the house I am looking for. But I usually ignore the estimate they quote.

[donaldduckmoore]

I like to use Zillow because it always gives me accurate location of the house I am looking for. But I usually ignore the estimate they quote.

[cr]

PadreBrian – That’s funny.

CMcG – Your persective is the right one. Unless you’re planning to sell your home and become rich rich rich! who cares (within reason) what the value does. As long as you can afford it, so what?

I’ll have to check out the people threatening to sue, though I’m sure Zillow is protected from that.

My guess is their Algorithm now reflects sales in the area below Zestimates. Someone on hear a while back commented that when a house sold for more then theirs the value would go up, but if a house sold for less it wouldn’t. If that changed it would certainly be the dose of reality people have ignored in this housing crash.

[cr]

PadreBrian – That’s funny.

CMcG – Your persective is the right one. Unless you’re planning to sell your home and become rich rich rich! who cares (within reason) what the value does. As long as you can afford it, so what?

I’ll have to check out the people threatening to sue, though I’m sure Zillow is protected from that.

My guess is their Algorithm now reflects sales in the area below Zestimates. Someone on hear a while back commented that when a house sold for more then theirs the value would go up, but if a house sold for less it wouldn’t. If that changed it would certainly be the dose of reality people have ignored in this housing crash.

[cr]

PadreBrian – That’s funny.

CMcG – Your persective is the right one. Unless you’re planning to sell your home and become rich rich rich! who cares (within reason) what the value does. As long as you can afford it, so what?

I’ll have to check out the people threatening to sue, though I’m sure Zillow is protected from that.

My guess is their Algorithm now reflects sales in the area below Zestimates. Someone on hear a while back commented that when a house sold for more then theirs the value would go up, but if a house sold for less it wouldn’t. If that changed it would certainly be the dose of reality people have ignored in this housing crash.

[cr]

PadreBrian – That’s funny.

CMcG – Your persective is the right one. Unless you’re planning to sell your home and become rich rich rich! who cares (within reason) what the value does. As long as you can afford it, so what?

I’ll have to check out the people threatening to sue, though I’m sure Zillow is protected from that.

My guess is their Algorithm now reflects sales in the area below Zestimates. Someone on hear a while back commented that when a house sold for more then theirs the value would go up, but if a house sold for less it wouldn’t. If that changed it would certainly be the dose of reality people have ignored in this housing crash.

[CMcG]

cooprider–

I did go over there and look at the discussion forums. You’re right — people are bitching like hell because the new algorhythm (sp?) the site has apparently begun using in recent weeks has not only widely changed values (some are way up, some are way down) but because Z apparently changed all the the Zestimate histories. I have to admit I am perplexed about why they did that. My own house value went down $50K practically overnight. I don’t care, because I am not selling…probably never will in my lifetime.

What’s a bit worrisome, though, is that some people are reporting that there are lenders refusing to talk to some people trying, for example, to refi and those lenders are basing that JUST on the Zillow estimate. There are people on there demanding (even threatening to sue) that their Zestimate be removed. They don’t care if the public info about the sales price is up there, but they want the Zestimate GONE. Zillow has responded to these people with a flat-out NO.

[CMcG]

cooprider–

I did go over there and look at the discussion forums. You’re right — people are bitching like hell because the new algorhythm (sp?) the site has apparently begun using in recent weeks has not only widely changed values (some are way up, some are way down) but because Z apparently changed all the the Zestimate histories. I have to admit I am perplexed about why they did that. My own house value went down $50K practically overnight. I don’t care, because I am not selling…probably never will in my lifetime.

What’s a bit worrisome, though, is that some people are reporting that there are lenders refusing to talk to some people trying, for example, to refi and those lenders are basing that JUST on the Zillow estimate. There are people on there demanding (even threatening to sue) that their Zestimate be removed. They don’t care if the public info about the sales price is up there, but they want the Zestimate GONE. Zillow has responded to these people with a flat-out NO.

[CMcG]

cooprider–

I did go over there and look at the discussion forums. You’re right — people are bitching like hell because the new algorhythm (sp?) the site has apparently begun using in recent weeks has not only widely changed values (some are way up, some are way down) but because Z apparently changed all the the Zestimate histories. I have to admit I am perplexed about why they did that. My own house value went down $50K practically overnight. I don’t care, because I am not selling…probably never will in my lifetime.

What’s a bit worrisome, though, is that some people are reporting that there are lenders refusing to talk to some people trying, for example, to refi and those lenders are basing that JUST on the Zillow estimate. There are people on there demanding (even threatening to sue) that their Zestimate be removed. They don’t care if the public info about the sales price is up there, but they want the Zestimate GONE. Zillow has responded to these people with a flat-out NO.

[CMcG]

cooprider–

I did go over there and look at the discussion forums. You’re right — people are bitching like hell because the new algorhythm (sp?) the site has apparently begun using in recent weeks has not only widely changed values (some are way up, some are way down) but because Z apparently changed all the the Zestimate histories. I have to admit I am perplexed about why they did that. My own house value went down $50K practically overnight. I don’t care, because I am not selling…probably never will in my lifetime.

What’s a bit worrisome, though, is that some people are reporting that there are lenders refusing to talk to some people trying, for example, to refi and those lenders are basing that JUST on the Zillow estimate. There are people on there demanding (even threatening to sue) that their Zestimate be removed. They don’t care if the public info about the sales price is up there, but they want the Zestimate GONE. Zillow has responded to these people with a flat-out NO.

[cr]

Zillow has also become a place for home owners (money renters) to come and complain that the value of their home is too low.

Next time you’re on check out the discussions. There must be a thousand people on there who think their $500,000 2000 sq ft tract home is under valued because they just remodeled it (without permits) and put in SS appliances.

They are in for a treat once Zillow updates their formulas.

[cr]

Zillow has also become a place for home owners (money renters) to come and complain that the value of their home is too low.

Next time you’re on check out the discussions. There must be a thousand people on there who think their $500,000 2000 sq ft tract home is under valued because they just remodeled it (without permits) and put in SS appliances.

They are in for a treat once Zillow updates their formulas.

[cr]

Zillow has also become a place for home owners (money renters) to come and complain that the value of their home is too low.

Next time you’re on check out the discussions. There must be a thousand people on there who think their $500,000 2000 sq ft tract home is under valued because they just remodeled it (without permits) and put in SS appliances.

They are in for a treat once Zillow updates their formulas.

[cr]

Zillow has also become a place for home owners (money renters) to come and complain that the value of their home is too low.

Next time you’re on check out the discussions. There must be a thousand people on there who think their $500,000 2000 sq ft tract home is under valued because they just remodeled it (without permits) and put in SS appliances.

They are in for a treat once Zillow updates their formulas.

[Eugene]

I know a guy who bought a house for 590k in ’06. Throughout most of ’07, zillow was showing that his house was worth more than he paid for it.

In the last month, zillow estimate dropped from 580k to 500k, and the entire graph was revised (so it does not even say any more that the house was worth 580k recently).

To paint a broader picture: his next-door neighbor sold his house (30% more footage) for 585k; and a house very much like his across the street was just listed for 460k; and there are a couple of SFR listings in the zip code for high 300’s.

I wonder if he thinks that zillow is too low.

[kev374]

Zillow is nonsense. A friend’s condo in Vegas supposedly just went up in value 10% from last month’s update to this month when it is well known that the market is tanking there like no tommorow!

[jennyo]

Zillow is in denial over the house we sold last September in Antioch. Prior to the sale, Zillow had the POS hovering in the $380K range. We originally listed it at $279K and ended up accepting an offer for $215K. The house recorded and now Zillow shows it as “recently sold” with the $215K sale price, but still values it at $310K. Its absolutely ridiculous. The house was only worth what someone was willing to pay for it…

[jennyo]

Zillow is in denial over the house we sold last September in Antioch. Prior to the sale, Zillow had the POS hovering in the $380K range. We originally listed it at $279K and ended up accepting an offer for $215K. The house recorded and now Zillow shows it as “recently sold” with the $215K sale price, but still values it at $310K. Its absolutely ridiculous. The house was only worth what someone was willing to pay for it…

[jennyo]

Zillow is in denial over the house we sold last September in Antioch. Prior to the sale, Zillow had the POS hovering in the $380K range. We originally listed it at $279K and ended up accepting an offer for $215K. The house recorded and now Zillow shows it as “recently sold” with the $215K sale price, but still values it at $310K. Its absolutely ridiculous. The house was only worth what someone was willing to pay for it…

[jennyo]

Zillow is in denial over the house we sold last September in Antioch. Prior to the sale, Zillow had the POS hovering in the $380K range. We originally listed it at $279K and ended up accepting an offer for $215K. The house recorded and now Zillow shows it as “recently sold” with the $215K sale price, but still values it at $310K. Its absolutely ridiculous. The house was only worth what someone was willing to pay for it…

[jennyo]

Zillow is in denial over the house we sold last September in Antioch. Prior to the sale, Zillow had the POS hovering in the $380K range. We originally listed it at $279K and ended up accepting an offer for $215K. The house recorded and now Zillow shows it as “recently sold” with the $215K sale price, but still values it at $310K. Its absolutely ridiculous. The house was only worth what someone was willing to pay for it…

[kev374]

Zillow is nonsense. A friend’s condo in Vegas supposedly just went up in value 10% from last month’s update to this month when it is well known that the market is tanking there like no tommorow!

[kev374]

Zillow is nonsense. A friend’s condo in Vegas supposedly just went up in value 10% from last month’s update to this month when it is well known that the market is tanking there like no tommorow!

[kev374]

Zillow is nonsense. A friend’s condo in Vegas supposedly just went up in value 10% from last month’s update to this month when it is well known that the market is tanking there like no tommorow!

[kev374]

Zillow is nonsense. A friend’s condo in Vegas supposedly just went up in value 10% from last month’s update to this month when it is well known that the market is tanking there like no tommorow!

[Eugene]

I know a guy who bought a house for 590k in ’06. Throughout most of ’07, zillow was showing that his house was worth more than he paid for it.

In the last month, zillow estimate dropped from 580k to 500k, and the entire graph was revised (so it does not even say any more that the house was worth 580k recently).

To paint a broader picture: his next-door neighbor sold his house (30% more footage) for 585k; and a house very much like his across the street was just listed for 460k; and there are a couple of SFR listings in the zip code for high 300’s.

I wonder if he thinks that zillow is too low.

[Eugene]

I know a guy who bought a house for 590k in ’06. Throughout most of ’07, zillow was showing that his house was worth more than he paid for it.

In the last month, zillow estimate dropped from 580k to 500k, and the entire graph was revised (so it does not even say any more that the house was worth 580k recently).

To paint a broader picture: his next-door neighbor sold his house (30% more footage) for 585k; and a house very much like his across the street was just listed for 460k; and there are a couple of SFR listings in the zip code for high 300’s.

I wonder if he thinks that zillow is too low.

[Eugene]

I know a guy who bought a house for 590k in ’06. Throughout most of ’07, zillow was showing that his house was worth more than he paid for it.

In the last month, zillow estimate dropped from 580k to 500k, and the entire graph was revised (so it does not even say any more that the house was worth 580k recently).

To paint a broader picture: his next-door neighbor sold his house (30% more footage) for 585k; and a house very much like his across the street was just listed for 460k; and there are a couple of SFR listings in the zip code for high 300’s.

I wonder if he thinks that zillow is too low.

[Eugene]

I know a guy who bought a house for 590k in ’06. Throughout most of ’07, zillow was showing that his house was worth more than he paid for it.

In the last month, zillow estimate dropped from 580k to 500k, and the entire graph was revised (so it does not even say any more that the house was worth 580k recently).

To paint a broader picture: his next-door neighbor sold his house (30% more footage) for 585k; and a house very much like his across the street was just listed for 460k; and there are a couple of SFR listings in the zip code for high 300’s.

I wonder if he thinks that zillow is too low.

[Raybyrnes]

I am hard pressed to see the critcism vented about zillow. For a company that is jsut a couple of years old I think that it is a phenomenal tool when used for research purposes. Additoinally as the sight coninues to gather transactional data it will get better at forecasting actual data.

Complaining about zillow is like complaining about computers during their infancy. Anyone think that zillow won’t provide reliable estimates that will threaten the appraisal industry 10 years from now.

Additonally it is FREE. Some people have to have something to complain about.

[Ren]

I think peoples’ issue with it is that it’s not just inaccurate, it’s wildly inaccurate – not just due to limited data, but to incorrect calculations. Maybe someone else knows more about that, I’d like to learn how it values properties.

A friend of mine has a house in Vista with a zestimate of $1.3m (and climbing, according to zillow), and he’d be lucky to get $1m for it today.

I don’t think it will ever threaten appraisers – it doesn’t store enough data about individual homes, and has no way of finding that information out without human intervention.

[cr]

I find it useful for finding what a certain house was purcahsed for, and to a degree tracking trends, but the latter cannot have even rough numbers attached to it.

I think it’s a great tool, but it will never be as accurate as an appraisal. I just get tired of people complaining that their home price is too low.

“The house was only worth what someone was willing to pay for it…”

Exactly.

[cr]

I find it useful for finding what a certain house was purcahsed for, and to a degree tracking trends, but the latter cannot have even rough numbers attached to it.

I think it’s a great tool, but it will never be as accurate as an appraisal. I just get tired of people complaining that their home price is too low.

“The house was only worth what someone was willing to pay for it…”

Exactly.

[cr]

I find it useful for finding what a certain house was purcahsed for, and to a degree tracking trends, but the latter cannot have even rough numbers attached to it.

I think it’s a great tool, but it will never be as accurate as an appraisal. I just get tired of people complaining that their home price is too low.

“The house was only worth what someone was willing to pay for it…”

Exactly.

[cr]

I find it useful for finding what a certain house was purcahsed for, and to a degree tracking trends, but the latter cannot have even rough numbers attached to it.

I think it’s a great tool, but it will never be as accurate as an appraisal. I just get tired of people complaining that their home price is too low.

“The house was only worth what someone was willing to pay for it…”

Exactly.

[cr]

I find it useful for finding what a certain house was purcahsed for, and to a degree tracking trends, but the latter cannot have even rough numbers attached to it.

I think it’s a great tool, but it will never be as accurate as an appraisal. I just get tired of people complaining that their home price is too low.

“The house was only worth what someone was willing to pay for it…”

Exactly.

[Ren]

I think peoples’ issue with it is that it’s not just inaccurate, it’s wildly inaccurate – not just due to limited data, but to incorrect calculations. Maybe someone else knows more about that, I’d like to learn how it values properties.

A friend of mine has a house in Vista with a zestimate of $1.3m (and climbing, according to zillow), and he’d be lucky to get $1m for it today.

I don’t think it will ever threaten appraisers – it doesn’t store enough data about individual homes, and has no way of finding that information out without human intervention.

[Ren]

I think peoples’ issue with it is that it’s not just inaccurate, it’s wildly inaccurate – not just due to limited data, but to incorrect calculations. Maybe someone else knows more about that, I’d like to learn how it values properties.

A friend of mine has a house in Vista with a zestimate of $1.3m (and climbing, according to zillow), and he’d be lucky to get $1m for it today.

I don’t think it will ever threaten appraisers – it doesn’t store enough data about individual homes, and has no way of finding that information out without human intervention.

[Ren]

I think peoples’ issue with it is that it’s not just inaccurate, it’s wildly inaccurate – not just due to limited data, but to incorrect calculations. Maybe someone else knows more about that, I’d like to learn how it values properties.

A friend of mine has a house in Vista with a zestimate of $1.3m (and climbing, according to zillow), and he’d be lucky to get $1m for it today.

I don’t think it will ever threaten appraisers – it doesn’t store enough data about individual homes, and has no way of finding that information out without human intervention.

[Ren]

I think peoples’ issue with it is that it’s not just inaccurate, it’s wildly inaccurate – not just due to limited data, but to incorrect calculations. Maybe someone else knows more about that, I’d like to learn how it values properties.

A friend of mine has a house in Vista with a zestimate of $1.3m (and climbing, according to zillow), and he’d be lucky to get $1m for it today.

I don’t think it will ever threaten appraisers – it doesn’t store enough data about individual homes, and has no way of finding that information out without human intervention.

[Raybyrnes]

I am hard pressed to see the critcism vented about zillow. For a company that is jsut a couple of years old I think that it is a phenomenal tool when used for research purposes. Additoinally as the sight coninues to gather transactional data it will get better at forecasting actual data.

Complaining about zillow is like complaining about computers during their infancy. Anyone think that zillow won’t provide reliable estimates that will threaten the appraisal industry 10 years from now.

Additonally it is FREE. Some people have to have something to complain about.

[Raybyrnes]

I am hard pressed to see the critcism vented about zillow. For a company that is jsut a couple of years old I think that it is a phenomenal tool when used for research purposes. Additoinally as the sight coninues to gather transactional data it will get better at forecasting actual data.

Complaining about zillow is like complaining about computers during their infancy. Anyone think that zillow won’t provide reliable estimates that will threaten the appraisal industry 10 years from now.

Additonally it is FREE. Some people have to have something to complain about.

[Raybyrnes]

I am hard pressed to see the critcism vented about zillow. For a company that is jsut a couple of years old I think that it is a phenomenal tool when used for research purposes. Additoinally as the sight coninues to gather transactional data it will get better at forecasting actual data.

Complaining about zillow is like complaining about computers during their infancy. Anyone think that zillow won’t provide reliable estimates that will threaten the appraisal industry 10 years from now.

Additonally it is FREE. Some people have to have something to complain about.

[Raybyrnes]

I am hard pressed to see the critcism vented about zillow. For a company that is jsut a couple of years old I think that it is a phenomenal tool when used for research purposes. Additoinally as the sight coninues to gather transactional data it will get better at forecasting actual data.

Complaining about zillow is like complaining about computers during their infancy. Anyone think that zillow won’t provide reliable estimates that will threaten the appraisal industry 10 years from now.

Additonally it is FREE. Some people have to have something to complain about.

[Author]

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