Zillow Observation

[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.

[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.

[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.

[Author]

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