- This topic has 125 replies, 14 voices, and was last updated 16 years, 5 months ago by
NotCranky.
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April 24, 2008 at 4:52 PM #194047April 24, 2008 at 5:01 PM #193942
(former)FormerSanDiegan
ParticipantAll I know is that Zillow estimates can be way off.
For example, I have a rental that Zillow values at about 525K. The house next door, same size, same vintage, but in better condition is listed for under 400K and has been on and off the market for over 6 months. In that case, Zillow overstates the value by at least 30%.
The funny thing is that up until January or so, it had my property value somewhere right around 400K. Then, they implemented a “new more accurate method” that completely gets my place wrong.
April 24, 2008 at 5:01 PM #193974ParticipantAll I know is that Zillow estimates can be way off.
For example, I have a rental that Zillow values at about 525K. The house next door, same size, same vintage, but in better condition is listed for under 400K and has been on and off the market for over 6 months. In that case, Zillow overstates the value by at least 30%.
The funny thing is that up until January or so, it had my property value somewhere right around 400K. Then, they implemented a “new more accurate method” that completely gets my place wrong.
April 24, 2008 at 5:01 PM #194001ParticipantAll I know is that Zillow estimates can be way off.
For example, I have a rental that Zillow values at about 525K. The house next door, same size, same vintage, but in better condition is listed for under 400K and has been on and off the market for over 6 months. In that case, Zillow overstates the value by at least 30%.
The funny thing is that up until January or so, it had my property value somewhere right around 400K. Then, they implemented a “new more accurate method” that completely gets my place wrong.
April 24, 2008 at 5:01 PM #194015ParticipantAll I know is that Zillow estimates can be way off.
For example, I have a rental that Zillow values at about 525K. The house next door, same size, same vintage, but in better condition is listed for under 400K and has been on and off the market for over 6 months. In that case, Zillow overstates the value by at least 30%.
The funny thing is that up until January or so, it had my property value somewhere right around 400K. Then, they implemented a “new more accurate method” that completely gets my place wrong.
April 24, 2008 at 5:01 PM #194057ParticipantAll I know is that Zillow estimates can be way off.
For example, I have a rental that Zillow values at about 525K. The house next door, same size, same vintage, but in better condition is listed for under 400K and has been on and off the market for over 6 months. In that case, Zillow overstates the value by at least 30%.
The funny thing is that up until January or so, it had my property value somewhere right around 400K. Then, they implemented a “new more accurate method” that completely gets my place wrong.
April 24, 2008 at 5:03 PM #193948capeman
ParticipantOC – I don’t know how they’re model works but you can download historical data for a house then download the same history 6 months to a year later and the entire historical has changed. Either they are constantly shifting their models, which if they are they should be explaining that to remain credible, or the process is being automated and filled based on what could be fraudulent data that is being published. Either way without explaining what is going on there is absolutely no credibility to their service.
April 24, 2008 at 5:03 PM #193979ParticipantOC – I don’t know how they’re model works but you can download historical data for a house then download the same history 6 months to a year later and the entire historical has changed. Either they are constantly shifting their models, which if they are they should be explaining that to remain credible, or the process is being automated and filled based on what could be fraudulent data that is being published. Either way without explaining what is going on there is absolutely no credibility to their service.
April 24, 2008 at 5:03 PM #194006ParticipantOC – I don’t know how they’re model works but you can download historical data for a house then download the same history 6 months to a year later and the entire historical has changed. Either they are constantly shifting their models, which if they are they should be explaining that to remain credible, or the process is being automated and filled based on what could be fraudulent data that is being published. Either way without explaining what is going on there is absolutely no credibility to their service.
April 24, 2008 at 5:03 PM #194020ParticipantOC – I don’t know how they’re model works but you can download historical data for a house then download the same history 6 months to a year later and the entire historical has changed. Either they are constantly shifting their models, which if they are they should be explaining that to remain credible, or the process is being automated and filled based on what could be fraudulent data that is being published. Either way without explaining what is going on there is absolutely no credibility to their service.
April 24, 2008 at 5:03 PM #194063ParticipantOC – I don’t know how they’re model works but you can download historical data for a house then download the same history 6 months to a year later and the entire historical has changed. Either they are constantly shifting their models, which if they are they should be explaining that to remain credible, or the process is being automated and filled based on what could be fraudulent data that is being published. Either way without explaining what is going on there is absolutely no credibility to their service.
April 24, 2008 at 5:19 PM #193965PadreBrian
ParticipantWhat I can tell is that it fluctuates because it uses BOTH the “for sale price” and the closed/sold price of houses in the same zip. It’s automated so it can very week to week. But like others better than I has stated, your house is worth what somebody is willing to pay for it….NOT what you think it’s worth.
April 24, 2008 at 5:19 PM #193993ParticipantWhat I can tell is that it fluctuates because it uses BOTH the “for sale price” and the closed/sold price of houses in the same zip. It’s automated so it can very week to week. But like others better than I has stated, your house is worth what somebody is willing to pay for it….NOT what you think it’s worth.
April 24, 2008 at 5:19 PM #194019ParticipantWhat I can tell is that it fluctuates because it uses BOTH the “for sale price” and the closed/sold price of houses in the same zip. It’s automated so it can very week to week. But like others better than I has stated, your house is worth what somebody is willing to pay for it….NOT what you think it’s worth.
April 24, 2008 at 5:19 PM #194035ParticipantWhat I can tell is that it fluctuates because it uses BOTH the “for sale price” and the closed/sold price of houses in the same zip. It’s automated so it can very week to week. But like others better than I has stated, your house is worth what somebody is willing to pay for it….NOT what you think it’s worth.
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