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Home › Forums › Housing › Zillow vs. cyberhomes. WTH happened to Zillow?

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  • February 25, 2008 at 7:36 PM #11930
    CMcG
    Participant

    If you go to Zillow “discussions,” you’ll see a lot of comments like the one I am about to make. Zillow had my house down about $70,000 in just a few weeks. I know they have some new model, but apparently it isn’t working very well. Cyberhomes has my house UP almost $35K over last month. I go to these valuation sites almost purely for the entertainment value, since I will live here until they have to pry my cold, dead body off the kitchen marble floor, thoughtfully installed by the previous owner. Does anyone understand the new Zillow model? Do ANY of these sites have a better reputation? I know the value of my house is dropping, but my head is still well above water.

    February 25, 2008 at 8:19 PM #159888
    Bugs
    Participant

    I would anticipate that these computerized valuation models are going to be a little more wonky than average for a while. This is because the pricing trends are very volatile right now and they will continue to be unstable for the foreseeable future.

    These programs work better when the value trends are more uniform and when they have lots of data showing the same trends. That’s not what we’re looking at right now.

    As long as you don’t think of them outside of the entertainment value it’s all good. If you really need to get an idea of where you’re at, the realty agent who normally farms your neighborhood is probably your best bet.

    February 25, 2008 at 8:19 PM #160184
    Bugs
    Participant

    I would anticipate that these computerized valuation models are going to be a little more wonky than average for a while. This is because the pricing trends are very volatile right now and they will continue to be unstable for the foreseeable future.

    These programs work better when the value trends are more uniform and when they have lots of data showing the same trends. That’s not what we’re looking at right now.

    As long as you don’t think of them outside of the entertainment value it’s all good. If you really need to get an idea of where you’re at, the realty agent who normally farms your neighborhood is probably your best bet.

    February 25, 2008 at 8:19 PM #160199
    Bugs
    Participant

    I would anticipate that these computerized valuation models are going to be a little more wonky than average for a while. This is because the pricing trends are very volatile right now and they will continue to be unstable for the foreseeable future.

    These programs work better when the value trends are more uniform and when they have lots of data showing the same trends. That’s not what we’re looking at right now.

    As long as you don’t think of them outside of the entertainment value it’s all good. If you really need to get an idea of where you’re at, the realty agent who normally farms your neighborhood is probably your best bet.

    February 25, 2008 at 8:19 PM #160203
    Bugs
    Participant

    I would anticipate that these computerized valuation models are going to be a little more wonky than average for a while. This is because the pricing trends are very volatile right now and they will continue to be unstable for the foreseeable future.

    These programs work better when the value trends are more uniform and when they have lots of data showing the same trends. That’s not what we’re looking at right now.

    As long as you don’t think of them outside of the entertainment value it’s all good. If you really need to get an idea of where you’re at, the realty agent who normally farms your neighborhood is probably your best bet.

    February 25, 2008 at 8:19 PM #160280
    Bugs
    Participant

    I would anticipate that these computerized valuation models are going to be a little more wonky than average for a while. This is because the pricing trends are very volatile right now and they will continue to be unstable for the foreseeable future.

    These programs work better when the value trends are more uniform and when they have lots of data showing the same trends. That’s not what we’re looking at right now.

    As long as you don’t think of them outside of the entertainment value it’s all good. If you really need to get an idea of where you’re at, the realty agent who normally farms your neighborhood is probably your best bet.

    February 25, 2008 at 9:39 PM #159910
    CMcG
    Participant

    Thanks, Bugs. I think I understand why Zillow isn’t working in my neighborhood right now…it’s kind of upper middle class, cepting for me (who bought the “ugly sister” on the block) but no two houses are alike. And nothing is for sale. But there are people on Zillow screaming, “I live in a tract neighborhood…how can MY value be so much lower than the exact same house across the street?!” Plenty of people are threatening to sue Zillow, because potential buyers are showing up with the Zestimate printed out. Plenty are screaming that they want their property removed from Zillow, but Zillow reps always politely refuse.

    February 25, 2008 at 9:39 PM #160202
    CMcG
    Participant

    Thanks, Bugs. I think I understand why Zillow isn’t working in my neighborhood right now…it’s kind of upper middle class, cepting for me (who bought the “ugly sister” on the block) but no two houses are alike. And nothing is for sale. But there are people on Zillow screaming, “I live in a tract neighborhood…how can MY value be so much lower than the exact same house across the street?!” Plenty of people are threatening to sue Zillow, because potential buyers are showing up with the Zestimate printed out. Plenty are screaming that they want their property removed from Zillow, but Zillow reps always politely refuse.

    February 25, 2008 at 9:39 PM #160219
    CMcG
    Participant

    Thanks, Bugs. I think I understand why Zillow isn’t working in my neighborhood right now…it’s kind of upper middle class, cepting for me (who bought the “ugly sister” on the block) but no two houses are alike. And nothing is for sale. But there are people on Zillow screaming, “I live in a tract neighborhood…how can MY value be so much lower than the exact same house across the street?!” Plenty of people are threatening to sue Zillow, because potential buyers are showing up with the Zestimate printed out. Plenty are screaming that they want their property removed from Zillow, but Zillow reps always politely refuse.

    February 25, 2008 at 9:39 PM #160222
    CMcG
    Participant

    Thanks, Bugs. I think I understand why Zillow isn’t working in my neighborhood right now…it’s kind of upper middle class, cepting for me (who bought the “ugly sister” on the block) but no two houses are alike. And nothing is for sale. But there are people on Zillow screaming, “I live in a tract neighborhood…how can MY value be so much lower than the exact same house across the street?!” Plenty of people are threatening to sue Zillow, because potential buyers are showing up with the Zestimate printed out. Plenty are screaming that they want their property removed from Zillow, but Zillow reps always politely refuse.

    February 25, 2008 at 9:39 PM #160300
    CMcG
    Participant

    Thanks, Bugs. I think I understand why Zillow isn’t working in my neighborhood right now…it’s kind of upper middle class, cepting for me (who bought the “ugly sister” on the block) but no two houses are alike. And nothing is for sale. But there are people on Zillow screaming, “I live in a tract neighborhood…how can MY value be so much lower than the exact same house across the street?!” Plenty of people are threatening to sue Zillow, because potential buyers are showing up with the Zestimate printed out. Plenty are screaming that they want their property removed from Zillow, but Zillow reps always politely refuse.

    February 25, 2008 at 10:02 PM #159926
    The OC Scam
    Participant

    Zillow is actually starting to make more sense on their zestimates by putting together comps within the last 6 months instead of holding on to comps from 2006 and mid 2007 sales. They also use to compare homes the were completely different in size and lot. They still need to come down more in many areas but they are trying to play catch up.

    February 25, 2008 at 10:02 PM #160223
    The OC Scam
    Participant

    Zillow is actually starting to make more sense on their zestimates by putting together comps within the last 6 months instead of holding on to comps from 2006 and mid 2007 sales. They also use to compare homes the were completely different in size and lot. They still need to come down more in many areas but they are trying to play catch up.

    February 25, 2008 at 10:02 PM #160239
    The OC Scam
    Participant

    Zillow is actually starting to make more sense on their zestimates by putting together comps within the last 6 months instead of holding on to comps from 2006 and mid 2007 sales. They also use to compare homes the were completely different in size and lot. They still need to come down more in many areas but they are trying to play catch up.

    February 25, 2008 at 10:02 PM #160242
    The OC Scam
    Participant

    Zillow is actually starting to make more sense on their zestimates by putting together comps within the last 6 months instead of holding on to comps from 2006 and mid 2007 sales. They also use to compare homes the were completely different in size and lot. They still need to come down more in many areas but they are trying to play catch up.

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