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

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  • February 25, 2008 at 10:02 PM #160320
    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 10:53 PM #159987
    kev374
    Participant

    zillow is rubbish. A friends place in Aliso Viejo was $475k last month and this month it is $515k. Are we to believe his property has appreciated when it is known fact that Aliso Viejo is one of the fastest depreciating neighborhoods in South OC.

    February 25, 2008 at 10:53 PM #160283
    kev374
    Participant

    zillow is rubbish. A friends place in Aliso Viejo was $475k last month and this month it is $515k. Are we to believe his property has appreciated when it is known fact that Aliso Viejo is one of the fastest depreciating neighborhoods in South OC.

    February 25, 2008 at 10:53 PM #160299
    kev374
    Participant

    zillow is rubbish. A friends place in Aliso Viejo was $475k last month and this month it is $515k. Are we to believe his property has appreciated when it is known fact that Aliso Viejo is one of the fastest depreciating neighborhoods in South OC.

    February 25, 2008 at 10:53 PM #160302
    kev374
    Participant

    zillow is rubbish. A friends place in Aliso Viejo was $475k last month and this month it is $515k. Are we to believe his property has appreciated when it is known fact that Aliso Viejo is one of the fastest depreciating neighborhoods in South OC.

    February 25, 2008 at 10:53 PM #160380
    kev374
    Participant

    zillow is rubbish. A friends place in Aliso Viejo was $475k last month and this month it is $515k. Are we to believe his property has appreciated when it is known fact that Aliso Viejo is one of the fastest depreciating neighborhoods in South OC.

    February 25, 2008 at 11:17 PM #159992
    Daniel
    Participant

    I have to say that I’ve noticed some very odd moves on Zillow as well. In my neighborhood, one house “went down” by $45K over the last 30 days, while an identical house a couple of blocks away “went up” by $45K. One is now valued at $800K, while the other is valued at over $1M. The funny thing is, I know both houses, and the cheaper one is the better one (better location, upgrades, etc). It seems that the grain of salt for Zillow estimates grows larger by the day.

    February 25, 2008 at 11:17 PM #160288
    Daniel
    Participant

    I have to say that I’ve noticed some very odd moves on Zillow as well. In my neighborhood, one house “went down” by $45K over the last 30 days, while an identical house a couple of blocks away “went up” by $45K. One is now valued at $800K, while the other is valued at over $1M. The funny thing is, I know both houses, and the cheaper one is the better one (better location, upgrades, etc). It seems that the grain of salt for Zillow estimates grows larger by the day.

    February 25, 2008 at 11:17 PM #160304
    Daniel
    Participant

    I have to say that I’ve noticed some very odd moves on Zillow as well. In my neighborhood, one house “went down” by $45K over the last 30 days, while an identical house a couple of blocks away “went up” by $45K. One is now valued at $800K, while the other is valued at over $1M. The funny thing is, I know both houses, and the cheaper one is the better one (better location, upgrades, etc). It seems that the grain of salt for Zillow estimates grows larger by the day.

    February 25, 2008 at 11:17 PM #160307
    Daniel
    Participant

    I have to say that I’ve noticed some very odd moves on Zillow as well. In my neighborhood, one house “went down” by $45K over the last 30 days, while an identical house a couple of blocks away “went up” by $45K. One is now valued at $800K, while the other is valued at over $1M. The funny thing is, I know both houses, and the cheaper one is the better one (better location, upgrades, etc). It seems that the grain of salt for Zillow estimates grows larger by the day.

    February 25, 2008 at 11:17 PM #160385
    Daniel
    Participant

    I have to say that I’ve noticed some very odd moves on Zillow as well. In my neighborhood, one house “went down” by $45K over the last 30 days, while an identical house a couple of blocks away “went up” by $45K. One is now valued at $800K, while the other is valued at over $1M. The funny thing is, I know both houses, and the cheaper one is the better one (better location, upgrades, etc). It seems that the grain of salt for Zillow estimates grows larger by the day.

    February 25, 2008 at 11:39 PM #159997
    Daniel
    Participant

    To follow up on my previous post: I’m fairly certain that they made some recent changes to their algorithm. I bet that what they’re doing now is that the price of a house is influenced more by the prices of nearby houses (say, within a 200 yards radius, for example). The $800K house in my example happens to sit at the edge of the subdivision, with cheaper townhomes on the other side. The identical (actually, sligthly worse) $1M house sits at the other end, a bit closer to more expensive houses. While it makes some sense to consider the prices of nearby houses, it seems that they’re now giving this factor way too much weight in their formula.

    February 25, 2008 at 11:39 PM #160293
    Daniel
    Participant

    To follow up on my previous post: I’m fairly certain that they made some recent changes to their algorithm. I bet that what they’re doing now is that the price of a house is influenced more by the prices of nearby houses (say, within a 200 yards radius, for example). The $800K house in my example happens to sit at the edge of the subdivision, with cheaper townhomes on the other side. The identical (actually, sligthly worse) $1M house sits at the other end, a bit closer to more expensive houses. While it makes some sense to consider the prices of nearby houses, it seems that they’re now giving this factor way too much weight in their formula.

    February 25, 2008 at 11:39 PM #160309
    Daniel
    Participant

    To follow up on my previous post: I’m fairly certain that they made some recent changes to their algorithm. I bet that what they’re doing now is that the price of a house is influenced more by the prices of nearby houses (say, within a 200 yards radius, for example). The $800K house in my example happens to sit at the edge of the subdivision, with cheaper townhomes on the other side. The identical (actually, sligthly worse) $1M house sits at the other end, a bit closer to more expensive houses. While it makes some sense to consider the prices of nearby houses, it seems that they’re now giving this factor way too much weight in their formula.

    February 25, 2008 at 11:39 PM #160312
    Daniel
    Participant

    To follow up on my previous post: I’m fairly certain that they made some recent changes to their algorithm. I bet that what they’re doing now is that the price of a house is influenced more by the prices of nearby houses (say, within a 200 yards radius, for example). The $800K house in my example happens to sit at the edge of the subdivision, with cheaper townhomes on the other side. The identical (actually, sligthly worse) $1M house sits at the other end, a bit closer to more expensive houses. While it makes some sense to consider the prices of nearby houses, it seems that they’re now giving this factor way too much weight in their formula.

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