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CheSaraSara
LIF Infant
Member since 9/11 269 total posts
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Zillow...& sites like it
How accurate are the estimates on zillow & other sites that give a home's value? Way off? Almost on target? Varies?
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Posted 5/16/12 3:00 PM  |
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TheLucille2
Yayicanpickmyowntitle!
Member since 6/11 1058 total posts
Name:
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Re: Zillow...& sites like it
I am no real estate expert, but my hubby and I have sold 2 properties in the past 6 months and have been in the market for our forever home for over a year.
All I can say is that it really varies and I would never rely on zillow or a site like it for home values. Your best resource is doing your own research! 
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| Posted 5/16/12 3:12 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Zillow...& sites like it
as a real estate professional- who advertises on both sites
they are so far from accurate it's funny
they also have houses listed for sale that have never been on the market
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| Posted 5/16/12 3:50 PM |
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SecretTTCer
LIF Adult
Member since 6/08 2284 total posts
Name:
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Re: Zillow...& sites like it
They are very inaccurate! They factor in foreclosures which often leads to underestimates of the house's real value. I actually think these sites are killing a lot of deals.
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| Posted 5/16/12 8:21 PM |
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Re: Zillow...& sites like it
Posted by SecretTTCer
They are very inaccurate! They factor in foreclosures which often leads to underestimates of the house's real value. I actually think these sites are killing a lot of deals.
I agree that Zillow is not an accurate source of info when it comes to home value estimates.
But it's NOT because they factor in foreclosures. Bank appraisers need to factor in short sales and foreclosures now that they've become such a big part of the market. So anyone selling a home should be aware that bank appraisers don't ignore these distressed sales, even if they do bring down home values. That's just the market!
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| Posted 5/16/12 8:47 PM |
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MrsS1976
LIF Adolescent
Member since 5/11 534 total posts
Name:
M
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Re: Zillow...& sites like it
The only accurate thing about Zillow is when they post the sales history of a home. I checked my parents neighbors house and they list it at a really high value but it showed the accurate price for what the house sold for in 2008.
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| Posted 5/16/12 8:49 PM |
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