Re: Housing prices in Nov. 2007 and Zillow "Zestimate"
- From: Brian Attwood <bcattwood@xxxxxxxxx>
- Date: Wed, 21 Nov 2007 07:41:48 -0800 (PST)
On Nov 20, 8:00 am, eganders <egand...@xxxxxxxxx> wrote:
I am looking at Zillow on line and it looks like I will have to do my
own tracking to find the actual value of a house. I am in the
Southeastern Michigan area. Have you looked at the "zestimate" versus
the recent sales price? What the heck good is the zestimate, anyway?
I am finding that it is more "the hoped for value" of a house. In my
area the zestimate is at least $100,000 more than the recent sales
price of houses. Take a look at housing prices around the area you
are interested. Check out the Zillow zestimate and what recent houses
have sold for. Do you see the same thing?
Now I think you have to price it obviously below the average to even
get a bite since there are so many sellers out there to a lesser
number of buyers and there are so many houses on the market.
The only thing Zillow is useful for is providing a nice interface for
seeing recent sales prices in your area. The last time I looked the
zestimate for my house was pitifully low but then it was using comps
from neighborhoods that were not comparable at all.
.
- References:
- Housing prices in Nov. 2007 and Zillow "Zestimate"
- From: eganders
- Housing prices in Nov. 2007 and Zillow "Zestimate"
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