Home values

[jimnyc]

Can any other homeowners or those in the know check out this site - http://www.zillow.com/

I am curious if there is any accuracy to their ranges. It has all the information about my house correct, but obviously unaware of any things that need repair, nor the improvements we have made. But otherwise the details are mostly accurate. It's the values that I am curious about, whether there is anything behind it whatsoever. Of course no one has to divulge any financial info, just whether you find it accurate based on your knowledge, and what it tells you about your home.

If this things is even remotely correct, it showed the value of my home bouncing up and down for the past 15 years, but slowly increasing the majority of the time. It shows a 3% growth in my area yearly. It also shows a value that most likely is MUCH higher than I would have guessed. Of course off the top of my head I can think of about $50-75k worth of things I would like to fix/improve, but there are also some that are done and not taken into account.

And if in the least bit accurate, would anyone like to buy a home in NY, just a short 20 miles from the Clinton's!!! :poke:

[Gunny]

Can any other homeowners or those in the know check out this site - http://www.zillow.com/

I am curious if there is any accuracy to their ranges. It has all the information about my house correct, but obviously unaware of any things that need repair, nor the improvements we have made. But otherwise the details are mostly accurate. It's the values that I am curious about, whether there is anything behind it whatsoever. Of course no one has to divulge any financial info, just whether you find it accurate based on your knowledge, and what it tells you about your home.

If this things is even remotely correct, it showed the value of my home bouncing up and down for the past 15 years, but slowly increasing the majority of the time. It shows a 3% growth in my area yearly. It also shows a value that most likely is MUCH higher than I would have guessed. Of course off the top of my head I can think of about $50-75k worth of things I would like to fix/improve, but there are also some that are done and not taken into account.

And if in the least bit accurate, would anyone like to buy a home in NY, just a short 20 miles from the Clinton's!!! :poke:

Zillow is supposedly a reputable site. Been in business for quite a few years.

[jimnyc]

Zillow is supposedly a reputable site. Been in business for quite a few years.

Hmmmm..... Wanna buy a house, much closer to Giants stadium? :laugh:

[Gunny]

Hmmmm..... Wanna buy a house, much closer to Giants stadium? :laugh:

Dude, I'm done with anything yankee. No offense, but I have a perfect record with yankee women. 0 for 4. Think I'll pass. :laugh:

[tailfins]

Zillow is good for monthly rental estimates. I don't know what to tell you about their purchase price estimates.

[Gunny]

Zillow is good for monthly rental estimates. I don't know what to tell you about their purchase price estimates.

Their estimates will be based on general knowledge. Jim actually needs to get a home inspector and an appraisal.

[fj1200]

Can any other homeowners or those in the know check out this site - http://www.zillow.com/

Zillow is great. They take disparate information about the real estate market and centralize it in one place. IIRC they had to win a lawsuit to be able to take data from the MLS listings and display it on their site. As far as their values I'm sure that they're doing their best to make them reflect prices as accurately as possible. But you're right, they can only be as accurate as what they know and have access too. The value for our house is probably low because they haven't updated how many bathrooms, etc. due to a renovation.

[jimnyc]

Their estimates will be based on general knowledge. Jim actually needs to get a home inspector and an appraisal.

Oh, no doubt, plus we wouldn't be selling anytime soon. I just was curious if the numbers I was seeing were inflated or semi-accurate.


Zillow is great. They take disparate information about the real estate market and centralize it in one place. IIRC they had to win a lawsuit to be able to take data from the MLS listings and display it on their site. As far as their values I'm sure that they're doing their best to make them reflect prices as accurately as possible. But you're right, they can only be as accurate as what they know and have access too. The value for our house is probably low because they haven't updated how many bathrooms, etc. due to a renovation.

The house is actually on there for about 3x what we paid for it. Granted, when the mortgage is up, the price we paid will have been more, based on taxes and other crap. But hell, if we could even just double our money - I say sell now and get out of dodge!

[Abbey Marie]

Zillow is great. They take disparate information about the real estate market and centralize it in one place. IIRC they had to win a lawsuit to be able to take data from the MLS listings and display it on their site. As far as their values I'm sure that they're doing their best to make them reflect prices as accurately as possible. But you're right, they can only be as accurate as what they know and have access too. The value for our house is probably low because they haven't updated how many bathrooms, etc. due to a renovation.

I believe you can edit your own information on the Zillow site.

[jimnyc]

I believe you can edit your own information on the Zillow site.

Yep, you can, but I was afraid they would want too much personal info in order to do so.

[fj1200]

Oh, no doubt, plus we wouldn't be selling anytime soon. I just was curious if the numbers I was seeing were inflated or semi-accurate.

Accurate enough probably. Does 3x the purchase price meet the smell test?


I believe you can edit your own information on the Zillow site.

Yes, but I have no need to. They'll get it from the county once I tell the county what they want to know for tax purposes. :eek:


Yep, you can, but I was afraid they would want too much personal info in order to do so.

I "listed" our old house on Zillow and I don't recall any onerous verification requests. They just need to be sure it's your house.