Comments on: My Favorite Real Estate Tool: Zillow.com http://beancounterblog.com/2006/06/30/my-favorite-real-estate-tool-zillowcom/ Thu, 06 May 2010 19:28:41 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Randall Wilson http://beancounterblog.com/2006/06/30/my-favorite-real-estate-tool-zillowcom/comment-page-1/#comment-10226 Randall Wilson Tue, 19 Sep 2006 04:06:46 +0000 http://beancounterblog.com/2006/06/30/my-favorite-real-estate-tool-zillowcom/#comment-10226 Zillow has a great service concept, but they are still lacking in correct information. Homes in my current area show a below market prices and most other areas that I evaluate with their services seem off of the mark. Their accuracy is getting better, but for the time being the comparables are still off too much to be relied on. RW 4MySales.com Zillow has a great service concept, but they are still lacking in correct information. Homes in my current area show a below market prices and most other areas that I evaluate with their services seem off of the mark. Their accuracy is getting better, but for the time being the comparables are still off too much to be relied on.

RW
4MySales.com

]]> By: Jason Guthrie http://beancounterblog.com/2006/06/30/my-favorite-real-estate-tool-zillowcom/comment-page-1/#comment-5673 Jason Guthrie Sat, 01 Jul 2006 05:01:00 +0000 http://beancounterblog.com/2006/06/30/my-favorite-real-estate-tool-zillowcom/#comment-5673 I completely agree with both of you. Zillow is not the only place anyone should look for a home valuation - but I do think it's a great place to start. If anything you can see general trends and get a ballpark of an idea. I completely agree with both of you. Zillow is not the only place anyone should look for a home valuation – but I do think it’s a great place to start. If anything you can see general trends and get a ballpark of an idea.

]]> By: Ron http://beancounterblog.com/2006/06/30/my-favorite-real-estate-tool-zillowcom/comment-page-1/#comment-5666 Ron Sat, 01 Jul 2006 01:33:16 +0000 http://beancounterblog.com/2006/06/30/my-favorite-real-estate-tool-zillowcom/#comment-5666 I have commented in the past that Zillow is a great tool for real estate 'voyeurs'. I love the Web 2.0 features and the snazzy interface. As for the accuracy, the more homogeneous the neighborhood, the closer to target the Zestimates seem to be. However, as someone close to the Portland, Oregon market (disclosure: I am a real estate broker), I caution homeowners that Zillow relies heavily on tax records for its comparative values, which might not take into effect a recent remodel, adding significant square footage to the home, nor does it provide the subjective value of home condition. On occasion, the algorithm that allows a homeowner to adjust the model to incorporate an additional bedroom or square feet, has actually <em>decreased</em> the home value. I'm sure the statistical models will improve over time. Zillow is s a nice starting point, but a homeowner looking to establish a grounded home value should consider a formal appraisal, or at the least, a comparative market analysis by a knowledgeable real estate broker. I have commented in the past that Zillow is a great tool for real estate ‘voyeurs’. I love the Web 2.0 features and the snazzy interface. As for the accuracy, the more homogeneous the neighborhood, the closer to target the Zestimates seem to be.

However, as someone close to the Portland, Oregon market (disclosure: I am a real estate broker), I caution homeowners that Zillow relies heavily on tax records for its comparative values, which might not take into effect a recent remodel, adding significant square footage to the home, nor does it provide the subjective value of home condition. On occasion, the algorithm that allows a homeowner to adjust the model to incorporate an additional bedroom or square feet, has actually decreased the home value. I’m sure the statistical models will improve over time.

Zillow is s a nice starting point, but a homeowner looking to establish a grounded home value should consider a formal appraisal, or at the least, a comparative market analysis by a knowledgeable real estate broker.

]]> By: LAMoneyGuy http://beancounterblog.com/2006/06/30/my-favorite-real-estate-tool-zillowcom/comment-page-1/#comment-5652 LAMoneyGuy Fri, 30 Jun 2006 20:01:18 +0000 http://beancounterblog.com/2006/06/30/my-favorite-real-estate-tool-zillowcom/#comment-5652 I'm also a fan of zillow, but take their results with a grain of salt. Whenever I am looking at properties for sale, I will take a look at zillow to see their zestimate, the comps and the sales data. Some properties list above the zestimate, so it is logical that they don't sell. They're overpriced. Many properties are listed below their zestimate. There is a house in my neighborhood that has been on the market for at least four months, listed below zestimate, yet there it sits. If the zestimate were true market value, surely someone would have made a reasonable offer. I’m also a fan of zillow, but take their results with a grain of salt. Whenever I am looking at properties for sale, I will take a look at zillow to see their zestimate, the comps and the sales data. Some properties list above the zestimate, so it is logical that they don’t sell. They’re overpriced. Many properties are listed below their zestimate. There is a house in my neighborhood that has been on the market for at least four months, listed below zestimate, yet there it sits. If the zestimate were true market value, surely someone would have made a reasonable offer.

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