Housing Price Estimator Website ??

[DisneyBeagle]

Does anyone know where Zillow.com gets their housing prices from? My neighbor is thinking about selling his house because of the prices listed on this website, but I think that the price that zillow shows is WAY more than they house is worth.

 

[DebMcDonald]

When we sold we sold for the low end of the price range that zillow had for our house. It would NEVER have sold for the upper end.

 

[DisneyBeagle]

When we sold we sold for the low end of the price range that zillow had for our house. It would NEVER have sold for the upper end.

I definitely think that my house would be in the lower end of the range too, but I was wondering how they come up with these values.

 

[Todd&Copper]

For my street, zillow underestimates home values to an alarming degree. Over $100K less than what some of them can resonably sell for in some cases.

 

[Am_I_There_Yet]

Whatever you tell them, tell them not to base asking price off of Zillow. I'm sure a local realtor would be more than happy to do a market analysis for them.

That will be a much better indicator of the market, especially considering the fact that active comps need to be weighed as well, in a declining market.

Zillow has my house $50k below market value, because it's using a foreclosure a block away from me, that was distressed. I hate that website.

 

[disneyfanx3]

I think Zillow is a little behind on the actual market rates - I usually use our county property appraisers website to see what houses have sold for - If you know the address of a house that recently sold you can look it up there - some counites make this info a little easier to get to

 

[disneylvrnMS]

I just bought my house 3 months ago. Zillow has the price of my house $100,00 0 less than what it appraised for when I bought it.

 

[Am_I_There_Yet]

I think Zillow is a little behind on the actual market rates - I usually use our county property appraisers website to see what houses have sold for - If you know the address of a house that recently sold you can look it up there - some counites make this info a little easier to get to

If you don't have access to the MLS, this is a MUCH better way than Zillow.

 

[barkley]

zillow also is'nt great for being accurate on the actual sales prices of homes (when you look at the comp recent sales or in the history for an individual home sale). my former home is shown has haveing sold for $117,000 less than we sold it for and the tax information is totaly inaccurate both for what occured when we owned and what is the situation with the current owner.

 

[disalways]

We just listed out house last week, and we listing $100,000 under the Zillow price. We shall see how it goes.

 

[Melrosgirl]

Don't use zillow. They have the two house on my street at nearly $100,000 apart in value, LOL. Same exact floorplan. SAme exact street. Same age. Lots are a little different (we're talking less than .10 of an acre in difference.) Not worth $100,000 more. It's very inaccurate.

 

[shelly3girls]

For my street, zillow underestimates home values to an alarming degree. Over $100K less than what some of them can resonably sell for in some cases.

Ours too, and their records are out of date. In 2004 we increased the size of our home by over 30% adding rooms and bathrooms. Zillow still lists our house as 0 bedrooms, 0 baths. The value just shows what we paid minus how much it estimates the housing market has dropped. I realize we will not get back what we put into it for many years but even the current conservative bank appraisal came it at 200k more than Zillow. I would not trust their value on either the high or low end.

 

[elgerber]

Zillow shows my house being over 700 square feet smaller than it is. And we haven't added anything on, that is the size it was when we built it.

 

[DebMcDonald]

Zillow shows my house being over 700 square feet smaller than it is. And we haven't added anything on, that is the size it was when we built it.

You can go into Zillow and claim the house as your own and make the appropriate changes to your house and it will adjust your appraisal.

 

[elgerber]

You can go into Zillow and claim the house as your own and make the appropriate changes to your house and it will adjust your appraisal.

I don't really care what it says for a value. I'm in the mortgage industry and have more concrete ways to get a value, but I thought it was funny that it was missing over 700 square feet.

 

[Kathi OD]

Zillow is only as accurate as the information it has, which is often based off county/city info. If you've checked your own home and know there are problems with the information, you should claim it and make the appropriate changes. I know that the info it has for both our properties is correct, but if it wasn't I'd make the changes.

As for home values, I don't think that they are very accurate. Our primary home's value has gone up and down over $50K four times in less than 10 days. Also, we own one of the smallest houses in our neighbhorhood, yet it is valued much more than some of the other houses.

 

[DawnM]

Our house is missing 600 sq. ft. on Zillow. We are also adding/finishing our 950 sq. ft. basement, so it will then be missing 1,500 sq. ft.

Our neighbor's house on Zillow is listed at $417,000 but it is on the market for $550,000. Our house is about $100,000 less than what I think would be the low end of what we could get right now.

Dawn

 

[Am_I_There_Yet]

I don't really care what it says for a value. I'm in the mortgage industry and have more concrete ways to get a value, but I thought it was funny that it was missing over 700 square feet.

I didn't care either until Countrywide used the website while I was on the phone, to tell me what they estimated my house to be worth.

I sell real estate and I about came unglued, because I know what my house is worth and I know what other homes have sold for. That website stinks.

 

[shelly3girls]

How does Zillow even calculate the home values? It has the smallest house on the smallest land parcel on our street priced 100k more than most houses. My house which is close to the average size house is twice its' size with twice as much land and theirs is 50k more (conservative resale difference is 250k). All of the houses on our street do not have bedrooms or baths listed.

Even funnier is that we have a mega-mansion around the corner from us on several acres of land and even that is listed below our house.

And trust me, the tax assessor knows my house is worth twice theirs!

 

[DMickey28]

I have no idea how this website does it's stuff. My parents house is listed before the renovation they did on it back in 1993!! It's still listed as a 2bed 1.5ba where now it's a 4bed 3.5bath ...