have you been on zillow.com?

Question

its a site where you enter in an address and it shows you how much that house valuse at and the ones arouund that area. but how aqurit is it? are the values of the homes real? or made up? if you know your real estate, please tell me how much do homes go for in the area of 43rd ave and Loop 101...phoenix, az

Answer 1

Zillow is worthless. Based on tax records and not actual value of properties.

Answer 2

yes they are real. its based on sales that have OCCURED.

the prices aren't made up.

say for example you look up your area.

you see the house next door to you has been sold recently for such and such..then the house on the other side of you the same such and such.

it doesn't put a price on YOUR HOME IF ITS NEVER BEEN SOLD. it will give a estimate but not a price. the estimate comes from the surronding homes with similar (what i call) stats.

its a good site in my opinion. it will give you many different stats and tells you when the homes were sold (a history of the sales-if any have occured)

good place to start to get info . but use it wisely if you are buying a home-because home sellers use it as well and often up the prices comparing two homes that are totally different and then thus saying-okay my home was made as the same year as these two homes, those homes went for 1 mill..so hey that must mean mine is 1 mill..so i'llchare that much

but they'll not go check out those homes to see if they ACTUALLY ARE COMPAREABLE.

i bought my home using that site and i got the seller to come down almost 100 grand because they compared 10 DISIMILAR HOMES and tried to get those prices for it.

notice how the only once crying about zillow are relatiors?

PROVES MY POINT EXACTLY IT'S DOING THEIR JOB FOR THEM. ITS CALLED BEING BITTER

Answer 3

Zillow sucks it show Sales and that's it just look at the % of value vs. other homes if you are in the top 5% then ask you re self is MY house one of the top 5 % in the neighborhood. If you are knock off 5% and it will be close. Keep in mind that the properties have to be comparable in size, style, bedrooms, baths, emmieties, lot size, location on the street, and also are there any adverse exterior conditions to effect the value.ie busy street or backs into a school. all of these are not taken in too consideration with zillow i would just ask an appraiser.

Answer 4

The info on zillow, and similar sites comes from loan/tax databases. It is only as accurate as the info it is using. For example, I paid cash for my house. zillow has no current info because I did not take out a loan, so it is using the loan from the previous owner. My neighbor put down 50% and financed the other 50%. zillow shows her value as the exact amount of her loan. zillow does not send appraisers out. The markets are changing rapidly in some areas. I would not trust the info on zillow to price a home for sale or in place of an appraisal.

Answer 5

generally speaking zillow is not as accurate as you would think. i am in the mortgage business nationwide and from time to time i have gone to zillow to see if the prices were close and often i find them not to be.
if you are thinking of selling your home the best thing to do is ask a local realtor for a free market analysis they are all usually willing to do it. while they are there, listen to what they are telling you it may actually be good information.
if you are thinking of buying check out realtor.com they have a huge amount of currently active listing for sale in almost every area and you will get a good sense of the market.
good luck

Answer 6

I put in mine once.. it was fairly acurate when I compared to what others in my area were selling for..

You can check out what home in your area are selling for by going to www.realtor.com.. it's a lisitng of actual homes for sale..