Zillow website?

Question

It happens too often that their website is down. What's going on and what do u think about their estimate for house pricing?

www.zillow.com

Answer 1

Zillow, in my opinion, is almost always WAAAAY off on their estimates. First of all, they're using old data to calculate their estimates. Second, they aren't expert in local market fluctuations. Third, they have absolutely no way of figuring in property condition into their valuations. That is, they have no way to tell if the place is beautiful or a dump inside.

The best opinions of price are done by active and successful real estate agents (not even appraisers or tax assessors). This is because agents are the ones on the front lines, knowing exactly what's going on in the market on a daily basis... good agents, that is. Like anything else, there are a lot of bad ones, too.

Answer 2

It seems to be down between like 11pm and 4am, PST. You might try during other hours. I think their estimate for house pricing is necessarily about 3-4 months behind because it is based on sales prices, which lag behind offers. Offers are based on current conditions. As an example, Zillow said the house we bought 10 months ago was worth $315,000. We paid $285,000, but it didn't log with Zillow until 3 months later, when escrow closed. Now it says the house is worth $260,000. It's probably pretty close, but it can get thrown off by short sales and foreclosures.

Answer 3

Hi! As a Realtor they are not realiable. They go by tax records and not the condition of a house. I had a house listed as a tear down for 400K and they listed it at 599.00 The house next door was worth 699.00 because it was totally remodeled, this house had had not one upgrade in 40 years. So don't rely on their information and use it as amusement more than anything. Looks are deceiving, go see the house up close and personal before relying on Zillow. Marie

Answer 4

Zillow is about as reliable as guessing on your own. Just for the heck of it, l looked up my own residence. Current market value is over $300K (I am a realtor, so I know the correct values). Zillow had it around the $175K range, which is assessed value from nearly two decades ago.

Answer 5

I wouldn't rely on anything but what a reputable licensed RE professional or an appraiser tells you your home is valued at. I actually put properties that I list on there but only to get more exposure to them and to direct traffic to my website. They are way off too often when it comes to information other than price. I've seen them list a 3BR/2BA home as 3BR/2.5BA and have the SQ FT completely off as well. If you need your home's value, have a RE agent run a CMA for you and get an appraisal done.

Answer 6

not to sure about them,your right I'm having problems with adding properties and my profile, finally got a 800 # so I can actually talk with someone