just curious if anyone has looked up their home on zillow.com and then gotten an appraisal and how far off the two were.
2007-11-01 01:35:50 · 6 answers · asked by bcky_huber 2 in Business & Finance ➔ Renting & Real Estate
Thanks for all the info :) We're getting ready to get our house appraised for a refi and we looked at zillow this morning and my husband said theres absolutely no way that the price there could be right.
2007-11-01 04:28:32 · update #1
BTW I did not give thumbs down to any of you, every post so far has been great. Have no idea who has done that.
2007-11-01 04:40:52 · update #2
It is never right and I have seen it off as much as 300%. Generally it is closer to 30% off, usually too high, but I have seen it both ways.
2007-11-01 03:43:48 · answer #1 · answered by Landlord 7 · 2⤊ 1⤋
It's terrible, from my personal experience. I sold some properties in TX a little while ago and the valuation estimate prior to the sale was nearly $30k too low. About 3 weeks after the sale it was now $25k too high even though they did have the correct sales price listed for the property. I've also cross-checked several other properties that I know to have sold at arms-length agreed prices and Zillow's valuations were off by as much as 40% both high and low. In my opinion, it's little more than a random guess. Do NOT depend upon what you find on Zillow for ANY financial decisions.
2007-11-01 09:00:44 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 2⤋
My experience with Zillow is similar to that of the other posters. Just recently, (as a realtor) I did some comparisons on sales listed in my MLS and cross-checked them with Zillow. I nearly died laughing. A few were right on the money, and others were drastically off the mark. You could do as well flipping a quarter and guessing values based upon heads or tails.
2007-11-01 11:22:37 · answer #3 · answered by acermill 7 · 1⤊ 1⤋
view the comparable houses within your neighborhood that have the same square footage, and number of bedrooms and bathrooms. you make the judgment call from there... Zillow is generally close, but i've also seen it way off...especially in big cities where values can change drastically from one block to the next. http://www.choicerealestate.net
2007-11-01 09:55:43 · answer #4 · answered by Anonymous · 0⤊ 1⤋
I think Zillow gives a pretty accurate estimate in most cases. Naturally, everything is only worth what someone is actually willing to pay for it.
2007-11-01 08:49:33 · answer #5 · answered by Anonymous · 0⤊ 4⤋
In a cookie cutter subdivision it is OK. In neighborhoods where the homes are mixed, it can be way off.
2007-11-01 08:39:31 · answer #6 · answered by Anonymous · 0⤊ 1⤋