Just for fun-how far off is Zillow now with your house value?

Ours is pretty close now I think, at one point it was grossly overvalued on the "zestimate".
Some of my neighbors values changed-some up, some down, not sure why.
I still like zillow best for comps & satelite pics.I have friends that say zillow is way lower than what they think is true.

I know our group here on the home board decided it was inaccurate most of the time. I'm just wondering since its been a couple of years & the market has changed if its gotten better at being right.

Re: Just for fun-how far off is Zillow now with your house value?

I just checked ours. We just bought our home last year. It's got our sale price on there. The Zestimate is approx $20k more than the sale price.


ETA: I just did the house we have for sale upstate & it's on the market for over $35k less than the Zestimate. Realistically selling for possibly $55k less.

Then, I did the house I grew up in upstate that my parents built. It's a good estimate.

Message edited 3/16/2008 9:11:36 PM.

Re: Just for fun-how far off is Zillow now with your house value?

There is a house on our block that just sold for about $45k less than the zillow estimate.

Re: Just for fun-how far off is Zillow now with your house value?

The satellite pics are very old.
We bought our house in august 2006
and the pics have not been updated since the fall of 2006

Its hard to go by the zestimate because i think its for the original house. We have since done a big extension and dormer.
So i dont think its accurate. They are saying the zestimate is $444k

Re: Just for fun-how far off is Zillow now with your house value?

It currently has our house for 2K above what we paid. When we bought it, it was up and down the whole time (six months ago). But for our neighbors with similar houses, it has it 60-80K above. But, we are the ones who just bought so it has a comp for us. You also have to go in and recreate a comp for yourself because you can include certain things.

I really don't put much value into it. The sattelite is old too on mine.

Re: Just for fun-how far off is Zillow now with your house value?

sometimes its spot on, and sometimes its way off. I check it once in awhile to see what it says for houses I've appraised. I think it tends to be more accurate on houses that have had recent sales - in Suffolk it has very little information to work with (Nassau can provide style, sqft, etc).

Its fairly accurate for my house, but a very similar house as mine one block over is zestimated at $250K more (funny, its zestimate is $786K and yet its currently listed for sale at $539K).

Re: Just for fun-how far off is Zillow now with your house value?

Zillow is showing about 20 grand less than what it's worth...

Re: Just for fun-how far off is Zillow now with your house value?

I think it has my house right around what we could sell it for. But it has the house next door 20k more than mine and we have more land and our house is one room bigger (same model). Strange.

The house behind me is for sale and Zillow has it listed for $1 more than it is on MLS. The house on the corner how ever is valued at almost 200k more than it is for sale for at the moment.

Re: Just for fun-how far off is Zillow now with your house value?

so its seems like we're all in agreement, its still inconsistent at best. I wonder if they will ever be able to gather enough info to get it right most of the time.
I noticed when I sign on AOL a window pops up asking me if I want to check my home value. Its takes you to a new site called Cyber homes-the numbers I got there were different.
I'm reading a book called "house lust" and there is a really funny part about Zillow & how people check on other people's houses.

Message edited 3/17/2008 7:19:23 AM.

Re: Just for fun-how far off is Zillow now with your house value?

it shows at $5000 less than what we paid for it.

Re: Just for fun-how far off is Zillow now with your house value?

When I looked on Friday (I was trying to find what a house around the corner sold for) it was $51k higher than what we paid at this time last year. It's been in that range (give or take $5k) for the past year as well.

Re: Just for fun-how far off is Zillow now with your house value?

Zillow is showing $26K less then what our house was bought for in 2005. It is showing a house that is 2 doors down from us with a price of $15K more then us & our house is much nicer & bigger..

Re: Just for fun-how far off is Zillow now with your house value?

Re: Just for fun-how far off is Zillow now with your house value?

Zillow Estimate on my home is low, none of the updates, amenities (central air, central vac, roof, condition of home,etc) are taken into consideration. In comparables the highest homes that were sold were not included. What hurts me is a home sold 2 houses away sold for a real low price. Home had fire in kitchen, all original, green mold, water coming in basement and roof, structure damage, no amenities, etc. A real handy man special, but when you pass the home it looks nice. So zillow is doing me no favors.

Re: Just for fun-how far off is Zillow now with your house value?

Re: Just for fun-how far off is Zillow now with your house value?

Ours is valued just about $70,000 more than what we paid. It shows proper sale price, but the house is definitely not worth $70k more than that.

Re: Just for fun-how far off is Zillow now with your house value?

Our house is valued about $23K more than we paid for it.

ETA: I wonder when they update the photos? The house shows the trashiness it was before the flipper purchased it.

Message edited 3/17/2008 9:02:52 AM.

Re: Just for fun-how far off is Zillow now with your house value?

ours is about right. Give or take $10K I think.

Our condo is AZ I think is a bit high, but the comps are high too..I wonder if they are right for recent sales. If they are then I may try to sell this year..i was going to wait. Our tenant is interested in buying.

How I would love to unload that and take that debt off my balance sheet!

The rents there don't meet my mortgage.

Re: Just for fun-how far off is Zillow now with your house value?

Zillow is totally inaccurate in my area of NJ. My house is estimated at $270,000 less than what we paid for it last summer. All of the homes in my neighborhood are off by at least $200,000.

Re: Just for fun-how far off is Zillow now with your house value?

ours ispretty accurate. It's just 1k more than we paid last year. But it must be easier with a recent sale.

Re: Just for fun-how far off is Zillow now with your house value?

my house is valued for almost $50K more than we paid last year. There's no way that is right.

Re: Just for fun-how far off is Zillow now with your house value?

Re: Just for fun-how far off is Zillow now with your house value?

Mine is about 75,000 less than what I can likely get. I don't think Zillow is good at all in estimating anything.

Re: Just for fun-how far off is Zillow now with your house value?

Ours isn't too far from what we paid for it, but we have done many improvements, so naturally that would not reflect in the price, as they don't know what we have done. However, the house next to my sister is valued at 506,000 and because of its awful condition, they are asking only 300k for it, so that is obviously quite off!

Re: Just for fun-how far off is Zillow now with your house value?

Message edited 3/17/2008 3:49:57 PM.