Old 02-07-2009, 12:28 PM
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How accurate do you think the Zillow estimates for house values are these days ? My house value has gone down significantly in the past 12 - 18 months but I expected that to be the case. I see some homes in my neighborhood going for the zillow estimated value from a year ago - these tend to be the nicer / better homes in the area. Are the sellers just nuts or is zillow understated when the home is in an area that runs between small run down houses and nicer newer houses within less than a mile of each other ?
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Old 02-07-2009, 02:25 PM
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I have found the zillow estimates to be fairly accurate. In your situation, the higher end houses should help increase the value of your residence at sale time.
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Old 02-07-2009, 02:48 PM
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I have observed scenarios where Zillow has in many cases been significantly inaccurate and in others rather close. One house I know of they have listed for as much money as was recently spent on improvements within the past two years. In the same neighborhood, some houses have sold for considerably more money than was there estimate. In other neighborhoods, their estimate appears to be generous to the homeowner.
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Old 02-07-2009, 03:36 PM
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do you guys use independent appraisers that are local??
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Old 02-07-2009, 03:52 PM
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They've been pretty accurate in my neighborhood, as compared to sales numbers anyway.
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