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House Values on Zillow

Started 1359473035.513 in Viewpoints | Last reply 1359591784.587 by madzonie

I bought my home in June 2009 - in the midst of the downturn.

I got a real bargain - $100,000 under the asking price, although it took almost a year until the buyer accepted my offer!

I just checked my home on Zillow. The value has literally doubled. Which makes sense, since the homes around it that were recently sold reflected the higher price. I know Zillow isn't the most reliable - but the actual comps they list make sense.

Has anyone else checked Zillow? Are housing prices rising where you live?

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theBabe1359473266.34917 PostsRegistered 6/16/2010the USA

You can tell by the ones that have the "yellow" houses, those are recently sold homes and what they actually sold for. Other than that, I have found most of the other figures grossly overinflated.

terrier31359473367.16327863 PostsRegistered 7/13/2007
On 1/29/2013 theBabe said:

You can tell by the ones that have the "yellow" houses, those are recently sold homes and what they actually sold for. Other than that, I have found most of the other figures grossly overinflated.

That is how I checked. The homes around me, with less square footage even, sold for the value they have placed on my home.

So I'm happy - I got a real bargain!

LipstickDi­va1359473414.2538712 PostsRegistered 4/22/2005On the Lake in Ohio

Unfortunately no. Our county just did a reappraisal of all the houses and my value went down $26,000.00 on my home according to them. Zillow has it valued at about $3,000 more than the county.

We have a few foreclosed homes on my street sitting empty and a couple others for sale. My Dh and I are seriously considering moving to another city slightly further west. A house was just foreclosed on next to his best friend. The asking price is very cheap for a 4000 square foot home on 12 acres of land and a built-in pool. We need to make a decision fast though.

You can't buy love but you can adopt it. Adopt, don't shop.

shesallthat1359473420.80310171 PostsRegistered 4/4/2005

a real estate agent i know said that she tells people not rely on that site for info. the couple of times that i have looked at my own property value it was seriously wrong!!!

she said: "that's alot of money to spend on a purse!" and i instantly knew we could not be friends.

briiii1359473512.2936305 PostsRegistered 2/18/2010Chicago

The value of your home and what people will pay for it are two different things.

*sigh*

terrier31359473663.51727863 PostsRegistered 7/13/2007
On 1/29/2013 shesallthat said:

a real estate agent i know said that she tells people not rely on that site for info. the couple of times that i have looked at my own property value it was seriously wrong!!!

Was it too high or too low?

terrier31359473716.22327863 PostsRegistered 7/13/2007
On 1/29/2013 briiii said:

The value of your home and what people will pay for it are two different things.

Very true!

Which is why I checked the comps that had recently sold in the neighborhood.

I'm not planning on moving.

LipstickDi­va1359473732.85738712 PostsRegistered 4/22/2005On the Lake in Ohio
On 1/29/2013 shesallthat said:

a real estate agent i know said that she tells people not rely on that site for info. the couple of times that i have looked at my own property value it was seriously wrong!!!


I know in our county if anyone wants to appeal their home value for real estate tax purposes, the county will not accept Zillow for values.

You can't buy love but you can adopt it. Adopt, don't shop.

sunshine451359473801.2841944 PostsRegistered 1/13/2007east coast and west coast

i have found zillow to be fairly accurate when it comes to giving home values in our area. when i compare the actual sale prices of comparable homes around ours it definitely is not off by much.

"When will our consciences grow so tender that we will act to prevent human misery rather than avenge it?" - Eleanor Roosevelt

shesallthat1359473912.9510171 PostsRegistered 4/4/2005
On 1/29/2013 terrier2 said:
On 1/29/2013 shesallthat said:

a real estate agent i know said that she tells people not rely on that site for info. the couple of times that i have looked at my own property value it was seriously wrong!!!

Was it too high or too low?

too low!

i was insulted!{#emotions_dlg.laugh} there is no way i would sale all this property for the amount shown.

and the taxes - omg - waaaay off!!!

Last edited on 1/29/2013

Last edited on 1/29/2013

she said: "that's alot of money to spend on a purse!" and i instantly knew we could not be friends.

terrier31359474198.6127863 PostsRegistered 7/13/2007
On 1/29/2013 shesallthat said:
On 1/29/2013 terrier2 said:
On 1/29/2013 shesallthat said:

a real estate agent i know said that she tells people not rely on that site for info. the couple of times that i have looked at my own property value it was seriously wrong!!!

Was it too high or too low?

too low!

i was insulted!{#emotions_dlg.laugh} there is no way i would sale all this property for the amount shown.

and the taxes - omg - waaaay off!!!

Last edited on 1/29/2013

My taxes were correct to the dollar...but that might be because the sale in 2009 was so recent.

How were the comps near your home? Were they low too?

shesallthat1359474677.08310171 PostsRegistered 4/4/2005
On 1/29/2013 terrier2 said:
On 1/29/2013 shesallthat said:
On 1/29/2013 terrier2 said:
On 1/29/2013 shesallthat said:

a real estate agent i know said that she tells people not rely on that site for info. the couple of times that i have looked at my own property value it was seriously wrong!!!

Was it too high or too low?

too low!

i was insulted!{#emotions_dlg.laugh} there is no way i would sale all this property for the amount shown.

and the taxes - omg - waaaay off!!!

Last edited on 1/29/2013

My taxes were correct to the dollar...but that might be because the sale in 2009 was so recent.

How were the comps near your home? Were they low too?

some of them were. the one's closest to me built around the same time as ours and i know the house and what they paid. the real estate agent told me this because a few years ago people were coming to them looking for homes in this area and none were available so she was going to certain properties that they had expressed interest in and asking if we were looking to sale! {#emotions_dlg.blink}

she said: "that's alot of money to spend on a purse!" and i instantly knew we could not be friends.

bluecat21359476213.6474234 PostsRegistered 1/7/2005

There is a real shortage of homes in my community...has created a bit of a bidding war...I read that home prices are inflated at least 20%...

We are considering possibly moving in the next year due to school issues....I am really dreading it!!

Our community is a bit unique, and we have received inquiries whether we are open to selling...I don't worry too much about selling our property, but I do worry about buying another...I don't have the stomach to deal with bidding wars etc...too stressful:(

lucyfreedom1359476383.393470 PostsRegistered 11/8/2012

My personal home has gone down in value every year and several homes in my area have been recently forclosed on, which doesn't get much press anymore, but it is still happening all over the country. The housing market is a fiasco.

Hildegarde­ Withers1359476674.41323377 PostsRegistered 7/3/2008

That price usually varies depending on what site you look at. Sometimes, they're way off.


mgm21359476786.34317850 PostsRegistered 9/15/2012Livin' My Life Like It's Golden
On 1/29/2013 lucyfreedom said:

My personal home has gone down in value every year and several homes in my area have been recently forclosed on, which doesn't get much press anymore, but it is still happening all over the country. The housing market is a fiasco.

You're stuck in a bubble, the housing market is doing much better than five years ago and a leading indicator of the booming economy. Most everything has improved since 20007-08.

Always laugh when you can, it is cheap medicine. - Lord Byron


MaggieToo1359476996.728356 PostsRegistered 10/6/2004AZ

The house I grew up in was purchased by my dad for $5K. I just checked Zillow and it is shown as $395,276. {#emotions_dlg.scared}

The first house DH and I bought in CA for $26K is now shown to be $409.220. {#emotions_dlg.ohmy}

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Last edited on 1/29/2013

There are none so blind as those who will not see.

shesallthat1359477119.56710171 PostsRegistered 4/4/2005
On 1/29/2013 bluecat2 said:

There is a real shortage of homes in my community...has created a bit of a bidding war...I read that home prices are inflated at least 20%...

We are considering possibly moving in the next year due to school issues....I am really dreading it!!

Our community is a bit unique, and we have received inquiries whether we are open to selling...I don't worry too much about selling our property, but I do worry about buying another...I don't have the stomach to deal with bidding wars etc...too stressful:(

that is what i was saying about our area. we plan to move in a few years but we will be building. we are going to give this house to our oldest son.

she said: "that's alot of money to spend on a purse!" and i instantly knew we could not be friends.

lucyfreedom1359477219.71470 PostsRegistered 11/8/2012
On 1/29/2013 mgm2 said:
On 1/29/2013 lucyfreedom said:

My personal home has gone down in value every year and several homes in my area have been recently forclosed on, which doesn't get much press anymore, but it is still happening all over the country. The housing market is a fiasco.

You're stuck in a bubble, the housing market is doing much better than five years ago and a leading indicator of the booming economy. Most everything has improved since 20007-08.

No, I am personally not stuck, just nothing moving here because of all the foreclosures 2 streets over due to lost income of people losing their jobs they had for over 25 years. This is a fact. This scenerio is still happening all over the country but no one is talking about it anymore. I have no worries as my home is almost paid off, but it has lost value thanks to the past 3 years of job lossess = income loss = forclosures for millions of people =devalued homes. My realtor who lives across the street from me says she has never seen it take so long to bounce back and she has been a realtor for over 24 years.

Last edited on 1/29/2013

Last edited on 1/29/2013

bunny~1359477575.051899 PostsRegistered 2/27/2011

Just checked my house out of Zillow.
Not accurate at all. The size of the house and the lot are both incorrect. There have no additions done to give them a chance of being off.

If I were on the market I would go by seeing the home in person.

What doesn't break us makes us stronger.

mgm21359477766.22317850 PostsRegistered 9/15/2012Livin' My Life Like It's Golden
On 1/29/2013 lucyfreedom said:
On 1/29/2013 mgm2 said:
On 1/29/2013 lucyfreedom said:

My personal home has gone down in value every year and several homes in my area have been recently forclosed on, which doesn't get much press anymore, but it is still happening all over the country. The housing market is a fiasco.

You're stuck in a bubble, the housing market is doing much better than five years ago and a leading indicator of the booming economy. Most everything has improved since 20007-08.

No, I am personally not stuck, just nothing moving here because of all the foreclosures 2 streets over due to lost income of people losing their jobs they had for over 25 years. This is a fact. This scenerio is still happening all over the country but no one is talking about it anymore. I have no worries as my home is almost paid off, but it has lost value thanks to the past 3 years of job lossess = income loss = forclosures for millions of people =devalued homes. My realtor who lives across the street from me says she has never seen it take so long to bounce back and she has been a realtor for over 24 years.

Last edited on 1/29/2013

Your little piece of the world does not represent the entire country.

Always laugh when you can, it is cheap medicine. - Lord Byron


straitgirl1359479090.63321653 PostsRegistered 7/29/2006

Just checked and the value of my home has gone up $2200 the last 30 days but the rent estimate went down $82. It is still $55,000 lest than I paid new in 2007. I own free & clear and am not moving.

millieshops1359481214.4215096 PostsRegistered 3/15/2007

If I want to know what my condo is worth, I'm asking a busy local realtor for a market appraisal, not Zillow. Zillow can put you in the ballpark, but it doesn't tell you exactly where the ball is.

LipstickDi­va1359481687.1438712 PostsRegistered 4/22/2005On the Lake in Ohio

According to USA Today, December's existing home sales were down and sales were weaker than expected but the trend is still up. Housing prices appear to be mending with prices rising and more new construction. Housing is finally contributing to the economy's recovery. Historically, housing has led the U.S. economy out of recessions but that didn't happen this time and it's one reason the recovery has been week.

You can't buy love but you can adopt it. Adopt, don't shop.

sunshine451359483172.38341944 PostsRegistered 1/13/2007east coast and west coast
On 1/29/2013 bunny~ said:

Just checked my house out of Zillow.
Not accurate at all. The size of the house and the lot are both incorrect. There have no additions done to give them a chance of being off.

If I were on the market I would go by seeing the home in person.

i went onto zillow and "claimed" my home and "claimed" my s/o's home also. i updated the listing to add anything that i had done to more accurately reflect the homes.

"When will our consciences grow so tender that we will act to prevent human misery rather than avenge it?" - Eleanor Roosevelt

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