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Yeah people dump on Zillow quite a bit. Probably because home values can be a very emotionally stirring event. Zillow's aggregate economic data is solid, often
by dforrestwilson1 10y ago
Yeah people dump on Zillow quite a bit. Probably because home values can be a very emotionally stirring event.
Zillow's aggregate economic data is solid, often a better predictor than the Case Shiller Index. I expect that Zestimates will improve over time as the data trickles down and lessons are learned.
- kelukelugames 10y agoThis is correct. I used to work at Redfin and estimates are a sore point for homeowners. It's one large pissing contest for their egos. Everyone has the same complaint, "Why isn't my home priced as high as that one?!?"
- irishcoffee 10y agoI'm the other guy. I bought my house for 260k a year ago, redfin now lists it at 330k, and there is just no possible way that is correct.
- gozur88 10y agoI'm in the same boat as you. The Zillow estimate in my neighborhood seem to be about 15% higher than the sale price on any particular property. It's kind of academic for me, since I don't plan on selling any time soon, but it would be a mistake to do financial planning based on those estimates. The funny thing is the estimate doesn't change when a sale closes. I would think the surest indication of what you can get for a property is what it sold for last week.
- chrisan 10y ago> "Why isn't my home priced as high as that one?!?" Could Redfin not explain why? I've never bought a home in an area Redfin is in, so I havent used the site before. If Redfin knows the formulas/parameters used for the estimates couldn't they break it down and do side by side comp of $ amounts?