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Referencing Zillow is the first indication you have no clue about the real estate market. Two examples: The house I live in has a carriage house behind it. It'
by jbail 15y ago
Referencing Zillow is the first indication you have no clue about the real estate market.
Two examples: The house I live in has a carriage house behind it. It's zoned as a rental, has a kitchen, bathroom, bedroom and about 800 sq ft of studio type space with about a 15 ft ceiling. Does this information appear on my Zillow page? Nope. Zillow has no way to enter that type of information and its valuation is missing this very crucial bit of info.
Secondly, where I used to live (in the mountains above Boulder), there was a house for sale next door. It was on one acre and was a modified single wide trailer. Zillow said it was worth $350,000. They said the property I was living on next to it (5 acres, a main house twice the size of our neighbor and a detached cabin) was worth $420,000. Seemed way off to me. Well, the house next door went for sale and sold for $149,000.
After that, I don't trust Zillow at all. They have a lot of work to do before someone could take any statistics they provide seriously.