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I’ve owned 5 personal properties during the charted timeframe and Zillow and the like constantly has a 10-20% error rate between their valuation calculation and
by conductr 5y ago
I’ve owned 5 personal properties during the charted timeframe and Zillow and the like constantly has a 10-20% error rate between their valuation calculation and what the market value actually is. It has been under/over but rarely correct. I very recently sold a rental home for $100K less than Zillow, Redfin, and Realtor.com think I should have ($500k vs $600k, where $500k is actually near all time record high within 1 square mile of its metro area). Anyways, it’s hard for me to trust this enough to make any conclusions given what I’ve seen from their data.
- prionassembly 5y agoWhat would be an acceptable error rate?
- conductr 5y agoNo idea honestly, I’m not vested enough to put forth that amount of brain power. I’d prefer just using actual sales price data to get zero errors. I don’t know enough about their valuation algorithms to know what the issue is but if my experience is representative then the fluctuations could be entirely false in relation to what the actual market has witnessed. In other words, this could be garbage in garbage out.