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Old 01-22-2008, 11:33 AM
 
Location: The Big D
14,862 posts, read 42,894,005 times
Reputation: 5787

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Well, with all of the talk not just here on the Dallas and Texas boards but on other states boards where folks are saying our real estate does not appreciate............ Just saw that in the last 2 weeks my house has SUPPOSEDLY gone up $55K IN VALUE!!! WOO-HOO! Honey, start packing the for sale sign is going up Of course I saw this on zillow which is a site I don't WHOLLY agree with. Their "zestimates" are off for the most part. I just found this humorous. You would think with the stock markets actions this would not happen but who knows. If this goes up any more like THAT I just MIGHT think about selling
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Old 01-22-2008, 11:52 AM
 
Location: Allen, Texas
670 posts, read 3,000,101 times
Reputation: 203
LOL I think people want the astronomically appreciation seen on the coasts...that's great! Then when the bottom falls out it affects everyone. I seriously cannot imagine owning a mortgage which is $50-100K MORE (not to mention the equity) than what the house is worth. No thanks I will take normal appreciation any time.
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Old 01-22-2008, 12:05 PM
 
Location: Dallas/Fort Worth, Texas
4,207 posts, read 15,262,597 times
Reputation: 2720
Zillow doesn't work in Texas and we can't get the word out enough to people. You would be amazed at the number of people that believe those numbers and try to either sell or get a HELOC after they see that.
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Old 01-22-2008, 12:08 PM
 
Location: The Big D
14,862 posts, read 42,894,005 times
Reputation: 5787
Quote:
Originally Posted by nsumner View Post
Zillow doesn't work in Texas and we can't get the word out enough to people. You would be amazed at the number of people that believe those numbers and try to either sell or get a HELOC after they see that.
OH, I know. When I first heard about it on C-D and visited the site I about had a heart attack. I was ready to throw a "for sale" sign in the front yard. Their values go up and down WAY TOO MUCH! The market here is NOT like that. You don't see sellers changing the price of their home every other day.

I'm wondering what it says about others??? Anyone else checked theirs? Just for grins. That is what I do it for - grins
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Old 01-22-2008, 12:12 PM
 
Location: Allen, Texas
670 posts, read 3,000,101 times
Reputation: 203
If I could get to the site I would. I know I checked the house we sold last year (McKinney) before moving back and IIRC it was $20K over appraised value and about $25K over what it sold for.
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Old 01-22-2008, 12:16 PM
 
Location: The Big D
14,862 posts, read 42,894,005 times
Reputation: 5787
Quote:
Originally Posted by USA_Mom View Post
LOL I think people want the astronomically appreciation seen on the coasts...that's great! Then when the bottom falls out it affects everyone. I seriously cannot imagine owning a mortgage which is $50-100K MORE (not to mention the equity) than what the house is worth. No thanks I will take normal appreciation any time.
Well, from the time I checked it at the end of the year it is up $75K WOW!!! I'm trying to check our old houses we have owned and my parents that the sold and the one they bought last year. Seems their site is slow and having problems today.
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Old 01-22-2008, 01:05 PM
 
Location: Allen, Texas
670 posts, read 3,000,101 times
Reputation: 203
I keep trying in between work things and yes it's slow.

I did the same thing a few years ago, checked Zillow and Realtor.com to kind get an idea of what homes were going for where I grew up and stuff. The houses in New Orleans (after Katrina) did go up but nothing astronomically, i.e., it seemed to me in line with inflation; but, the ones in California went up a lot more--like four and five times what they paid....and sorry two of them (my parents first house in California together and my stepmom's house before she married my dad) are not in areas I'd want to be alone after sunset in.
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Old 01-22-2008, 01:29 PM
 
Location: Deep in the heart of Texas
1,914 posts, read 7,151,374 times
Reputation: 1989
Yeah, Zillow is way overpriced, and does not reflect current market trends. My house that I just sold in October was priced $30,000 over what we actually sold for and what the comps showed around our area.

I wish it had been accurate though
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Old 01-22-2008, 02:09 PM
 
16,087 posts, read 41,175,792 times
Reputation: 6376
Zillow is notorious for being wrong around here - most houses are unique and in varying conditions.
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Old 01-22-2008, 02:36 PM
 
Location: WA
5,641 posts, read 24,963,956 times
Reputation: 6574
I have the history of five homes sold over the last ten years in the Dallas area. Each appreciated, some very well, but not all at the rate in hot markets. The ANNUAL RATE of appreciation we have seen on these homes are:

16%
9.8%
8.6%
1.2%
1.1%
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