Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Indiana > Indianapolis
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-02-2015, 04:03 PM
 
37 posts, read 43,720 times
Reputation: 18

Advertisements

Here's one listing: 26 Parkview Ave, Indianapolis, IN 46201 is For Sale - Zillow

The graph of the history of its value shows a precipitous drop from around $200,000 to around $100,000 in just the last year. Anyone here know what is going on in this area to cause this drop?
Reply With Quote Quick reply to this message

 
Old 01-02-2015, 04:28 PM
 
Location: Bloomington IN
8,590 posts, read 12,350,394 times
Reputation: 24251
Is it just this house that is dropping?

Also--Zillow estimates are worth what you pay for them--nothing.
Reply With Quote Quick reply to this message
 
Old 01-02-2015, 04:36 PM
 
37 posts, read 43,720 times
Reputation: 18
I was wondering about that latter point--they themselves give information about how accurate they are, and I have been assuming they can't be outright lying about that, but of course things can be spun...

As to your first question, there are some other houses nearby that seem to have experienced the same thing--not not all houses in the area. Not sure what to make of this.
Reply With Quote Quick reply to this message
 
Old 01-02-2015, 05:20 PM
 
Location: TN/NC
35,081 posts, read 31,313,313 times
Reputation: 47551
That's a large home but does not look to be in the best of shape.
Reply With Quote Quick reply to this message
 
Old 01-02-2015, 06:04 PM
 
37 posts, read 43,720 times
Reputation: 18
Yeah, true, but it wouldn't seem like that's something that would have changed in just the last year or so.
Reply With Quote Quick reply to this message
 
Old 01-02-2015, 08:20 PM
 
Location: TN/NC
35,081 posts, read 31,313,313 times
Reputation: 47551
Quote:
Originally Posted by Speusippus View Post
Yeah, true, but it wouldn't seem like that's something that would have changed in just the last year or so.
I'm not a local, but when I watch the news, most of the crime is concentrated in the city proper, predominantly in "working class" neighborhoods along the east side. If you just read the Indy Star, WISH, etc, you're going to get a bad impression of the city proper as a high crime area. I know there are fine neighborhoods in the city, and not so fine, and while I don't know much about the area of this home, the term "city limits" has a negative meaning among a lot of people.
Reply With Quote Quick reply to this message
 
Old 01-02-2015, 08:22 PM
 
37 posts, read 43,720 times
Reputation: 18
Thanks that makes sense. Just wondering what the heck happened specifically within the past year to cause this huge drop in some houses in this area.
Reply With Quote Quick reply to this message
 
Old 01-03-2015, 04:48 AM
 
4,097 posts, read 11,481,166 times
Reputation: 9135
The problem is not the drop in value it was the inaccurate increase in value. Now it appears to be a more normal value for what is there.

House is marginal and needs probably complete renovation. Windows are inappropriate for a historic area or renovation.

Also note the history of this house. Foreclosed on twice? Rental? Unrenovated since 1960s. No way this was ever $200,000 unless someone was trying to get an uninformed person to buy it. Bogus value. Even at $100,000, it requires someone with a good inspector and careful analysis of lot and traffic.
Reply With Quote Quick reply to this message
 
Old 01-03-2015, 05:51 AM
 
37 posts, read 43,720 times
Reputation: 18
That makes sense!

To be clear, this isn't a house I'm looking into, I just picked it as an example. (Though there is a house nearby I'm looking at, which had a similar "drop" over the past year, but it is objectively a much better house.)
Reply With Quote Quick reply to this message
 
Old 01-03-2015, 07:08 PM
 
4,899 posts, read 6,227,229 times
Reputation: 7473
What happened to the Zillow street views? They disappeared about a week ago? Too much information?
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Indiana > Indianapolis

All times are GMT -6. The time now is 07:52 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top