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Old 03-02-2008, 03:14 PM
 
Location: Danbury CT covering all of Fairfield County
2,624 posts, read 7,401,178 times
Reputation: 1371

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Some of the comps they choose for my personal home aren't even in my city or state since I'm right on the line for both.
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Old 03-02-2008, 08:19 PM
 
Location: Houston, Texas
469 posts, read 1,482,164 times
Reputation: 295
Zillow, zillow, zillow uses a algorithim, that is intended to predict near term future value, and is still under development. It uses information from several entities: tax assesed value, closest recent sales, interest rates, consumer habits by market, and current interest rates.

The zestimator is only accurate in areas with very high turnover rates. The value range it gives is usually very accurate in markets it has been accumulating information in for a prolonged time but, make the range wide enough and it is hard to be wrong.

Some of the biggest problems with the zestimator's algorithim is: that it doesnt distinguish between quality of construction between neighborhoods, tax assesments percentage of actually property value differs a great deal depending on area, and interest rates affect on property prices is not immediate.
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Old 03-02-2008, 09:07 PM
 
Location: Barrington
63,919 posts, read 46,539,278 times
Reputation: 20674
Zillow is probably the most misleading thing on the internet.

Zillow is not inside any home and has no idea of condition and does not factor in better or worse locations. The comps it uses are rarely comparable properties.

It's Zillow on crack.
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Old 03-03-2008, 07:19 AM
 
10,156 posts, read 11,125,695 times
Reputation: 20878
I've looked at Zillow many times - My house is worth about 60k more than What I paid less than A Year ago....

Mine hasn't gone down - it's only been going up....

Oh - I don't take the site seriously.....
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Old 03-04-2008, 11:48 AM
 
Location: Central Texas
20,958 posts, read 45,264,919 times
Reputation: 24738
Zillow's accuracy depends on a number of variables, on what state you're in and what information is available publicly in that state, and on the honesty of those homeowners who bother to update the Zillow information.

I wouldn't go by Zillow, in other words. I've found them wrong more often than right, in our area.
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Old 03-04-2008, 05:31 PM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,833,171 times
Reputation: 958
Quote:
Originally Posted by Ibginnie View Post
Zillow doesn't cover my area. I can't find anything on there for my town at all.
Or my sister's house in NJ
Or the house I sold in VA
Or my gf's house in VA
Or the house we looked at last month in NC
Or my cousin's house in MD
Or my ex's house in WV
Or my other gf's house in PA

No comps....Nothing
Try http://www.cyberhomes.com.

Still not very accurate, but maybe a tad more than zillow.
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Old 03-06-2008, 03:09 PM
 
9,300 posts, read 16,605,938 times
Reputation: 15750
Default Zillow - Not reliable

Quote:
Originally Posted by kevcrawford View Post
Zillow is worthless. It's a horrible judge of values.
I agree 100%!
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Old 03-08-2008, 04:49 PM
 
Location: From Sea to Shining Sea
1,082 posts, read 3,774,335 times
Reputation: 519
Cyberhomes gave me the same estimate as zillow.
Must use the same criteria.
MBG
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Old 03-08-2008, 04:57 PM
 
Location: Atlanta
739 posts, read 826,396 times
Reputation: 279
I'm sorry, but Zillow is about as useful as a milk pail under a bull. Or, if you prefer, a kickstand on a fish.
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Old 03-11-2008, 07:02 AM
 
18 posts, read 21,434 times
Reputation: 13
I'll add... that both Zillow and Reality Trac are the clumsiest sites on the internet. Both employ slow page loading maps. Links take forever to load and there are frequent errors. Realtor.com has been 100x's more reliable for updated listings. I've also used google.base.housing with great success for listing search Google Search
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