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Old 08-18-2011, 02:21 PM
 
128 posts, read 245,587 times
Reputation: 54

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Curious, since we will be in the market soon. It's nice to be able to look up current tax information and how much the house last sold for. How accurate do you think the estimates are? Also, is there a way to tell on listing if a home is short sale?
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Old 08-18-2011, 02:24 PM
 
Location: The Triad (NC)
26,901 posts, read 58,020,547 times
Reputation: 29341
somewhere on the continuum of highly unreliable to virtually useless.

hth
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Old 08-18-2011, 02:27 PM
 
128 posts, read 245,587 times
Reputation: 54
lol thanks
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Old 08-18-2011, 02:28 PM
 
Location: Austin, TX
326 posts, read 658,252 times
Reputation: 178
Quote:
Originally Posted by MrRational View Post
somewhere on the continuum of highly unreliable to virtually useless.

hth
agreed
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Old 08-18-2011, 02:37 PM
 
28,384 posts, read 68,046,709 times
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The data that zillow uses comes almost exclusively from governmental records. In some jurisdictions these records are detailed enough consistent enough for the "automated scripts" that zillow relies on to acurrately classify /match the sales with the correct property and then to allow an appropriate amount of correlation / extrapolation to at least be a valid "starting point" BUT in far too many cases the info is not useful at all.

It is a kind of "parlor game" to see just how "out of whack" the zillow numbers shift as various transactions influence their "zestimates"...

As to the OP's question about "short sales" essentially all MLS info is designed to portray JUST data about the property NOT THE OWNER / LENDER so that issues like "short sale" should NOT be expected. If you think about why MLS exists (as a way to present info to assist real estate agents in securing the best price for sellers...) info about the seller's need to "short sell" would be counter to the fiduciary role of listing agents. That said, no agent should be allowed to mistate the terms of sale -- being dishonest is very different than keeping info confidential...
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Old 08-18-2011, 02:41 PM
 
Location: NJ
17,579 posts, read 38,355,604 times
Reputation: 16099
How long is a piece of string?
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Old 08-18-2011, 02:52 PM
 
5,469 posts, read 6,144,899 times
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After you get past the clunky performance of the Zillow site, you are left with a bunch of unreliable information which is out of date, out of context, and generally about as useless as....well....the fourth contigency buyer in a train of buyers who want to buy your house...if they can sell theirs.

I recently had this same discussion with a 20ish person who swore up and down that Zillow was very helpful. It occurs to me now that in a different conversation she had given me some severely incorrect pricing for a home which we both know about...and her info must have come from Zillow.

I guess the trick is to buy from reality and sell to Zillow.

Just kidding. Zillow is basically useless 'stuff' that does more harm than good.
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Old 08-18-2011, 03:29 PM
 
Location: Mostly in my head
19,645 posts, read 53,581,730 times
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Some states are non-disclosure, I.e., Texas. Zillow is even more useless there.

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Old 08-18-2011, 03:30 PM
 
Location: Seattle
1,568 posts, read 2,712,663 times
Reputation: 1585
Kinda
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Old 08-18-2011, 03:57 PM
 
Location: El Pueblo de Nuestra Señora la Reina de los Ángeles del Río Porciúncula
13,691 posts, read 14,103,112 times
Reputation: 9780
I think Zillow is a little bit better than useless, maybe in the ballpark at best.
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