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Old 01-16-2018, 12:44 PM
 
920 posts, read 329,984 times
Reputation: 1555

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Quote:
Originally Posted by MichaelBC View Post
my only issue with Zillow was when I seen my house for sale on there and it wasn't really up for sale at that time. I had a friend call the number and it was a scam where the lady told them that she is relocating out of state but needed a deposit to hold the house.

I had to contact Zillow three times before they finally removed the house and it was only after I threatened them with a lawsuit. I actually had people looking into my house through the windows.
You should be able to prevent that from happening by claiming your house. In order to do a for sale by owner listing it on Zillow you need to claim the house.
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Old 01-16-2018, 04:05 PM
 
5,188 posts, read 2,026,989 times
Reputation: 3286
Quote:
Originally Posted by MikeJaquish View Post
Because I did not give them permission to publish an opinion of value on my home.

Because I think "Opinion of Value" is the realm of formal appraisal. Pop appraisals via commercialized AVMs are unregulated, without any accountability or responsibility.



Pop appraisals via commercialized AVMs DO influence what some parties are willing to pay, or what some parties expect to receive for the property.
Meddling with valuation perception with unsolicited pop appraisals is irresponsible and harmful to consumers.

Did you read the story?
Zillow is being sued for favoring some firms by withholding Zestappraisals, but refusing to withhold them for other firms.
After telling me that their algorithm did not allow them to pick and choose, they proceeded to pick and choose.
Liars.
I support the plaintiffs.
I highly doubt that Zillow does not have licensed appraisers on staff. I would be curious if the majority of cases are harmful to consumers or if they are harmful to would be sellers and agents .....
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Old 01-16-2018, 04:12 PM
 
5,188 posts, read 2,026,989 times
Reputation: 3286
Quote:
Originally Posted by MikePRU View Post
It is absolutely subjective. I'm not sure why you quoted me because I never said it wasn't.

Market value falls into the realm of a "common man" test. If you lined up 100 average Joes and asked them what they think a particular house is worth, you may get 80 different answers. However, the vast majority will fall within a fairly narrow range.

This being said, is it responsible for a company to put a value label on each and every property in the country that has a fairly limited chance of actually falling within that range? If you sell some property, I would encourage you to follow the Zestimate before, during, and after your sale. I think you'll find it quite interesting. Larger question from the article though is: is it fair to put the Zestimate front and center on some listings and hide it in the small print in others?

BTW, my favorite thing about the Zestimate is that Zillow puts a disclaimer on it saying that it's for entertainment purposes only. Maybe I'll start going around slandering people and when someone sues me I'll just say it was for entertainment purposes only.





Hilarious!
Does stating what I think your house is worth to me fall into the realm of slander (libel)? Yes, Zillow very much does influence peoples perceptions, otherwise they would not have created the data base in the first place. However, does said influence TYPICALLY benefit the would be seller or the buyer? Its no secret that single family home prices across the USA are hugely over inflated in price (based on median income vs home prices falling way outside the 2.5 times rule of thumb) so I cant feel bad if a zestimate is showing a value lower than what a home owner thinks it should be, especially since so many home owners are banking on their house being their retirement plan.


If it was showing them higher I doubt there would be a law suit by an owner. Unless they were upset because their tax valuation was being based on Zillow which is doubtful.
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Old 01-16-2018, 04:58 PM
 
Location: Cary, NC
30,090 posts, read 52,792,093 times
Reputation: 28282
Quote:
Originally Posted by pittsflyer View Post
Does stating what I think your house is worth to me fall into the realm of slander (libel)? Yes, Zillow very much does influence peoples perceptions, otherwise they would not have created the data base in the first place. However, does said influence TYPICALLY benefit the would be seller or the buyer? Its no secret that single family home prices across the USA are hugely over inflated in price (based on median income vs home prices falling way outside the 2.5 times rule of thumb) so I cant feel bad if a zestimate is showing a value lower than what a home owner thinks it should be, especially since so many home owners are banking on their house being their retirement plan.


If it was showing them higher I doubt there would be a law suit by an owner. Unless they were upset because their tax valuation was being based on Zillow which is doubtful.
You missed the point entirely.

Low? High? On the mark?
I don't care.
I never gave them permission to assess a value on my property to use to troll for business.

"Slander" is a red herring.
I just want them not to appraise my house without permission, accountability, or standards.

And, as I work both sides of real estate, with buyers and sellers, I see both misled by pop appraisals via commercial AVM.
I want to see the law catch up with the market and provide clear regulatory standards favorable to consumers regarding pop appraisals.
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Old 01-16-2018, 06:14 PM
 
Location: Asia
2,399 posts, read 814,161 times
Reputation: 2614
Quote:
Originally Posted by pittsflyer View Post
Does stating what I think your house is worth to me fall into the realm of slander (libel)?
An easy way to remember:

Spoken = Slander

Literature = Libel
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Old 01-16-2018, 06:43 PM
 
1,022 posts, read 1,356,148 times
Reputation: 844
Quote:
Originally Posted by MikePRU View Post
I remember when I first became an agent I signed up to advertise on Zillow. My sales rep at one point said to me . . . don't worry if you get any negative reviews we'll just delete them for you. Luckily, I've never had to take him up on his offer, but I also discontinued my service 6 months later so I'm not sure he would do it for me now anyway.

I don't really have a major issue with Zillow. I think NAR is a gaggle of morons for sitting back and watching it become the #1 real estate website but that's another story. My biggest complaint is that Zillow is not transparent about what they really are: a website to market sales leads to real estate agents. They don't care about data accuracy, listing accuracy, the Zestimate being within a million dollars of the real value or anything else. They just want consumer's information to sell to real estate agents and that's about it.



Maybe because it's wildly inaccurate but yet many in the public seem to think it's some kind of appraisal . . . just hazarding a guess here.
Zillow for Real Estate = True Car for Auto Industy. Both shams that portray themselves as something they are not.
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Old 01-16-2018, 06:54 PM
 
5,188 posts, read 2,026,989 times
Reputation: 3286
Quote:
Originally Posted by MikeJaquish View Post
You missed the point entirely.

Low? High? On the mark?
I don't care.
I never gave them permission to assess a value on my property to use to troll for business.

"Slander" is a red herring.
I just want them not to appraise my house without permission, accountability, or standards.

And, as I work both sides of real estate, with buyers and sellers, I see both misled by pop appraisals via commercial AVM.
I want to see the law catch up with the market and provide clear regulatory standards favorable to consumers regarding pop appraisals.
So are you going to sue amazon when they record your purchase history and advertise things to you?
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Old 01-16-2018, 07:30 PM
 
Location: northern va
1,506 posts, read 1,859,379 times
Reputation: 1245
Quote:
Originally Posted by pittsflyer View Post
So are you going to sue amazon when they record your purchase history and advertise things to you?
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Old 01-16-2018, 09:24 PM
 
159 posts, read 566,342 times
Reputation: 140
Quote:
Originally Posted by MikeJaquish View Post

I miss ol' Surbiton.

Smart guy.
Flattery sure gets my attention

Good job I opened City-Data for first time in a while or I would have missed this. If it can be proved Zillow gives preferential arrangements to certain firms then they will have a problem, and from my own analysis I sure have seem a few cases where homes have had an endorsement on Zillow "No Zestimate Data Available"; and sure enough there is NO Zestimate or Zestimate Range provided.

I have also observed some Brokers seem to have a magic touch of getting Zestimates substantially increased in the days prior to Listing a home. A coincidence? manipulation of home facts? OR maybe a "cozy relationship with Zillow"? in other words pay them more money. It will be interesting to see how this challenge to Zestimates works out. Sooner or later Zillow is going to get busted on what is a fundamentally flawed process in imposing Zestimates and refusing all requests to correct. It also goes against ALL socially accepted principles of fair play and without any doubt does cause potential financial damage (and misery) to millions of homeowners unfortunate enough to have an inaccurate Zestimate imposed on their home.
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Old 01-16-2018, 09:46 PM
 
5,188 posts, read 2,026,989 times
Reputation: 3286
Quote:
Originally Posted by Surbiton View Post
Flattery sure gets my attention

Good job I opened City-Data for first time in a while or I would have missed this. If it can be proved Zillow gives preferential arrangements to certain firms then they will have a problem, and from my own analysis I sure have seem a few cases where homes have had an endorsement on Zillow "No Zestimate Data Available"; and sure enough there is NO Zestimate or Zestimate Range provided.

I have also observed some Brokers seem to have a magic touch of getting Zestimates substantially increased in the days prior to Listing a home. A coincidence? manipulation of home facts? OR maybe a "cozy relationship with Zillow"? in other words pay them more money. It will be interesting to see how this challenge to Zestimates works out. Sooner or later Zillow is going to get busted on what is a fundamentally flawed process in imposing Zestimates and refusing all requests to correct. It also goes against ALL socially accepted principles of fair play and without any doubt does cause potential financial damage (and misery) to millions of homeowners unfortunate enough to have an inaccurate Zestimate imposed on their home.
Unless someone is buying a house from out of state sight unseen and knows 0 about the local market only an idiot would say oh look zilliow says your unimpressive run of the mill single family home is worth a gillion dollars, well if thats the zestimate here is a check.

Seriously?

The bottom line is buyers are tired of ratched up price tags by boomers attempting to retire, the only thing any buyer is going to be happy about is a LOW price not a boomer trying to retire off their "equity" price.

If the prices were shown as too high buyers would just leave (or get into a sitaution where they buy a house they cant afford, get laid off 5 years later and get forclosed on). However is prices are shown as too low, the entrenched owners will loose their minds, after all thats their retirement.

No one is going to sue over prices that are to high. And no buyer is going to be swayed by a high zillow price, physiologically only low ball prices will settle into the minds of buyers not inflated ones, they will just move on.

Scenario 1 - Buyer - Oh look another a hole boomer trying to retire off their house sale, no thanks pass. No law suit.
Scenario 2 - buyer - holy cow look we can actually participate in ownership of the nation I have a passport for. Seller - this is an outrage how dare they list my house as not being enough for me to cash out and retire in mexico on. I didnt give permission to put these low numbers in buyers heads so that they think they can buy in without having to live on the edge for 30 years. Buyers might actually start holding out for good deals because they dont want to have a house payment that is an albatross hanging around their necks for the rest of there lives while I relax on the beach because I only paid 10% of that price back in the 70's.

Am I getting close.
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