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Old 09-23-2013, 12:44 AM
 
Location: Santaluz - San Diego, CA
4,498 posts, read 9,390,954 times
Reputation: 2015

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Quote:
Originally Posted by Jaded View Post
UGH. Zillow! The database you love to hate. For kicks I put our soon-to-be home's address in, it came back pretty much on target. Then, I put our home back east in; it was off.. But, it's always been off since we bought the house and changes weekly...Go figure.

I wonder if the reason is due to how appraisals are done in different states?
Jaded,

Lately the houses on Zillow for this general area are moving up now the past few weeks. They are catching up to what true prices and recent comps are starting to sell for. Still a bit low but the values are jumping up almost every day as recent comps are being added into the mix.

Just one of those things that is fun to check up on. When do you close on your new house?
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Old 09-23-2013, 01:05 AM
 
1,851 posts, read 3,402,641 times
Reputation: 2369
Quote:
Originally Posted by earlyretirement View Post
When do you close on your new house?
Next week! Whoo hoo! Yippee! I can't wait...just bought the washer and dryer this weekend.
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Old 09-23-2013, 01:07 AM
 
Location: Santaluz - San Diego, CA
4,498 posts, read 9,390,954 times
Reputation: 2015
Quote:
Originally Posted by Jaded View Post
Next week! Whoo hoo! Yippee! I can't wait...just bought the washer and dryer this weekend.
That's awesome! Again, congrats! You'll LOVE the area. Welcome to the neighborhood.
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Old 09-23-2013, 07:48 AM
 
Location: 92037
4,630 posts, read 10,283,270 times
Reputation: 1955
Thea range for our pad is 229k to 325k in Lemon G.
Oddly enough its almost exactly the same swing in Murrieta for our other place.

Just like T.Damon was saying...talk about variance in these older hoods. What is weird is the place in Murrieta is from the 90s vs our place in LG from the late 40s.

Go figure !
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Old 09-23-2013, 09:33 AM
 
Location: Santaluz - San Diego, CA
4,498 posts, read 9,390,954 times
Reputation: 2015
Quote:
Originally Posted by shmoov_groovzsd View Post
Thea range for our pad is 229k to 325k in Lemon G.
Oddly enough its almost exactly the same swing in Murrieta for our other place.

Just like T.Damon was saying...talk about variance in these older hoods. What is weird is the place in Murrieta is from the 90s vs our place in LG from the late 40s.

Go figure !
Plus the Zillow price on a house like yours Shmoov would probably be almost worthless. Because your house is MUCH nicer than anything else selling in your area. The Zestimates are only going off recent comps and I'm sure most of the recent comps are dumpy houses. So you gotta figure your house is probably worth at least $100,000+ more than what Zillow shows.

Man, I LOVE your house...it's such a gem.
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Old 09-23-2013, 09:38 AM
 
7,280 posts, read 10,966,129 times
Reputation: 11491
Values in large parts of California are still 30% below the 09 prices.

Bubble? Hardly.
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Old 09-23-2013, 09:52 AM
 
9,527 posts, read 30,501,156 times
Reputation: 6440
Zillow places a high weight on the PPSF of recently sold comps. So it works well in tract housing developments, condos and townhomes where HOAs and mass-produced building make the homes all very similar. It works poorly in older or custom home areas where the variance of homes interior can be very broad. Since Zillow can't see inside it's algorithm is limited (and many would say flawed) as a result. Another thing it doesn't handle well is variance of PPSF in homes are small or large compared to the surroundings... i.e. small homes usually have a higher PPSF and large homes a low PPSF compared to the median-sized home in the area... Zillow just treats them all the same and scales the price up/down accordingly.
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Old 09-23-2013, 11:33 AM
 
Location: La Mesa Aka The Table
9,825 posts, read 11,571,156 times
Reputation: 11905
Quote:
Originally Posted by Sassberto View Post
Zillow places a high weight on the PPSF of recently sold comps. So it works well in tract housing developments, condos and townhomes where HOAs and mass-produced building make the homes all very similar. It works poorly in older or custom home areas where the variance of homes interior can be very broad. Since Zillow can't see inside it's algorithm is limited (and many would say flawed) as a result. Another thing it doesn't handle well is variance of PPSF in homes are small or large compared to the surroundings... i.e. small homes usually have a higher PPSF and large homes a low PPSF compared to the median-sized home in the area... Zillow just treats them all the same and scales the price up/down accordingly.
Hey Sass!
Have you been paying attention to all the houses coming on the market in San Carlos?
There are about 10 for sale along Jackson dr,but all priced way to high imo
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Old 09-23-2013, 11:54 AM
 
9,527 posts, read 30,501,156 times
Reputation: 6440
Quote:
Originally Posted by hitman619 View Post
Hey Sass!
Have you been paying attention to all the houses coming on the market in San Carlos?
There are about 10 for sale along Jackson dr,but all priced way to high imo
Yeah... I don't want a house on a main street like Jackson - too much traffic and noise for me. Otherwise it's the same 3-5 homes ... seems like some of this is just sitting on the market. There's one I have my eye on...
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