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Old 08-15-2018, 08:57 AM
 
19,483 posts, read 17,709,775 times
Reputation: 17013

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Quote:
Originally Posted by MinesotaUser1 View Post
Just looked at few cities in zillow

Frisco
https://www.zillow.com/frisco-tx/home-values/
Buyer's market
Less healthy

Coppell
https://www.zillow.com/coppell-tx/home-values/
Buyer's market
Less healthy

Lewisville
https://www.zillow.com/lewisville-tx/home-values/
Not buyer's market and not sellers market. it is in the middle
Stable

Keep in mind, this facts are in busiest month of the year. This fall season will be crucial
Around DFW who says August is the busiest month of the year?

After reading the above for several minutes I now respect Zillow even less than I did before.

How in the world could a tight market, say Frisco, with increasing prices, nearly zero foreclosures in process, ultra-low delinquencies, nearly zero sub-prime activity, ATOM/MTOM much lower than the national average (less than 60 days @ ~$450K median list price) be labeled a buyers market? Best guess is their algorithm relies too heavily on near term percentage changes to describe Frisco and Coppell very well.


ETA - I missed TC-80's excellent response just above. Zillow really is crap at least vis a vis DFW markets.

ETA II - I just looked up my home "value" on Zillow their guess is about 15- 20% low.

Last edited by EDS_; 08-15-2018 at 09:09 AM..
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Old 08-15-2018, 09:47 PM
 
Location: Dallas, TX
1,067 posts, read 1,086,030 times
Reputation: 1948
Quote:
Originally Posted by EDS_ View Post
Around DFW who says August is the busiest month of the year?

After reading the above for several minutes I now respect Zillow even less than I did before.

How in the world could a tight market, say Frisco, with increasing prices, nearly zero foreclosures in process, ultra-low delinquencies, nearly zero sub-prime activity, ATOM/MTOM much lower than the national average (less than 60 days @ ~$450K median list price) be labeled a buyers market? Best guess is their algorithm relies too heavily on near term percentage changes to describe Frisco and Coppell very well.


ETA - I missed TC-80's excellent response just above. Zillow really is crap at least vis a vis DFW markets.

ETA II - I just looked up my home "value" on Zillow their guess is about 15- 20% low.
Yeah, I have no idea how Zillow comes up with their market “temperature”. Looking at my house/neighborhood and they show the market as being “Cool”. However, they also show the neighborhoodedian “zestimate” as being up 8.5% YOY. Either they market evaluation or their zestimate are way off.

For my individual property the zestimate is actually pretty much exactly what I would list at, so pretty accurate, but the market temperature makes no sense right now.
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Old 08-16-2018, 10:31 AM
 
207 posts, read 204,335 times
Reputation: 126
Quote:
Originally Posted by TurtleCreek80 View Post
For the 2,000,000,0000th time, Zillow is CRAP.

They rate the “health” of the Plano and Coppell markets as “very unhealthy” with 3% of homes underwater and .4% of homes behind on mortgages and they rate the city of Dallas as “very healthy” with 5% of homes underwater and 1% of homes behind on mortgage.

Errors in their algorithms like that drive me crazy and make me question every single other dubious “rating” on their website.
https://www.zillow.com/dallas-tx/home-values/

Don’t you stop and think why Zillow is rating Frisco - a place where homes are selling for +6% more than last year in an average of 6 weeks as a “cold, buyers” market? WTF do you think an actual COLD market looks like???
You have valid points. I feel like you may be right. But again, daily news contradicting with your statements.
Just now i opened cnbc and i have seen this.

https://www.cnbc.com/2018/08/16/hous...ut-prices.html
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Old 08-16-2018, 10:46 AM
 
Location: North Texas
24,561 posts, read 40,086,670 times
Reputation: 28547
Quote:
Originally Posted by MinesotaUser1 View Post
You have valid points. I feel like you may be right. But again, daily news contradicting with your statements.
Just now i opened cnbc and i have seen this.

https://www.cnbc.com/2018/08/16/hous...ut-prices.html
Did you actually read it though?
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Old 08-16-2018, 01:23 PM
 
13,194 posts, read 28,098,013 times
Reputation: 13124
Quote:
Originally Posted by BigDGeek View Post
Did you actually read it though?
Obviously he did not read the second half of the article.
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Old 08-19-2018, 03:18 PM
 
349 posts, read 375,704 times
Reputation: 518
Zillow is terrible at estimates and market conditions. You'll need more than that as an authoritative source.
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Old 09-09-2018, 04:30 AM
 
318 posts, read 335,230 times
Reputation: 242
sine my last post I’ve saw some home are still flying off market in some areas, but some still on the market now going on their 3rd price drop.

4-5 realtors at open houses have told me things have cooled down without me any asking how the market is, just in regular conversation.

one home I was at out of my budget by 40k, just was checking out the neighborhood. The listing realtor told me don’t let that be a factor put in a offer. I was like oh wouldn’t something like that be a lowball, he said only one person came, he can’t tell me what to do but howvee suggested us to put in a offer for what I can pay if we like the house.

ONCE AGAIN not saying a crash is coming, the job market is super strong, and things are up year to year.
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Old 09-09-2018, 04:35 AM
 
318 posts, read 335,230 times
Reputation: 242
Oh and grapevine has some homes (after prices drops) sold below last tax assessment & homes that have still listed marketing that information on the listing.
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Old 09-09-2018, 06:43 AM
 
Location: Kaufman County, Texas
11,816 posts, read 26,657,615 times
Reputation: 10537
Quote:
Originally Posted by houstonview View Post
Oh and grapevine has some homes (after prices drops) sold below last tax assessment & homes that have still listed marketing that information on the listing.
The tax assessments in Grapevine had huge increases this year. I protested and got $20k knocked off ours, but if someone just accepted it, they could quite possibly not be able to sell for that amount. This is even more true if the house hasn’t been updated, or has foundation problems.
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Old 09-09-2018, 08:43 AM
 
318 posts, read 335,230 times
Reputation: 242
Quote:
Originally Posted by ChristieP View Post
The tax assessments in Grapevine had huge increases this year. I protested and got $20k knocked off ours, but if someone just accepted it, they could quite possibly not be able to sell for that amount. This is even more true if the house hasn’t been updated, or has foundation problems.
yes, the tax went up crazy from 2016-2017 in the whole DFW. My factors I believe caused this Houston's storm, relocation California buyers didn't consider Houston anymore, Toyota buyers having others panicking, and the strong job and stock market. However, DFW went up to a % fasters than most areas in th U.S so they have room to correct also.

People are still up a lot if they bought before 2017, time will tell what happens another run up could happen this summer or the opposite when inventory picks up.


https://www.zillow.com/homedetails/4...29233045_zpid/
price - $327K to $299k **pending**
2017 tax $317K


https://www.zillow.com/homedetails/4...29233045_zpid/
price - $399k to $350K
2017 tax $387K


https://www.zillow.com/homedetails/2...54039074_zpid/
price $315k to 285K
2017 tax $280k
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