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Old 02-27-2012, 10:55 AM
 
150 posts, read 306,330 times
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I noticed on zillow that homes selling for like $700,000 are dropping in value for example, around $200,000. What is the housing market like right now in and around Houston? I see at least several for sale signs go up in my neighborhood. I am watching closely since I purchased my home a year ago.
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Old 02-27-2012, 11:23 AM
 
4,246 posts, read 12,034,512 times
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I couldn't afford the taxes alone on something like that in Texas.
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Old 02-27-2012, 11:24 AM
 
Location: Houston area
1,408 posts, read 4,056,880 times
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Don't trust Zillow for estimates. Texas is a non-disclosure state so it's almost impossible for Zillow to have the correct sales price of comparable homes.

Some areas are doing much better than others. It just depends on your area and neighborhood. Where do you live?
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Old 02-27-2012, 12:58 PM
 
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Zillow always lists home $25k to 50k less than they are really worth my house is listed on Zillow for $240k when it is worth more like $265k to $270k
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Old 02-27-2012, 01:05 PM
 
Location: Charleston Sc and Western NC
9,273 posts, read 26,514,595 times
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Quote:
Originally Posted by DJboutit View Post
Zillow always lists home $25k to 50k less than they are really worth my house is listed on Zillow for $240k when it is worth more like $265k to $270k
I've seen plenty of cases where Zillow listed home values over 250k less that what they are selling for, or even that much less than their HCAD tax/market values. I have no clue why they are so off, as they also have recent sales and homes for sale in the same neighborhoods.

Really, HAR.COM's Home value search is more accurate on higher end listings, even with their "range value" quotes.
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Old 02-27-2012, 02:04 PM
 
Location: Houston area
1,408 posts, read 4,056,880 times
Reputation: 639
Quote:
Originally Posted by EasilyAmused View Post
I've seen plenty of cases where Zillow listed home values over 250k less that what they are selling for, or even that much less than their HCAD tax/market values. I have no clue why they are so off, as they also have recent sales and homes for sale in the same neighborhoods.

Really, HAR.COM's Home value search is more accurate on higher end listings, even with their "range value" quotes.
Definitely! The higher the value, the more Zillow will be off with true market value. I can't speak for other states though.
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