Find the value of your home

SearchMaster

Diamond Member
Jun 6, 2002
7,791
114
106
I live in the boonies, but it was putting houses on the map from literally hundreds of miles away. Weird.
 

Ryan

Lifer
Oct 31, 2000
27,519
2
81
It's can't find my home - since it's new. But - some similar townhomes next to me are going for 140K :)
 

mikej007

Golden Member
Jan 23, 2004
1,104
1
0
Zillow is not 100% accurate. They only take into account the appraisal value of the house. If your house hasn't been appraised recently (by the town or whatever), the numbers are totally off. Case in point, my parents' house was last appraised at $130,000 about 12 years ago (the Zillow value) but houses in their neighborhood now go for $350,000+. So the Zillow number is completely useless in this instance. Their house is set to be reappraised by the town (they want more tax money!) so that might change soon, but something to keep in mind...
 

iamwiz82

Lifer
Jan 10, 2001
30,772
13
81
Zillow is completely off in my neighborhood when comparing actual home sales versus Zillow pricing.
 

pclstyle

Platinum Member
Apr 14, 2004
2,364
0
0
Originally posted by: mikej007
Zillow is not 100% accurate. They only take into account the appraisal value of the house. If your house hasn't been appraised recently (by the town or whatever), the numbers are totally off. Case in point, my parents' house was last appraised at $130,000 about 12 years ago (the Zillow value) but houses in their neighborhood now go for $350,000+. So the Zillow number is completely useless in this instance. Their house is set to be reappraised by the town (they want more tax money!) so that might change soon, but something to keep in mind...

:thumbsup: correct.

My parent's home is appraised at $510,000 by Zillow, but it's value has been estimated at closer to $800k by a real estate agency (lillian whateverhername)
 

Feldenak

Lifer
Jan 31, 2003
14,090
2
81
Neat site but my parent's house is wrong. Location, appraisal value, it looks like the only thing it got right was the # of bedrooms.
 

purbeast0

No Lifer
Sep 13, 2001
53,348
6,177
126
considering it is showing the value about 50K short of what a house just sold for accross the street, and it's showing the value for $150K less than the asking price of this one corner house, I would have to say it's pretty damn innacurate.
 

tfinch2

Lifer
Feb 3, 2004
22,114
1
0
Originally posted by: mikej007
Zillow is not 100% accurate. They only take into account the appraisal value of the house. If your house hasn't been appraised recently (by the town or whatever), the numbers are totally off. Case in point, my parents' house was last appraised at $130,000 about 12 years ago (the Zillow value) but houses in their neighborhood now go for $350,000+. So the Zillow number is completely useless in this instance. Their house is set to be reappraised by the town (they want more tax money!) so that might change soon, but something to keep in mind...

Houses are appraised once every 12 years? We get appraised once a year, and that's what you pay property taxes based off of.
 

IronWing

No Lifer
Jul 20, 2001
71,297
30,839
136
Zillow is totally out of whack for my zip code. Unless, of course, my house really did increase in value by $120,000 Nov-Jan but lost $60,000 in the last two weeks.

If you live in a zip code with lots of new construction Zillow won't give good results. Zillow looks at your last sale, assigns your house a percentage against the median price at that time, and then adjusts the value of your house based on the movement of the median sale price for your zip code. In my zip code, most of the new construction has been McMansions so the median price has gone through the roof, pulling up the Zillow values of the more modest houses with it. Now another subdivision in my zip code with more modest houses has reached the mushroom stage pulling the median price back down and thereby sending the Zillow value of my house plunging.

Zillow might work in a built out zip code but not here at the urban frontier.
 

UDT89

Diamond Member
Jul 31, 2001
4,529
0
76
not very accurate, a house sold two down from me for $650k

the site says 335k
 

DrPizza

Administrator Elite Member Goat Whisperer
Mar 5, 2001
49,601
166
111
www.slatebrookfarm.com
Did my neighborhood, not even close (60+% error on two homes)
Did my father's neighborhood, not much better... the townhouses in his subdivision are selling for nearly double what that site says.
 

KarenMarie

Elite Member
Sep 20, 2003
14,372
6
81
that info in my area is really outdated. the property values here have more than doubled since they entered that info.
 

Fritzo

Lifer
Jan 3, 2001
41,916
2,156
126
I think the info is REALLY outdated or incorrect in my neighborhood. The home values are $100K off :(