Why are Zillow house value estimates so volatile and often wrong?

Why are Zillow house value estimates so volatile and often wrong?
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1 Answer

Answer :

A simple google search turned up this article from the Washington Post-worth a look IMO.
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Related questions

How accurate is Zillow for house values?

Description : How accurate is Zillow for house values?

Last Answer : It may depend on how fast the market moves in your area. Where I live it’s dead on.

How would I go about finding out the approximate value of a house in a certain neighborhood or community many years ago?

Description : How would I go about finding out the approximate value of a house in a certain neighborhood or community many years ago?

Last Answer : In West Virginia, our property tax records are online, but I’m certain they don’t go back that far. I’d guess your best bet is calling the property tax people in the area and see what they can find (or suggest).

What happens when a house is sold "as is"--with all the stuff in it?

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Do I need a realtor to buy a house with cash?

Description : Do I need a realtor to buy a house with cash?

Last Answer : Get an agent unless you negotiate high dollar real estate for a business.

I sold my house, now what?

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Last Answer : Is there enough in your budget to rent an RV or mobile of some sort to live in on-site until new place is safe enough for family?

Who was in my house today?

Description : Who was in my house today?

Last Answer : I don't know about far fetched, but you should try to fix in your head the girl who entered your house for comparison with the realtor when you meet her. And it is possible, but not likely that a ... this woman appeared at a time so close to the set appointment. Yeah it's a bit far fetched paranoia.

Should I sell my trashed rental house to a "flipper".

Description : Should I sell my trashed rental house to a "flipper".

Last Answer : If you stand to make a profit on the trashed house, then why not? It’s not really any concern of yours whether they flip it or not. Just don’t be in a position of losing money.

Which is the best first home? Apartment, town house, or house?

Description : Which is the best first home? Apartment, town house, or house?

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Renters over 30, what is holding you back from buying a house?

Description : Renters over 30, what is holding you back from buying a house?

Last Answer : I couldn’t clean a large house every day.

How much is the "house take" on commissions a Realtor makes?

Description : How much is the "house take" on commissions a Realtor makes?

Last Answer : Does this help you? http://www.realtor.com/advice/real-estate-commission-explained/

Has it become dangerous for a female real estate agent to show a man a house ?

Description : Has it become dangerous for a female real estate agent to show a man a house ?

Last Answer : One murder does not a trend make. If you want to run your life on fear you can but it’s a lousy way to live.

What are some questions to ask the real estate agent when you go to look at a house that's for sale?

Description : What are some questions to ask the real estate agent when you go to look at a house that's for sale?

Last Answer : answer:Check info for the address on zillow.com . It is not always perfect but it is usually close. Print out a copyu so you have it with you and keep it in a folder. (It will hint that ... are big ones. Tell him you will have an engineering inspection if you are interested. Exciting times. :-)

Tell me in your opinion what you think of this house? (see details)

Description : Tell me in your opinion what you think of this house? (see details)

Last Answer : That is fucking horrid. I hate it. Sorry, I like things that fit their environment. That doesn’t!

I want to claim water damage from a leak in my house. I've heard this is a red flag for ever selling your house. Is this true?

Description : I want to claim water damage from a leak in my house. I've heard this is a red flag for ever selling your house. Is this true?

Last Answer : answer:It does have to get disclosed. even if it is fully repaired, etc., it has to be disclosed. It’s only an issue when buyers can be picky. In Northern California right now it would be ignored as long as the dry rot inspection cleared with no concerns.

Will you share with me your favorite house floor plans?

Description : Will you share with me your favorite house floor plans?

Last Answer : Well, if you inSIST :)

Can you describe a house you have seen and really liked?

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Last Answer : I have liked many of my houses, but my favorite house is in my mind. It has a huge screened in back patio, preferbly with a pool. Three bedrooms, each with its own bathroom and decent sized closets. ... and bedroom. The main house is about 3,000-3,200 living space, and the guess house around 600-700

Can I ask my tenant to clean the house?

Description : Can I ask my tenant to clean the house?

Last Answer : What does the lease say? Most I have signed required the housing to be a “clean” and “safe”, maintained by the tenant.

I'd like to go out with the guy who sold my house when my husband and I divorced. How can I approach this man in an appropriate manner?

Description : I'd like to go out with the guy who sold my house when my husband and I divorced. How can I approach this man in an appropriate manner?

Last Answer : answer:I wouldn't. When you met him you were in a dither, and I suspect your feelings for him now are a holdover from that time. I doubt highly that he's the only nice guy out there that you could ... be open-minded is your own intuition telling you this isn't a good idea and you want to ignore it.

When buying a house, who should make sure you get a Home Inspection?

Description : When buying a house, who should make sure you get a Home Inspection?

Last Answer : answer:The buyer is responsible. On our mortgages, the lender did require a home inspection as part of the paperwork, but we had to pay for it. If the home had failed the inspection in some major ... inspection and take a camera and paper with you so you can take pictures and notes along the way.

If you want to buy a new house or condo, can't you just say you want to buy it now instead of bidding on it?

Description : If you want to buy a new house or condo, can't you just say you want to buy it now instead of bidding on it?

Last Answer : No. They have to go through certain procedures for REO sales.

Is it "customary practice when selling a house that has tenants" to have a lawyer send a letter of eviction to the tenants?

Description : Is it "customary practice when selling a house that has tenants" to have a lawyer send a letter of eviction to the tenants?

Last Answer : In New York a new purchaser must prove to a housing court that he or she needs the space for his or her own family. You can tie them up for years.

How does a realtor get commission if the house you decide to buy is not his/her listing? Or do they get one at all?

Description : How does a realtor get commission if the house you decide to buy is not his/her listing? Or do they get one at all?

Last Answer : There are two realtors—the listing agent (selling the house) and the buying agent (your agent). They split the commission on the house sale. However, when the listing and buying agent is the same agent, you can oftentime get a little bit of a deal.

Should I buy a condo or house?

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Last Answer : Do you want to do yard care and shovel snow? Are there added perks like a pool or gym - that you would use? Those attract me to condos, but my husband refuses because he doesn't want any shared walls and ... yard with the privacy of a fence. Make a pros and cons list. (God, I sound like my mother.)

Do you enjoy watching house flippers fail miserably on shows like Property Ladder?

Description : Do you enjoy watching house flippers fail miserably on shows like Property Ladder?

Last Answer : I watched Flip That House once, and this really annoying lady was on it. She was constantly complaining and she had no idea what she was doing. By the end of the show she still hadn’t sold the house; I couldn’t help but feel kind of happy. lurve for schadenfreude

Is it worth looking into a foreclosure house if you don't have good credit ?

Description : Is it worth looking into a foreclosure house if you don't have good credit ?

Last Answer : If your lease is up at the end of August, you're probably too late to find a house to move into by September 1st. If everything goes perfectly smoothly and as quickly as possible, it still takes a ... at least 3.5% down, though - the days of no-money-down home loans ended with the credit crunch.

I'm a first time home buyer looking for a house. I had my agent set up a showing for a home this weekend only to find that the price of the home has suddenly jumped $5000 today! What happened? Is this shady business or is there a logical explanation?

Description : I'm a first time home buyer looking for a house. I had my agent set up a showing for a home this weekend only to find that the price of the home has suddenly jumped $5000 today! What happened? Is this shady business or is there a logical explanation?

Last Answer : Shady business in the housing market? It’s a frequent thing these days. That does sound fishy. Prices are all going down not up. I’d say drop your bid $6000 and let them know it’s a down market.

Should I sell my mother's house now?

Description : Should I sell my mother's house now?

Last Answer : If I were you I would go ahead and put it on the market but not be in a hurry to sell. I’d wait for a fair offer and tell your mother only the details she needs to know when the time comes to actually sign papers.

How much should it cost per square foot to build a house?

Description : How much should it cost per square foot to build a house?

Last Answer : answer:Most of the variation is going to be in finishes-- you could spend anywhere from 50-400/sf just in finishes. You're really going to have to have some contractors look at the work and give you some bids. If you can get 3 bids, you should have a good idea of where the market is.

In today's Real Estate market what percentage under the seller's asking price would be reasonable to consider knocking off when making an offer on a house?

Description : In today's Real Estate market what percentage under the seller's asking price would be reasonable to consider knocking off when making an offer on a house?

Last Answer : answer:Largely depends on where you are—in California the question is “What should you offer over the asking price”, since the asking price is considered (even in this market) a minimum-bid. So, Twocatkitten, where do you hail from?

When should I buy a house in Portland, Oregon?

Description : When should I buy a house in Portland, Oregon?

Last Answer : answer:check out boards that specialize in this is my suggestion Saturday, November 3, 2007 NOW is the best time to buy has some great blog links too http://portlandhousing.blogspot.com ... . Why is Christmas Day so attractive http://homebuying.about.com/od/buyingahome/qt/BestDay2BuyHome.htm

I'm planing on buying a house next summer. How much should I save each paycheck biweekly?

Description : I'm planing on buying a house next summer. How much should I save each paycheck biweekly?

Last Answer : answer:As much as you can. Look at house prices in your area. The closer you can get to putting 20% down, the better off you’ll be—the less trouble you’ll have getting a mortgage and the fewer other annoyances you’ll have to deal with.

Minimum salary to buy a house and not get laughed at by the bank?

Description : Minimum salary to buy a house and not get laughed at by the bank?

Last Answer : they might laugh if you just make minimum wage, who cares if they laugh at you anyway? They work at a bank, they are not millionaires.

Is it cheaper or more expensive to have a house built?

Description : Is it cheaper or more expensive to have a house built?

Last Answer : In guess in theory it can often be cheaper, but a lack of experience could be the factor that drives up costs. Dealing with builders, managing site activity and knowing your way around legalities ... them before. Not to mention that it could become particularly stressful because it's your own house.

In what town in Maryland did Michael Phelps buy a house?

Description : In what town in Maryland did Michael Phelps buy a house?

Last Answer : In Fells Point. don’t know the rest

How do you buy a house that is for sale by owner?

Description : How do you buy a house that is for sale by owner?

Last Answer : How To Buy Homes For Sale By Owner

What is the difference between a property assessment value and selling price?

Description : What is the difference between a property assessment value and selling price?

Last Answer : Some jurisdictions use a percentage of presumed market value for the assessed value, while others base tax on the full market price.

How to get a mortgage when the appraisal says too much value is in the land?

Description : How to get a mortgage when the appraisal says too much value is in the land?

Last Answer : Hire another really nice appraiser? I know it sounds silly.. but maybe given an idea of what your looking for in the appraisal….

Property Value Notice?

Description : Property Value Notice?

Last Answer : answer:Official property assessor reassess property on his turf regularly. If houses comparable to yours have been bought or sold recently at a value higher than what you paid, OA has the right to raise ... pay property and school taxes yearly. All assessors have a little "wiggle room," as do you.

Are closings usually so anticlimactic?

Description : Are closings usually so anticlimactic?

Last Answer : Pretty much

If Los Angeles is so horrible, why is housing expensive?

Description : If Los Angeles is so horrible, why is housing expensive?

Last Answer : Are you kidding? LA is great.

Why did the real estate market bubble so high in SoCal, NV, and FL and not so high in TX, CO, IL?

Description : Why did the real estate market bubble so high in SoCal, NV, and FL and not so high in TX, CO, IL?

Last Answer : answer:Because FL and NV especially had a lot of investors buying property. No one was living in a lot of the places, they were second homes and homes purchased to flip or rent. So, what that ... exactly how everything happened in that market though. Maybe they had a lot of job losses? Not sure.

Have any jellies done a 1031 Exchange of real estate?

Description : Have any jellies done a 1031 Exchange of real estate?

Last Answer : Over the years, I've handled dozens of like-kind exchanges. I'll tell you two things: First, you don't want to get sophisticated tax advice from an online message board. Sec. 1031 transactions are ... 't sell your land, on your own, thinking that you can roll over the gain into another property.

How much is this home repair going to set me back?

Description : How much is this home repair going to set me back?

Last Answer : Yes, it cannot go directly into the sewer, and that is something that usually comes up during billing season, or during a buy/ sell experience. In our city, we've had higher bills than go through the ... much, pvc is fairly cheap, your husband may be able to do it himself (depends on the inspector.)

Can you build an addition off a mobile home?

Description : Can you build an addition off a mobile home?

Last Answer : Is it on wheels or does it have mounts underneath for wheels ? If so it is a mobile home. I would not put an addition on except a porch or deck. Building code may not let you, find that out first ... money and find out can't add on. Living in the trailer while you build a new house would make sense.

How do rent to own properties work?

Description : How do rent to own properties work?

Last Answer : Poorly. Way too easy to be ripped off. Both for you as the seller and also the renter. You need an excellent real estate lawyer. Not just a decent one.

How much does staging a home matter to buyers?

Description : How much does staging a home matter to buyers?

Last Answer : Realtors will tell you that it's imperative to show potential buyers how great your house can look. Personally, I prefer to see it empty so I can visualize how great it's going to look with MY stuff ... exactly what I need nor should it be both of us making sure the realtor gets their commission!!!

What is really going on with this cash offer?

Description : What is really going on with this cash offer?

Last Answer : Sounds fraudulent to me. You are correct to be suspicious.

Is this home buyer scamming me?

Description : Is this home buyer scamming me?

Last Answer : I have never once sold a house (only bought one once), but with matters like these, which concern large amounts of money, I would definitely hold them off until you do get hold of your realtor. I ... someone that offers to pay cash for such thing as my house: What could possibly go wrong? Lots.

In what ways could this situation fail?

Description : In what ways could this situation fail?

Last Answer : It can work out. We did something similar a couple of years ago; the only difference was our mortgage was already paid off. We looked for a new home at the same time we were selling our existing one. ... worked out. We bought the new one with the proceeds from the old, no mortgage so we were happy.

For those of you who enjoy home improvement shows, or who dabble in interior design, what trends do you like, and which ones do you dislike?

Description : For those of you who enjoy home improvement shows, or who dabble in interior design, what trends do you like, and which ones do you dislike?

Last Answer : I hate thin glass tables, chairs with thin wire legs, in general furniture that looks blocky and uncomfortable and I especially hate those horrible Barcelona chairs.