Zillow is Stupid - 02/07/08 10:34 PM
I was just plugging in addresses for fun to see what Zillow's Zestimate is.  According to the Great Zillow, one property that just sold for $70,000 is worth $176,000.  Another one listed at $159,000 is worth $246,000, and another one that was listed at $242,900 and has sold and closed, is currently listed for $276,000 according to Z.  Not so bright, huh.
Any professional knows that you can't rely on a computer program for an accurate property value.  But not all of the general public knows this, and in fact some otherwise bright young techies think the website is smarter and more … (5 comments)

The Case Against Case (Shiller) - 02/07/08 09:53 PM
The Standard & Poor's/Case Shiller Index was released Tuesday, January 29th, showing an 8.4% drop in real estate prices in November, 2007 from November 2006.  Case Shiller is a highly reported index that is alleged to be more accurate than the statistics provided by the Realtor associations.
The argument is that the Realtors report the average or median price of all sales from one year to the next, which is a different group of homes each year.  Case Shiller only uses cases where the same home has sold twice, using the apples vs. apples argument.  There is logic to this argument, but … (2 comments)

 
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Pat Paulson, Realtor Minneapolis, Minnesota

Minneapolis, MN

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