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So, What Is Your House Worth?

By
Real Estate Agent with JOD Realty, LLC

Just for fun I went to Zillow.com to see what they said my house was worth.  OUCH!!!!

According to Zillow, from the high two years ago my house has now dropped 22% in value, most of that drop coming in the last ten months.  This puts me very close to the “under water”  mark.  (You know, where you owe more on your house than it is worth!)

Honestly, I think it is worth a bit more than Zillow estimates, but then, I know the market since I live here.  Still, it is interesting to see  what Zillow thinks.

Then I checked Yahoo’s site.   Yep, worth about the some, according to them.

The point? If you want a quick and dirty value on your house, check these sites out.  No hassle or pressure.

Just remember, even though your house may be way down in value, so is everyone elses’!

Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

The problems with any online home value offered is that potential buyers will look to those, as they are favorable to their offers, and believe that that should be their purchase price. Price is determined by value and should always be compared to recent sales with appropriate adjustments for exceptional considerations and individual situations. Zillow's track record was 33% right, which is not all that good unless you are a professional baseball player.

Nov 30, 2009 02:03 AM
Jerry O'Donnell
JOD Realty, LLC - Chapel Hill, NC

Sure, a good local real estate agent can educate a seller pretty quickly with more accurate comps.  But, I think places like Zillow and Yahoo are fine for quick and dirty values.  Plus, let's face it, they are fun to look at.  Ever look up your friends' houses?  People are going to these places anyway.  Might as well know what they are looking at.

Nov 30, 2009 02:33 AM