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Gad Zzzooks those Scoundrels!

By Lyn Sims

Real Estate Agent

May 09, 2011 01:11 AM

zillow,zestimates, We all know and think fondly when we see this house don't we? Yes, it's the 'Home Alone' House and it's currently for sale in the Chicago Suburb of Winnetka.

$2,175,000 for the 1920's stately brick colonial offering 5BR's 3.5BA's and a total of 4,243 square feet. The house is so wonderful to us we can call it our own - I can picture myself sliding down the banister to the front door. Gosh, if we only had that down payment!

Suddenly all nostalgia is ripped from me! I am stunned because I see a real 'mood spoiler' pop up on a Google search a few days after first seeing that initial TV spot. Gad zzzzzooooks can it be true? I can't even bring myself to let the nasty 'Z' word flow from my lips!

They've done a Zestimate on Kevin's House!

Zillow,Zestimates,

Yes ..... and what do you think happened? It's frickin' $1,000,000 off the current listing price!

That's a tad more than the usual 20 to 30% they usually tell us right?

Can't you just hear Kevin screaming?

API Photos/MSNBC/WMAQ/FOX

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Pocono Luxury Homes The Jeff Rickert Team

RE/MAX Property Specialists - Pocono Lake, PA

Poconos Luxury Homes

Thanks for the post.

Good luck in your area.

May 09, 2011 01:12 AM

Judy Klem

Transition Stage LLC - Shelton, CT

Home Staging, Senior Move Management, Fairfield/New Haven counties

Hi Lyn - Whoa - just a bit off on that price! I love it that you included the photo of Macauley Culkin in his characteristic pose to emphasize your point!

May 09, 2011 01:17 AM

Glenn Roberts

Retired - Seattle, WA

I guess the Zestimate doesn't account for historical value. Perhaps they haven't been inside the house either. Ha.

May 09, 2011 01:23 AM

Lyn Sims

Schaumburg, IL

Real Estate Broker Retired

Glenn: I'm sure we will find out soon enough.

Judy: I'd be screaming if it was my house! That's why I didn't include the address of the house so the google bots wouldn't pick it up.

Hmmm, I'm still deciding if I'll delete comment #1????

May 09, 2011 01:28 AM

Liz and Bill Spear

Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH

Transaction Alliance Cincinnati & Dayton suburbs

Lyn, What's a cool mil between friends? So is it overpriced, or is Z totally whacked? For our area, $500 per ft2 is just unheard of :)

May 09, 2011 01:32 AM

Peggy Chirico

Prudential CT Realty - Manchester, CT

REALTOR® 860-748-8900, Hartford & Tolland County Real Estate

What a house! I didn't realize it was in Winnetka! Zillow has created similar problems (though not $1M!) for me--it's so exasperating!

May 09, 2011 01:33 AM

Lyn Sims

Schaumburg, IL

Real Estate Broker Retired

BLiz: We shall see! I still say a computer can't do a worthy market evaluation.

Peggy: Yep, it's a wonderful house & I'm sure there's some celebrity historic value in there but 1M off? Ferris Buehler's house is also nearby & that didn't fare well on the market.

May 09, 2011 01:39 AM

John Mulkey

TheHousingGuru.com - Waleska, GA

Housing Guru

Lyn - Sounds as if the "Zestimate" may be a bit skewed. And it's strange since they're usually so accurate : )

May 09, 2011 02:05 AM

Irene Kennedy Realtor® in Northwestern NJ

Weichert - Lopatcong, NJ

Lyn,

Sounds to me like another case of thieves at this property! Do Zillow employees wear masks?

May 09, 2011 02:31 AM

Dr. Paula McDonald

Beam & Branch Realty - Granbury, TX

Granbury, TX 936-203-0279

OMG - love the picture of Kevin screaming. The Z factor needs to go away.

May 09, 2011 02:31 AM

William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

All these off shoot web sites that claim to help the consumer has only hurt them. People think that if they find it on the computer it is gospel.

May 09, 2011 03:59 AM

Chris Ann Cleland

Long and Foster Real Estate - Gainesville, VA

Associate Broker, Bristow, VA

Zestimates are worthless. Completely and totally worthless. If this doesn't prove it, what does. I supoose the wonderful folks at Zillow will tell us that the margin of error increases when the home values increase.

May 09, 2011 04:54 AM

Carla Muss-Jacobs, RETIRED

RETIRED / State License is Inactive - Portland, OR

Gadzillow!! That's hilarious Lyn!! Maybe Kevin needs to "update" the records?!?

May 09, 2011 05:22 AM

Lyn Sims

Schaumburg, IL

Real Estate Broker Retired

John: Yeah, sure, uhh huh.

Irene: Possibly. If I was the seller I wouldn't be too happy about now.

Paula: So much for that accurate algorithm of theirs.

Carla: I'm sure that if I had a mirror when I first saw the number my face looked just like Kevin's. You can't make this stuff up.

Chris Ann: Never thought of that one, possibly they will stop in & give us an excuse here.

May 09, 2011 05:31 AM

Brad Andersohn

Retired Executive Director of Education at eXp - Boulder Creek, CA

ActiveBrad - 707.646.1876

Love the house, loved the movie, and I love putting a different perspective on this Lyn.

We're finding now that there's a majority of listing and selling agents out there that get how it all works and know how to work with the local consumers regarding Zillow data and local market values. We know and they know that Zillow is not a replacement for a good local agent or appraiser. It's a starting point just like WebMd.

Unfortunately, there will always be some agents out there who just don't get it.

BTW - the rumor I hear is that this home was listed with the agent because of (and thanks to) the Nasty "Z" ... hmmm, imagine that? :-))

May 09, 2011 07:16 AM

Lyn Sims

Schaumburg, IL

Real Estate Broker Retired

Brad: Can't verify that tie of 'Z' from the listing agent. She did a great job with all the local media last week & got the home spectacular coverage. I wish her well with it.

May 09, 2011 08:50 AM

Cindy Marchant

Keller Williams Indy NE 317-290-7775 www.marchantteam.com - Carmel, IN

"Cindy in Indy" , Realtor, Fishers Real Estate

I have seen #1 around a lot with various similar comments...I even sent them a note and said, "don't do that"...

Anyway to the point of the post...I get so tired of people using Zillow for their information...or their best friends...or their co-workers...why don't they just listen to us!

I feel a blog post coming on...lol

Very cool however to have a house like that for sale where you could possibly drive by it! Can't remember for sure how far Schaumburg is...but know you are northwest of Chicago.

May 10, 2011 09:57 AM

Lyn Sims

Schaumburg, IL

Real Estate Broker Retired

Cindy: It is a very nice house with a great background with the family values movie. It's a shame that the 'Z' decided to cut the value on the house when they've never been in it. It's not right & it happens all the time. This is just an exagerated case at the 1M mark.

May 10, 2011 11:14 AM

Lyn Sims

Schaumburg, IL

Real Estate Broker Retired

6/14/2011 - Updated price of Kevin's old house is now 2,175,000 down from $2,400,000.

Jun 14, 2011 10:05 AM