Yikes! Are You Relying on Zillow.com?

By
Mortgage and Lending with Stearns NMLS #232164 CA BRE #01380812 BRE 01380812 NMLS 232164

How much is my house worth?

Many people wondering just that have come to accept Zillow.com's "Zestimates" as accurate, and the site even claims 90% accuracy for the San Francisco Bay Area.

Our video tells another story!

Feel free to pass this along to anyone who might be involved in a real estate transaction*.

Before they say "Uh, Oh.....I believed Zillow!"

  

*Click the little envelope below to share this video.  

If you don't see the video, go here:

 

:

https://www.thinkbigworksmall.com/public/showArchiveVideo/833/569

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Rainmaker
218,982
Mark Organek
And the United States of America - Mesa, AZ
It's not a game, it's your life.
Mary, it's probably in the top 5 because of all of the loan officers using it to check comp values on properties of refinance clients.  I used to work in an office where 5 to 10 people were constantly checking value on zillow.com.  I used it when the market was rising but when sales slowed down... it would be off by 30% or more in overestimating value.  If you put garbage in, you get garbage out.  There just isn't enough transactions to be accurate anymore.
Mar 10, 2008 07:29 PM #1
Rainmaker
369,290
Miriam Bernstein, CRS
Rochester, NY
Mary, why dont you post the video for all of us to see?
Mar 10, 2008 10:22 PM #2
Ambassador
1,212,640
Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Central Maryland

Their info is pretty darn good. Even my neighbors didn't know I had put in a third full bathroom.

I would like to see the video too.

Mar 10, 2008 10:48 PM #3
Rainmaker
59,789
Sandra Workman
Keller Williams Preferred Realty - Kankakee, IL
BBA, Broker, CRS, GRI, ABR, SFR, CNE, ePRO, CNHS
Would like to see this.  For one of my listings, the zestimate includes properties 1/2 hour away!
Mar 10, 2008 11:23 PM #4
Rainmaker
53,782
Mary Anne S. Daly
Stearns NMLS #232164 CA BRE #01380812 - Mill Valley, CA
Queen of the Loan & Radio Broadcaster
Ellie, Zillow gets their date from county records, so if your work was done with permits (which it sounds like it was) Zillow would pick that up.  
Mar 11, 2008 06:46 AM #5
Rainer
5,132
Frank Garay
Think Big Work Small - Fairfield, CA
Think Big Work Small
Nice post!  Very informative.
Mar 19, 2008 07:42 AM #6
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Rainmaker
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Mary Anne S. Daly

Queen of the Loan & Radio Broadcaster
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