Fairbanks Alaska - Bucking the 'Zillow' trends...

Jesse...

I like your trend lines, if you flip your screen upside down you will see my area!

Jesse, I find Zillow humorous as well in our state which is a non-disclosure sales price state. Zillow has ranges off $90,000 sometimes from sale prices. You have picked up on the ridiculousness of it all Jesse. It's nice to see a good chart like you have there for Fairbanks and North Pole.

Jesse- Zillow smillow. I do not know how they can rightfully justify their pricing. I checked my own sweet abode the other day and according to Zillow I am down $250,000 in two years. Yikes! I better go hide in a corner and hope my lender doesn't see that. The charts are definitely a great idea and I need to get hopping on them for my area.

Hi Jesse,

An important part of that is "Who bought in the last five years".  There are a lot of folks who have a lot of equity who have owned for a long time.

All the best!

Zillow is way off base for Missouri, another state that does not disclose. In fact, one housing report I just read had Missouri up 4% for the 1st quarter of 2008 over the same time period in 2007.

Had a seller call me 1 year ago when we had their house on the market for $589,000 all upset because Zillow said it was worth $450,000. Told them to trust me as I had seen the house and knew what I was doing.

Sold for $580,000 !!!!

Jessie, as you say, Realtors know their areas. 

JESSE, so Zillow is where I would go to find the facts, not a real estate agent with access to the MLS!!  Makes sense to me (lol).  The media never fails to amaze me!!

Jesse, darling!  Great post.  Zillow is wrong way more than it's right.  Even if in this case the info is true, I am sick to death of all the negative reporting. If anyone in Fairbanks needs a good realtor, they would be remiss not to give you a call, my friend. 

Jesse,

Zillow as the authority, yikes, gimme a break!

At best ,I've said before, it's 50/50, imho. Not sure about others, but that's not good enough for me when I'm making one of the biggest single purchases in my life!  

Just try to tell the IRS you're right 50% of the time, not so sure how that one would work???

Jesse, I hate to be upside down in any loan. But like so many people have replied, I would not trust Zillow as a source...

Zillow, Trulia, great sources to play with and get insight.  Not a be all end all to complete information.  Nice post, thanks for sharing.  JP

Jesse

You are right. Evwery market is different and to get up to the second values talk with a local agent.

Funny, I had buyers look up a house that they wanted to make an offer on.  Zillow said the property was worth $40,000 more than it was listed for, so they thought they were getting a great deal.  Then I said, let me do a CMA because I think the house is over priced.  I was right and they were amazed that the house was really worth about $20,000 LESS than it was listed for using comps.

Zillow means nothing. It's often way off.

However, I like to use the S&P/Case-Shlller charts for comparison. You can find charts online. They are very revealing.

Good news about Fairbanks Jesse.  I am concerned about the whole Zillow situation. Zillow should never be used as a "source of information" for a news story.  It is way to inaccurate.  Many sellers and buyers are trying to use Zillow Fabrications as basis for pricing and offers these days.  It is only adding to an already difficult situation.

I am amazed how often the news and home owners take the information from Zillow as gospel, yet if a newspaper was wrong as often as they are they would be out of the business in less than six months.

Hi there, great post about Zillow, and of course I loved the Bucking ... reference! 

Jesse:  Great post!   I think I need to go over to Zillow and check out what they are saying about Colorado.