- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Zillow House value is trending down wth
Posted on 8/26/18 at 6:26 pm
Posted on 8/26/18 at 6:26 pm
So we bought our home here in the Dallas area two years ago for around 385k. It’s in an older neighborhood surrounded by other neighborhoods with multimillion dollar homes. It was increasing in value and last year we could probably sell it for between 410k and 420k. I took a look today on Zillow and over the past 90 days zillows estimated home value has dropped to 349k. Wth. Should I freak out, ie this is a market correction or should I calm down?
10
Posted on 8/26/18 at 6:30 pm to lsufanintexas
zillow;dr
Posted on 8/26/18 at 6:32 pm to lsufanintexas
If you're not selling it it's just a paper loss.
The perfect scenario with Texas property taxes would be to have a tank in value, then a massive upswing 20 years from now right before I sell
The perfect scenario with Texas property taxes would be to have a tank in value, then a massive upswing 20 years from now right before I sell
This post was edited on 8/26/18 at 6:34 pm
Posted on 8/26/18 at 6:40 pm to lsufanintexas
If you are not planning on selling anytime soon why freak out? Zillow is only a pricing estimate not an absolute science.
Home prices don't always go up and the appreciation seen in Dallas the last 7 years is not sustainable.
I also live in Dallas. Population projections for this area are still expected to grow significantly through 2025. As such, demand for housing will be there which should keep home prices relatively stable at the very least.
When it comes to housing, stocks, and bonds there are no guarantees.
Home prices don't always go up and the appreciation seen in Dallas the last 7 years is not sustainable.
I also live in Dallas. Population projections for this area are still expected to grow significantly through 2025. As such, demand for housing will be there which should keep home prices relatively stable at the very least.
When it comes to housing, stocks, and bonds there are no guarantees.
Posted on 8/26/18 at 7:32 pm to lsufanintexas
First its Zillow. Don't get too worked up. What area of Dallas?
Posted on 8/26/18 at 7:59 pm to lsufanintexas
Look at comps in your neighborhood and adjust the price per sq ft to your house. That's way more accurate than Zillow.
Posted on 8/26/18 at 9:56 pm to lsufanintexas
I’ve always found that people that people way overvalue their homes. They think fresh paint is worth and extra $5k.
Posted on 8/26/18 at 10:28 pm to lsufanintexas
Lol at Zillow.
Says the first house I owned and sold is worth about 30% over appraisal.
Second house has the “zestimate” at $125,000 less than it sold for (at appraisal value) earlier this year.
Current house has a “zestimate” of $95,000 below appraisal that was done 6 weeks ago.
Says the first house I owned and sold is worth about 30% over appraisal.
Second house has the “zestimate” at $125,000 less than it sold for (at appraisal value) earlier this year.
Current house has a “zestimate” of $95,000 below appraisal that was done 6 weeks ago.
Posted on 8/27/18 at 2:51 pm to lsufanintexas
Might as well sell it for 349k and cut your zlosses
Posted on 8/28/18 at 7:28 am to lsufanintexas
I have a few friends in real estate.
At least here in Tampa, they say new permits for construction have slowed significantly. Appraisals are down 5-10% from last year. Home prices have leveled off and in many cases are going down. Particularly in the $250K and up segment. They also say homes are taking longer to sell. By that they said a home that literally would get an offer the day it was listed only a year ago typically stays on the market for 7-10 days now. Still not bad.
They don’t sound too doom and gloom; but, all say there’s a correction coming or that has already started. They fear another interest rate hike will really make things tough.
At least here in Tampa, they say new permits for construction have slowed significantly. Appraisals are down 5-10% from last year. Home prices have leveled off and in many cases are going down. Particularly in the $250K and up segment. They also say homes are taking longer to sell. By that they said a home that literally would get an offer the day it was listed only a year ago typically stays on the market for 7-10 days now. Still not bad.
They don’t sound too doom and gloom; but, all say there’s a correction coming or that has already started. They fear another interest rate hike will really make things tough.
This post was edited on 8/28/18 at 7:30 am
Posted on 8/30/18 at 12:21 pm to lsufanintexas
Everyone here is being such a bitch.
"Zestimate" = "Zillow Estimate"
Not intended to be an actual appraised value, but a reasonable computer-generated estimate based on many factors.
"Zestimate" = "Zillow Estimate"
Not intended to be an actual appraised value, but a reasonable computer-generated estimate based on many factors.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News