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re: Zillow House value is trending down wth
Posted on 8/26/18 at 10:29 pm to Jyrdis
Posted on 8/26/18 at 10:29 pm to Jyrdis
The easiest path towards making folks understand you think about your real estate investment without really understanding real estate is to post about Zillow having any basis in reality when it comes to your real estate investment.
You wanna know about your home’s value? Call a local appraiser.
Oh and before anyone suggests it, avoid a realtor. An appraiser does exactly what you’re interested in. For a living.
You wanna know about your home’s value? Call a local appraiser.
Oh and before anyone suggests it, avoid a realtor. An appraiser does exactly what you’re interested in. For a living.
Posted on 8/27/18 at 11:53 am to GFunk
quote:
The easiest path towards making folks understand you think about your real estate investment without really understanding real estate is to post about Zillow having any basis in reality when it comes to your real estate investment.
My friend is an appraiser and he says Zillow is fairly accurate assuming you have sales in your area, and there isn't anything peculiar about the house / location.
But to OP, I wouldn't worry too much about it unless you are about to sell.
Posted on 8/27/18 at 4:04 pm to GFunk
quote:
You wanna know about your home’s value? Call a local appraiser.
I know you know what you are talking about, but this is simply wrong. Appraisers don't know every community well. The only way to really know a homes value is by selling it. I've seen appraisals off just as much as Zillow. Appraisers and Zillow both follow the current selling trend, whether thats up or down. But they don't plan the market. If its going up, your house could be worth quite a bit more in a hot market than one that sold 3 months ago.
Appraising/ Zillow/ etc. is not rocket science people. You take what homes have sold for in your area and divide it by sq ft, then you multiply that number by your own sq ft.
Where the kicker comes in, is small things that no one accounts for. My old neighborhood had Golf course lots, water front lots, interior lots with nothing but neighbors, and easement lots with woods. All of them had different values. Some houses have 1 garage some have 4, none of which is considered by zillow or an appraiser enough.
Even things like time of year. If you are selling your house in late fall or winter and no homes have sold since peak sales season in Summer, than there may be fewer buyers on average so your realistic price over the off season is likely lower.
This post was edited on 8/27/18 at 4:06 pm
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