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.

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Posted by GFunk

Denham Springs

Member since Feb 2011

14966 posts

Posted on 8/27/18 at 2:16 pm to brian_wilson

quote:
brian_wilson

quote:
My friend is an appraiser.

Well hey...That seals it for me. Best of luck to you. I disagree and we can leave it at that.

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Posted by NC_Tigah

Carolinas

Member since Sep 2003

124202 posts

Posted on 8/27/18 at 6:56 pm to brian_wilson

quote:
My friend is an appraiser and he says Zillow is fairly accurate assuming you have sales in your area

Your friend is correct. The thread is interesting. Realtor.com may or may not be "more" accurate than Zillow, but they seem to use similar models. It's a bit like analysts "buy ratings". Sometimes they are dead on. Sometimes they miss by a mile.

Same with appraisers.

CSB: We refinanced one of our homes several years back. The refi appraisal came in very low. Didn't matter as a principle was covered. Loan rate was very good. So we just took it. Two months later MrTaxMan gave us his own property value re-eval, and his own reappraisal. There was a $600K difference between the loan appraisal and tax appraisal!

Suffice it to say, we had some fun at expense of the government on that particular tax reappraisal.

Both realtor and zillow were more accurate than either human appraisal though.

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