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Replies (5)
Katie,
Zillow is a great research tool but all real estate is local. This means that the best way to acquire and transact real estate is through a local Realtor. Studies have shown up to 20% inaccuracy of online information. Make sure you have a local agent working for you and you can do it all from anywhere. I have help clients in many states and countries purchase local property without them ever buying a plane ticket.
Shawn
Shawn
- Pasadenan
- Contributions:21458
Studies have shown that NAR data and talking points given by Realtors® is more that 20% "inaccurate" and often just plain fraudulent!
Zillow provides more "local data" than any "agent" ever could.
The "local info" pages are "excellent"!
The home search "keywords" filter helps find what one is looking for.
What is now missing is the ability to see both the list price and Zestimate, as well as the Rent Zestimate in a "list form" table search results for quick and easy comparison. It was there, (but not the Rent Zestimate), but Zillow removed it over a month ago...
Using the %high for the Zestimate (compared to list) made it extremely easy to find "fixers" quickly.
And using the %low for the Zestimate made it easy to find properties recently renovated.
And using the ratio of Rent Zestimate to Zestimate made it quicker to filter for possible return on investment on potential rental properties. A more direct comparison is available on the Home-Details pages using the "mortgage payment" to Rent Zestimate; but there is a "defect" on the "mortgage payment" calculator as it doesn't factor in mortgage insurance for low down-payment, and doesn't factor in premiums for interest rate for bad credit or other "conditions".
(As for "interviews"; only in this public forum; but they may quote me as long as I remain anonymous).
Zillow provides more "local data" than any "agent" ever could.
The "local info" pages are "excellent"!
The home search "keywords" filter helps find what one is looking for.
What is now missing is the ability to see both the list price and Zestimate, as well as the Rent Zestimate in a "list form" table search results for quick and easy comparison. It was there, (but not the Rent Zestimate), but Zillow removed it over a month ago...
Using the %high for the Zestimate (compared to list) made it extremely easy to find "fixers" quickly.
And using the %low for the Zestimate made it easy to find properties recently renovated.
And using the ratio of Rent Zestimate to Zestimate made it quicker to filter for possible return on investment on potential rental properties. A more direct comparison is available on the Home-Details pages using the "mortgage payment" to Rent Zestimate; but there is a "defect" on the "mortgage payment" calculator as it doesn't factor in mortgage insurance for low down-payment, and doesn't factor in premiums for interest rate for bad credit or other "conditions".
(As for "interviews"; only in this public forum; but they may quote me as long as I remain anonymous).
- sunnyview
- Contributions:25139
"Studies have shown up to 20% inaccuracy of online information."
Studies have shown that 98% of all statistics are made up. That's why I like Zillow. Their local pages and market trends are a good base for research and they have no agenda.
Although the local MLS may be more current and specific, those statistics often come through an unwelcome filter of the agent and have proven to be less than reliable in the last few years.
Studies have shown that 98% of all statistics are made up. That's why I like Zillow. Their local pages and market trends are a good base for research and they have no agenda.
Although the local MLS may be more current and specific, those statistics often come through an unwelcome filter of the agent and have proven to be less than reliable in the last few years.
- ProfessorBaron
- Contributions:303
Hi Katie,
I am an investor and teacher and do use Zillow. The most useful tool I find is the advice section where people can ask and have questions answered from people who are experts in each field. I answer a lot of questions but I ask questions too when I can't figure something out and I've gotten great answers before.
I am a relatively experienced investor and I can see how the advice section must be very helpful for the less experienced investor.
I wish Zillow had more rental data because that is the hardest item to determine when buying property....but the best rental website for comparable market data is out of business unfortunately....the next best is craigslist and while their info is great...it is a pain to filter through to find what you need. I have some great ideas for doing a great rental website and it would be so so so helpful to investors.....It's too bad no one has done it...
Thanks!
I am an investor and teacher and do use Zillow. The most useful tool I find is the advice section where people can ask and have questions answered from people who are experts in each field. I answer a lot of questions but I ask questions too when I can't figure something out and I've gotten great answers before.
I am a relatively experienced investor and I can see how the advice section must be very helpful for the less experienced investor.
I wish Zillow had more rental data because that is the hardest item to determine when buying property....but the best rental website for comparable market data is out of business unfortunately....the next best is craigslist and while their info is great...it is a pain to filter through to find what you need. I have some great ideas for doing a great rental website and it would be so so so helpful to investors.....It's too bad no one has done it...
Thanks!
- wordsmth
- Contributions:361
There are lots of good aspects of Zillow, and many have already been mentioned. Let me just say--very respectfully--that I hope folks don't use the Zestimates as a definitive answer on property values. I post answers to questions here and (more) elsewhere, and it does trouble me when someone is making a decision on what price to offer as a buyer, or what price to ask as a seller, based primarily on the estimated values generated here. So--again, very respectfully, I hope that the reporter focuses on Zillow's other strengths.
Hey investors -- How do you use Zillow data?
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