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Answers (9)
- Lola Jefferson, "PleasedToBeYourAgent"
- Contributions:70
1 - Every mortgage broker does NOT start off using the Zillow site.
2 - Home values are just an ESTIMATE which is derived from home sales & tax history.
3 - If you want an appropriate estimate of your homes worth, you really should talk to (A) an appraisor or (B) a realtor.
2 - Home values are just an ESTIMATE which is derived from home sales & tax history.
3 - If you want an appropriate estimate of your homes worth, you really should talk to (A) an appraisor or (B) a realtor.
- PBMAN1965
- Contributions:3
Thank you all for your posts. I will remind the next broker I talk to that this is against the terms and conditions.
- Philip Sencer, "Philip_Chicago"
- Contributions:551
These are ESTIMATES of value based on 3rd party data which is often inaccurate, out of date or incomplete. No one pays too much attention to the estimates particularly mortgage brokers. Buyers never refer to them when writing offers. If you are not on the market why bother and if you are, or thinking about it speak with a few agents to do a market analysis using more reliable data.
- PBMAN1965
- Contributions:3
I'm not argueing whether they should or shouldn't. I'm saying that every one I've spoken to says zillow lists your value as...(I'm sitting near 100% financing). Whether they are or aren't is irrelevant. I want to know how two nearly identical houses can fluctuate that much and not at the same time.
- Francesca Patrizio, "PatrizioRE"
- Contributions:132
FB,
First let me say that that us RE Brokers and I highly doubt that mortgage brokers start with Zillow. In fact, although Zillow has improved over the years and I highly respect Zillow, they are the LAST point within which we use to evaluate! . ... as their estimates are superficial and are unabe to consider interior conditions. If your agent is doing so (and I rarely say this, kick him/her to the curb).
Zillow estimates have created quite challenge for us agents when it comes to buyers as buyers see it as a Bible of sorts. The bottom line is "local" evaluations. Period, the end.
As with what you hear in the national media with home prices, one must take Zestiamtes with a grain of salt and tailor the evaluation to the local level.
First let me say that that us RE Brokers and I highly doubt that mortgage brokers start with Zillow. In fact, although Zillow has improved over the years and I highly respect Zillow, they are the LAST point within which we use to evaluate! . ... as their estimates are superficial and are unabe to consider interior conditions. If your agent is doing so (and I rarely say this, kick him/her to the curb).
Zillow estimates have created quite challenge for us agents when it comes to buyers as buyers see it as a Bible of sorts. The bottom line is "local" evaluations. Period, the end.
As with what you hear in the national media with home prices, one must take Zestiamtes with a grain of salt and tailor the evaluation to the local level.
- Rita A. Walker, "Rita Walker"
- Contributions:277
Why would a Mortgage Professional start with unreliable data?
The way to get reliable data is from a Real Estate Professional or an appraiser. If my Mortgage Professional was using data from Zillow I would be shopping around for another lender.
The way to get reliable data is from a Real Estate Professional or an appraiser. If my Mortgage Professional was using data from Zillow I would be shopping around for another lender.
- Rita A. Walker, "Rita Walker"
- Contributions:277
Slim to none!
How do you determine value
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