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Replies (2)
- Pasadenan
- Contributions:21466
1) Zillow's numbers are not used for mortgage values.... that is against Zillow's terms of use and will get the financial institutions sued.
2) Zillow doesn't use averages; you are thinking about Trulia. Zillow's modeling method doesn't even use comparables; the comparables are selected from the modeling results, not vice versa.
3) You are correct that the 252 Elvia Ct San Rafael CA 94903 property has an incorrect sales transaction from the county records. It sold on 3/30/11 for $589k so you know that it didn't sell 1 month later for $20.68k. The data company copying the public records obviously made a mistake, perhaps copying a second loan transaction, or perhaps a family transfer. There is a place on the home details page for flagging individual transactions for correction. It should be flagged.
(I'm going to flag it too while I have the page open and am thinking about it).
2) Zillow doesn't use averages; you are thinking about Trulia. Zillow's modeling method doesn't even use comparables; the comparables are selected from the modeling results, not vice versa.
3) You are correct that the 252 Elvia Ct San Rafael CA 94903 property has an incorrect sales transaction from the county records. It sold on 3/30/11 for $589k so you know that it didn't sell 1 month later for $20.68k. The data company copying the public records obviously made a mistake, perhaps copying a second loan transaction, or perhaps a family transfer. There is a place on the home details page for flagging individual transactions for correction. It should be flagged.
(I'm going to flag it too while I have the page open and am thinking about it).
- Pasadenan
- Contributions:21466
By the way, the reason that Zillow is so strict on their terms of use of their data and information is that one of their largest expenses is for their contracts with data provider companies for access to the public records. And in order to get large amounts of bulk data at a reasonable price, they have to agree not to distribute the information in bulk nor for commercial purposes, since those data provider companies make a living selling data access to others for a multitude of uses including commercial uses.
If Zillow did not enforce those terms of use, they would either be sued by the provider companies for infringement of contract, or they would lose access to the public data from those sources.
If Zillow did not enforce those terms of use, they would either be sued by the provider companies for infringement of contract, or they would lose access to the public data from those sources.
This question regards a skewed average price
This information should be corrected as it use in making initial mortgage valauations. email - marintax@sbcglobal.net
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