Profile picture for smhs

Why would anyone pay attention to Zillow?

Their information seems to be very suspect.
  • October 02 2009 - Wall Township
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Answers (4)

The zestimate trend charts usually give a very accurate indication of whether house values in a location are rising or falling - very useful if someone is looking in a particular location.  The advice boards can be extremely valuable.  The Directory has helped a lot of people hook up with specialists they need.  There is a lot on zillow beyond the zestimate.
  • October 05 2009
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Profile picture for nwhome.us
If you understand how they collect the data in your county or city you will have better insight into its usefullness.
In King County (Seattle) I understand that they use the county data, not the data from our local MLS.  I understand that they don't want to pay for the MLS data and that our county has reasonably good electronic data available.
So if you believe that the data sourse is consistant (not just the internet that a lot of valuation models refer to) then the more reliable indicators are trends, not actual snapshots.  This is where the benefit of having the data available helps in the historical research that the others are referring to.  If the county data has the wrong information on a home, it was probably wrong 6 years ago by the same amount.  But the appreciation or depreciation of that property is probably pretty reasonable.  I think most of us use it in concert with a number (4-5) of viewpoints on value and give it weight when it suits our own purpose.
  • October 04 2009
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I find it helpful, both as a realtor and appraiser.  You can't trust much of it, but it does give you a ball park and comps to compare it with.  As well as historic market stats.
  • October 03 2009
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Profile picture for CORONA NICK
Not  all the info you get from here may be correct, but there is much to learn and many people to learn from. 
  • October 03 2009
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