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Answers (4)
Perhaps Governor Perry should have highlighted in his presidential campaign that one of the benefits he has protected is the non disclosure status in Texas. If he did and voters understood the AVM nonsense from sites like Zillow he would be the front runner instead of heading back to Texas today. The fact that Zillow even attempts to calculate valuations for homes like the one this thread highlights illustrates better than any argument how deficient Zillow is. What are they trying to prove? how incompetent they are? Obviously that can be the only answer in this case.
- hpvanc
- Contributions:2579
Surbiton,
Texas is a non-disclosure state on sales prices. The data that the Zestimate can be modeled on is limited, it has been suggested that they try to use Tax Valuations (but the assessor doesn't get sales prices either), initial Lien amounts (with assumptions about down payments), and listing prices (which can also be widely different in both directions since some people do price low to generate an auction situation), or some combination of all of them.
Basically everyone in Texas is kept in the dark on values, including to some extent agents on FSBO and on those willing to pay the fee to keep final sales price out of the MLS.
Texas is a non-disclosure state on sales prices. The data that the Zestimate can be modeled on is limited, it has been suggested that they try to use Tax Valuations (but the assessor doesn't get sales prices either), initial Lien amounts (with assumptions about down payments), and listing prices (which can also be widely different in both directions since some people do price low to generate an auction situation), or some combination of all of them.
Basically everyone in Texas is kept in the dark on values, including to some extent agents on FSBO and on those willing to pay the fee to keep final sales price out of the MLS.
@notstilllooking
The zestimate for your home is a perfect illustration of how useless Zillow zestimates are. Why they persist with this charade is beyond my comprehension as all they are doing is demonstrating how inaccurate their valuations are. Texas is a non disclosure state and Zillow struggles to get information to actually attempt any valuations but for whatever reason they persist.
In the past 6 months your home value according to Zillow has dropped from $799k to $383k. The real question is why they ever increased it to $799k in the first place, but inaccurate is wrong whether too high or too low.
Thanks for highlighting anyways. Just another reason why these sites need regulation so they don't blight homeowners lives with garbage valuations like this.
The zestimate for your home is a perfect illustration of how useless Zillow zestimates are. Why they persist with this charade is beyond my comprehension as all they are doing is demonstrating how inaccurate their valuations are. Texas is a non disclosure state and Zillow struggles to get information to actually attempt any valuations but for whatever reason they persist.
In the past 6 months your home value according to Zillow has dropped from $799k to $383k. The real question is why they ever increased it to $799k in the first place, but inaccurate is wrong whether too high or too low.
Thanks for highlighting anyways. Just another reason why these sites need regulation so they don't blight homeowners lives with garbage valuations like this.
- Pat Pribisko, "Pat Pribisko"
- Contributions:1426
Contact a local Realtor to perform a CMA (Comparative Market Analysis) for you at no charge.
estimated value 105 honeycomb drive boerne texas
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