why is my home priced so cheap?are you stoned or just Idots?

Profile picture for godie
I used to think zillow was a good estimate
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January 02 2011 - Norco
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Answers (5)

Profile picture for the_country_hick
Maybe it is both. Did you ever consider that possibility?

In some areas a zestimate is fairly close. In others is it far off.
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January 02 2011
Have you considered asking an Realtor for a CMA Comparative Market Value?  On many Realtor sites you can fill in your address and within an hour or so have a CMA in your email.
Zillows info goes off of similar info, and sometimes does not decipher where one community ends and another begins and goes off of distance usually.  You cant blame them they are nation wide giving some info and getting better all the time.
A very smart way to keep up on your home values is to ask a Realtor to send you info ( home sales and listings ) on your particular area using the 4 larger streets or something like that around you so you can see the housing market each week at a glance.  Make sure you let them know you only want it weekly and it is only to keep an eye on your community.

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January 02 2011
don't relie on any site,and do your homework work with someone in your aarea.
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January 02 2011
Profile picture for sunnyview
Norco was hit hard by the bubble here and foreclosures here. Right now every 1 in 164 houses in Norco have gotten a foreclosure filing. That has a serious effect on values. When there are more normal sales than REO's or short sales to comp houses from for sales and appraisals, the values should stabilize.

Zillow is not an appraisal. If you need more info on current values, a local agent can do a more specific analysis based on detailed comps on your specific house/area.
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January 02 2011
Profile picture for The Wizard of Waz
I'm not sure whay you thought that. They are "all over the map". At least they are working on getting better but the crazy market is helping them.

As always, rely on a local agent in your area to get you the most up to date information.
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January 02 2011
 

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