aapostrophe's Q&A

did you refinance or HELOC?  that could be what that figure is.

free rent!

is Zillow the hot destination now that Craigslist had to remove the erotic services section?

the more they stall before signing documents, the more time that another, higher offer could potentially come in.  

The graph explains the decline in value of the Zestimate, not the actual purchase price paid.

Gary-  what I was looking for from you was comps-  you know the magicthings that Real Estate Agents use to show a buyer/seller what has recently sold in the immediate area that would support your asking price. Just about every house in this neighborhood lately that is for sale has sat on the market for a long period of time while the agent and owners slowly lowers the  price, bit by bit.  The asking price for this little, albeit kind of charming but not that charming now that the outside paint is fading, shoebox is one of the higher current asking prices among houses that are bigger and in comparable or better shape. Values in this neighborhood have not been rising recently and instead homes are being taken off the market after not selling, or are being rented out.  I don't see that it is doing good for the neighborhood if every two years,$10,000 in 6% commissions for realtor fees plus some sort of imaginary "profits" are tacked on to the "value" of an unremarkable house.  This house hasn't at all increased in value, but it sure as heck has gotten a lot more expensive. 

That is interesting.  Looking at the City's recorded sales, the highest priced comparable sale in this neighborhood was for $146,000 back in March.  Where are the recent sales that support your $179,000asking price?  I am quite familiar with this neighborhood and in fact livefacing Byrd Park on Lakeview.Also, if the last sale brough multiple offers and the price ended at $160,000-  that means that $160,000 was the value of that house at the time.  A house's value is what a buyer will pay for it, no more (and no less).  Nobody was willing to bid up the price to $163,000, so obviously two of the multiple buyers felt that the "value" was not there at that price.

This tiny house is listed for $19,000 MORE than it sold for in 2007. Was the roof redone in gold?  It sold for $160,000 two years ago, before prices started to fall here.  I hope that someone doesn't get swindled into thinking that the "value" of this house has jumped like that during a housing crash.

no.

i'm happy as a clam that this was the first question i clicked when visiting zillow for the first time in ages.