Zillow.com???

[eastsideguy1124]

Has anyone used Zillow.com before? If so how accuarte or not is it?? Would you advise or not advise using it?

[joelags]

I have been testing the waters with it here in the Austin area, then running comps with my realtor just to see what the difference is and about 5 out of 10 were within 5k off from comp value and the other 5 were just way off.  So its pretty much hit or miss at least in this area.  

[jryan2355]

I've had about the same experience pulling comps in utah. Very hit or miss, mostly miss and out dated.

[kdhastedt]

Then the question begs:

If Zillow is "...pretty much hit or miss at least in this area" (mostly "miss"), are you going to, in any way, base financial decisions involving YOUR money on it????

For me, that's the end of the repetetive "Zillow" discussions...you can't sit at the desk, push a button, and have the computer make REI decisions involving your financial welfare for you!  IMO, Zillow will never be accurate.  You gotta get out and you gotta know!

My two cents...

Keith

[jryan2355]

I would not feel comfortable basing ANY financial decision off of Zillow. I think I find it more entertaining than anything. I am lucky enough to have MLS access, so I trust that slightly more than Zillow.

[kdhastedt]

I understand...I just want to insure that some of the newer folks do, too...relying on some of this on-line crap is going to be detrimental to someone's financial well-being eventually...there is no substitute for "doing your homework"...

Keith

[jryan2355]

I agree. There's a little thing called Due Dilligence. Many people may seem it as the boring part of REi, but accurate knowledge is key.  

[loveRe]

i have many properties on zillow, most of them(outside of big cities) did not even come close to market value. i checked one in VA, and the market value was equal to the assessment value...LOL

[loveRe]

NOT