nyrfann Posted December 16, 2008 Share Posted December 16, 2008 (edited) I used the "since last sale" graph I know it's not 100% accurate but it does give a good indication of the ups & downs of your home value. Here is my roller coaster ride: Edited December 16, 2008 by nyrfann hegemony 1 Quote Link to comment Share on other sites More sharing options...
Guest CinciJeff Posted December 16, 2008 Share Posted December 16, 2008 Stupid question: What is a Zillow graph? Maybe the medium home prices? thanks Quote Link to comment Share on other sites More sharing options...
nyrfann Posted December 16, 2008 Author Share Posted December 16, 2008 (edited) Stupid question: What is a Zillow graph? Maybe the medium home prices? thanks Go to zillow.com. It gives an "estimate" of your home value and the ups and downs of your home and homes around you. Edited December 16, 2008 by nyrfann Quote Link to comment Share on other sites More sharing options...
Guest CinciJeff Posted December 16, 2008 Share Posted December 16, 2008 Stupid question: What is a Zillow graph? Maybe the medium home prices? thanks Go to zillow.com. It give an "estimate" of your home value and the ups and downs of your home and homes around you. thanks...............on my way Quote Link to comment Share on other sites More sharing options...
Big Bear Posted December 16, 2008 Share Posted December 16, 2008 Wow, that's one heck of a plot. I love zillow, even if they aren't 100% accurate. Quote Link to comment Share on other sites More sharing options...
nyrfann Posted December 16, 2008 Author Share Posted December 16, 2008 (edited) Wow, that's one heck of a plot. I love zillow, even if they aren't 100% accurate. Crazy huh! You gonna post? It gives a good guidline, if you know your area you kow how much it's off by. For us, it's actually very close. Edited December 16, 2008 by nyrfann Quote Link to comment Share on other sites More sharing options...
centex Posted December 16, 2008 Share Posted December 16, 2008 I looked...slight drop last month, but still trending up. Having two houses a block or so away on the market at seven figures might have something to do with that. Had no luck trying to copy and paste the image though... Quote Link to comment Share on other sites More sharing options...
heatmisr Posted December 16, 2008 Share Posted December 16, 2008 I can't even use it anymore. Somehow, they picked up the sq footage of my basement and have that listed as my total square footage, so it is off at least $20K. But even if it was right, I am still down $72K in 2 years. Quote Link to comment Share on other sites More sharing options...
toopooor Posted December 16, 2008 Share Posted December 16, 2008 (edited) Zillow is wacko. IMHO. Our Zestimate: $204,500 4 bd 2.5 ba 2,016 sqft A foreclosed house 2 doors down sold in the spring for 156 (they had painters/handymen working there for several months before moving in). zillow has it at 192. (The big price dip in mid 2008 on the zillow chart is probably related to this sale.) It's the same floor plan as ours, but we have a bigger deck & backyard with a woodlot behind us, they have houses on all sides. Other houses here are essentially the same floor plan and zillow has them at 195-199. The only diff is they are still owned by the original owners. A smaller 1 story house on another street in this development was on the market for 242 this summer. zillow has it at 185. (It didn't sell. ETA: zillow was definitely closer to the real value than the seller.) We paid 195 in 2006. zillow had it at 208 at the time of the sale. I feel we got a good price for it but i also feel if we had to sell today, we could probably get 180ish for it in this market. Correction: zillow had it something like 224, the appraisal came in at 208. All in all, i'd say it hasn't gained any value but hasn't lost much either. Edited December 16, 2008 by toopooor Quote Link to comment Share on other sites More sharing options...
nyrfann Posted December 16, 2008 Author Share Posted December 16, 2008 (edited) Zillow is wacko. IMHO. Our Zestimate: $204,500? 4?bd?2.5?ba?2,016?sqft? A foreclosed house 2 doors down sold in the spring for 156 (they had painters/handymen working there for several months before moving in). zillow has it at 192. (The big price dip in mid 2008 on the zillow chart is probably related to this sale.) It's the same floor plan as ours, but we have a bigger deck & backyard with a woodlot behind us, they have houses on all sides. Other houses here are essentially the same floor plan and zillow has them at 195-199. The only diff is they are still owned by the original owners. A smaller 1 story house on another street in this development was on the market for 242 this summer. zillow has it at 185. (It didn't sell. ETA: zillow was definitely closer to the real value than the seller.) We paid 195 in 2006. zillow had it at 208 at the time of the sale. I feel we got a good price for it but i also feel if we had to sell today, we could probably get 180ish for it in this market. All in all, i'd say it hasn't gained any value but hasn't lost much either. Hre are the stats on my home: Public Facts: Single family 3 beds 2.0 bath 1,728 sqft Built in 1999 Zestimate®: $220,000 Paid 171K in January 2004 As bad as my graph looks I am not bothered buy it as I knew the jump in value was going to burst. I expect about a 3-5 % gain yearly on the value of my home, not a 20-25% gain. So as of today I am still a few % points above my 3-5 % expectation. Edited December 16, 2008 by nyrfann Quote Link to comment Share on other sites More sharing options...
Momof5 Posted December 16, 2008 Share Posted December 16, 2008 Zillow has been fairly accurate in my city. Posting my zillow would be silly..... I bought 6 months ago. At the time, values in the neighborhood were still at $244K but the builders didn't want the houses sitting there. Got mine for $200K. Zillow says, $225K now. My last house in Argyle was $138K when I bought. Sold it at $198K 3 yrs later. New owners have had it for 2.5 yrs. Went up to $225K now valued at $178,500. Kinda feel sorry for them. Quote Link to comment Share on other sites More sharing options...
Big Bear Posted December 16, 2008 Share Posted December 16, 2008 Wow, that's one heck of a plot. I love zillow, even if they aren't 100% accurate. Crazy huh! You gonna post? It gives a good guidline, if you know your area you kow how much it's off by. For us, it's actually very close. I would, except I don't think they have anything for apartments. Decided against buying a house earlier this year and I'm glad I did (moved to a different state as a result of changing employers). hegemony 1 Quote Link to comment Share on other sites More sharing options...
helcat Posted December 16, 2008 Share Posted December 16, 2008 Zillow is pretty useless unless you are in an area with a ton of sales data. Works well for a subdivision with lots of home, but if you are in an area without alot of turnover and defined moreso by neighborhoods than subdivisions zillow's model simply isn't going to work. hegemony 1 Quote Link to comment Share on other sites More sharing options...
cb_opus Posted December 16, 2008 Share Posted December 16, 2008 My Zillow would be spot-on, except they think I have a 3 bedroom, not a 2 bedroom home. crazy-making, indeed. My neighborhood is pretty stable - slight dip from aug-oct, but back up nearly to its all-time high now. Quote Link to comment Share on other sites More sharing options...
LustfortheMoment Posted December 16, 2008 Share Posted December 16, 2008 My house went DOWN 1.9% last month..........ouch!!!!! Quote Link to comment Share on other sites More sharing options...
inspiringmind Posted December 17, 2008 Share Posted December 17, 2008 They don't have enough data either. Property taxes wise though, my home went up from $38K to $44K. All the houses in my neighborhood range from $29K to $60K. Quote Link to comment Share on other sites More sharing options...
aggieastrosfan Posted December 17, 2008 Share Posted December 17, 2008 I'm always peeking on Zillow not just for our house, but our old house, and all the other houses we almost bought. We may be down, but we're doing better than those others out there! Bought June '06 for $300k Peak - Feb '07 for $382k Current - $292k 4 bed 3 1/2 bath 3964 sq ft pool and spa cul-de-sac lot on the water We're not worried - we don't plan on moving anytime soon! Quote Link to comment Share on other sites More sharing options...
Curious Posted December 17, 2008 Share Posted December 17, 2008 My home is showing a value of $240,500 3 bdrms 2 1/2 bath bonus room double garage 2563 sq. ft. Bought new in 2006 for $225,000 Quote Link to comment Share on other sites More sharing options...
dgatewood Posted December 17, 2008 Share Posted December 17, 2008 Remember, the value is only what somebody is willing to put money on. I find these shows on TV humorous, such as "My House is Worth What?" Even in this market, they give these homeowners, often, very inflated data. Just because somebody says the house is worth 1.2 million, doesn't mean somebody is willing to give you 1.2 million for it =) Don't get me wrong, I hope my home doesn't nosedive in value, but no need in worrying about it. There is very little I can do about foreclosures in my neighborhood that will cause my value to decrease drastically until they are all occupied again. Quote Link to comment Share on other sites More sharing options...
Curious Posted December 17, 2008 Share Posted December 17, 2008 Remember, the value is only what somebody is willing to put money on. I find these shows on TV humorous, such as "My House is Worth What?" Even in this market, they give these homeowners, often, very inflated data. Just because somebody says the house is worth 1.2 million, doesn't mean somebody is willing to give you 1.2 million for it =) Don't get me wrong, I hope my home doesn't nosedive in value, but no need in worrying about it. There is very little I can do about foreclosures in my neighborhood that will cause my value to decrease drastically until they are all occupied again. I think most of us are aware of that. Quote Link to comment Share on other sites More sharing options...
GEORGE Posted December 17, 2008 Share Posted December 17, 2008 My home is showing a value of $240,500 3 bdrms 2 1/2 bath bonus room double garage 2563 sq. ft. Bought new in 2006 for $225,000 CNBC some 1 bedroom 3 bath condo NYC $7,500,000 (was first listed for $15,000,000) Quote Link to comment Share on other sites More sharing options...
jlp58 Posted December 17, 2008 Share Posted December 17, 2008 Bought ours in 1995 for $250,000. 4 BR, 3BR on the main level in a fairly upscale area. It was a definite fixer-upper (owned by 2 little old ladies who had passed away) and appraised for $270,000 when we bought it. If I had to guess, the value probably topped out at somewhere around $500,000 a year ago and it is most likely worth somewhere in the mid-400's today (area has not seen huge price fluctuations). The assessed value for tax purposes was recently raised to $485,000. Zillow's estimate: (wait for it) $643,000!!!!!!!!!! If I thought that was even remotely accurate I would refi tomorrow and take out as much cash as possible for 5% over 30 years (NFCU 30-yr rate). Only owe $160k, so that would be a big chunk of change. Then I could start bottom-fishing the stock market. Quote Link to comment Share on other sites More sharing options...
Krish Posted December 17, 2008 Share Posted December 17, 2008 Every one thinks their house is worth more... and they are not willing to accept the reality. Quote Link to comment Share on other sites More sharing options...
nyrfann Posted December 17, 2008 Author Share Posted December 17, 2008 Every one thinks their house is worth more... and they are not willing to accept the reality. Not I. Quote Link to comment Share on other sites More sharing options...
Curious Posted December 17, 2008 Share Posted December 17, 2008 Every one thinks their house is worth more... and they are not willing to accept the reality. Not I. Not I either. Quote Link to comment Share on other sites More sharing options...
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