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Impact of the housing market, post your Zillow graph here


nyrfann
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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 by nyrfann
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Guest CinciJeff
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

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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 by nyrfann
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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.

 

zillow.png

Edited by toopooor
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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.

 

zillow.png

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 by nyrfann
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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. :lol:

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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. :cry2:

 

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).

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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!

 

graph.jpg

 

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!

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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.

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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.

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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!!!!!!!!!!

 

:dntknw:

 

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. :lol:

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