Quote:
Originally Posted by manaboutown
 I follow five houses owned by family members. Zillow runs consistently from a little bit to quite high on four of them and below market on the fifth. Their valuations seem to have bounced up or down by a few thousand every time I check. It has crossed my mind that providing too high estimated values and running the evaluations up and down pulls people in to keep checking with Zillow. Frankly, it can be a bit addicting (just like TOTV) which may be Zillow's goal. |
Zillow depends heavily on recent what it thinks are comparable sales. So depends on market.
My current home was 30% low for years. It is in a pocket surounded by lowered price homes and no resales since constructed.
The day after it mine was listed for sale, the Zillow price jumped up 40% to within 2% of the listing price.