Home values
 

Went on Zillow out of curiosity to see house values in my Village. Houses have dropped in value 10-20% in the past week. Anyone else notice?

I don't think so, there is no way to calculate a drop of 10 to 20% in property values in a week. Do the listing say "price drop"? If so, it is most likely only a few homes that were over priced to begin with. TV just announced a price increase on new homes and they wouldn't be doing that in a down market.

yes, my house went down by 25k. but i don't care ill be in it till i die.

It's right on with my 2BR masonry CYV. I had an appraisal in 2018 because I got a reverse mortgage and it was $237K. Zillow at this very moment has my Zestimate at $257,800. I had $18,000 in work done between August and September. It seems to be spot on. It is down 1.3% in the last 30 days.

Not a fan of Zillow.......but by their estimate my house went up 64K in the last 30 days. When I refied it was appraised at 480K.....today on Zillow 582K. Personally I think the appraiser was right on just knowing what houses near us sold for. Of course it really only matters what a buyer will pay right?

I don't know how accurate Zillow is. My home is 3-1/2 years old and they show it as going up 49.3%, if someone offered what they show today, I would most likely be moving tomorrow. It also shows a decrease in value over the last 30 days as 0.1% I think using recently sold figures would be more accurate than Zillow.

Zillow is very accurate and they track their accuracy by comparing their pre-sale estimate to the actual sale price for many houses. You can view their data and accuracy on the Zillow website. I think their accuracy averages about 3 percent. But, obviously, any individual house is only worth what a buyer is willing to pay. That is why they call it an estimate. So, no one can tell you what a house is really worth until it sells.

Quick. Buyers should go to contract on the last house they looked at. History has shown that pullbacks like this only last about a week. Oh wait, that's the stock market. Nevermind

Home values
 

My home value went up this week - currently 17% higher than when I purchased it in June 2019.

ZILLOW is not a reliable source - don't look at their values too seriously

Mine shows up $1,000 over the last 30 days. It is up $20,000+ since I purchased new at the end of 2018.

I don’t put too much weight on Zillow’s estimates. It constantly fluctuates up to 50k one way or the other on our house.

Don’t trust Zillow. They use comps out of the villages.

Do people really monitor the value of their homes? The only time I checked the value of the home we lived in for 29 years and just sold before coming down was just before putting it on the market.

What goes up must come down.you all have been alive long enough to know that.