How realistic do you think Zillow home price estimates are?

» Site Navigation
Home Page The Villages Maps The Villages Activities The Villages Clubs The Villages Book Healthcare Rentals Real Estate Section Classified Section The Villages Directory Home Improvement Site Guidelines Advertising Info Register Now Video Tutorials Frequently Asked Questions
» Newsletter Signup
» Premium Tower
» Advertisements
» Trending News
» Tower Sponsors




















» Premium Sponsors
» Banner Sponsors
» Advertisements
Closed Thread
Thread Tools
  #31  
Old 12-27-2019, 10:34 PM
mamamia54 mamamia54 is offline
Senior Member
Join Date: Jan 2018
Posts: 221
Thanks: 9
Thanked 364 Times in 99 Posts
Default

Sometimes I think the Villages realtors discuss what they are going to set prices at. I think they all list the houses high for the most part. Most patio villas are coming on at 210,000 and 220,000. For a patio villa! I think the prices went higher on a patio villa than other models. Just my opinion.
  #32  
Old 12-28-2019, 06:09 AM
eddie m eddie m is offline
Junior Member
Join Date: Nov 2010
Posts: 1
Thanks: 0
Thanked 1 Time in 1 Post
Default

Quote:
Originally Posted by starflyte1 View Post
Do you think the Zillow home estimate is even close to the value of your home?
It’s different here in the Villages. Seeing that the homes are “cookie cutter” styles the difference in pricing that comes into play is location, block and stucco verses vinyl siding, views, pools, golf cart garages, granite, tile verses carpet.
The newer home’s being built here in my opinion only, are being built closer together, have shorter driveways, along with the bonds, no squares and not enough amenities to support easy accessibility for the homeowners to enjoy with more than 60,000 new homes being added. That being said people who love the trails and quiet layer back lifestyle suits their needs.
Been in real estate for over 35 years, experience shows that location will always be the major factor in pricing.
  #33  
Old 12-28-2019, 06:11 AM
Gigi3000 Gigi3000 is offline
Senior Member
Join Date: Dec 2017
Posts: 110
Thanks: 175
Thanked 26 Times in 18 Posts
Default

Try Chase banks home value finder. I would go by that.
  #34  
Old 12-28-2019, 07:36 AM
Windguy Windguy is offline
Senior Member
Join Date: Jun 2016
Posts: 212
Thanks: 643
Thanked 402 Times in 134 Posts
Default

Call me a cynic, but I suspect that Zillow estimates are high because they want to encourage people to sell their houses to get their hands on that supposed equity. In my past dealings with realtors, they always told me my house was worth more than it eventually sold for. They made silly comments like “I can get you TOP DOLLAR!”

I guess I’m just a suspicious person and I tend to question people’s motives. For instance, how does Zillow benefit from their service? They certainly don’t do it out of the kindness of their hearts.
  #35  
Old 12-28-2019, 08:17 AM
Davelinda91 Davelinda91 is offline
Member
Join Date: Nov 2019
Posts: 40
Thanks: 0
Thanked 27 Times in 14 Posts
Default Zillow

I think everyone in TV lists selling price by model type. I find it strange that a “Bond Paid” has the same listing price and up grade such as granite doesn’t increase the value. In TV the only thing that I can see changes the listing price of the same model home is location, location, location!
  #36  
Old 12-28-2019, 08:33 AM
retiredguy123 retiredguy123 is offline
Sage
Join Date: Feb 2016
Posts: 5,130
Thanks: 445
Thanked 3,137 Times in 1,159 Posts
Default

The way houses are priced in The Villages is not much different from anywhere else. But, Zillow has changed a lot by becoming more prominent in the real estate market. Real estate agents and other people selling their homes are using Zillow for sales and marketing purposes much more so than years ago. Some people will actually buy a house by viewing it online and not even visiting the house. I think Zillow benefits by being as accurate as possible with their estimates and other information.
  #37  
Old 12-28-2019, 08:39 AM
petsetc petsetc is offline
Senior Member
Join Date: Mar 2015
Posts: 158
Thanks: 152
Thanked 28 Times in 20 Posts
Default

From very recent, personal experience (on going) I can say that if the house has not had a recent sale, or has undergone any extensive renovation, the Zillow estimate is not accurate since it seems to be based on last sale and tax assessment. In my case, once listed and the info on Zillow it came up about 50%. While on the market, it changes as a function of time/price adjustments and immediately adjusted when "under contract". When the contract fell through (buyer financing), the Zillow estimate adjusted downward, even though the VA appraisal was high. I also followed the Refin estimate and have the same impression. FWIW
  #38  
Old 12-28-2019, 08:44 AM
OhioBuckeye OhioBuckeye is offline
Veteran member
Join Date: Sep 2015
Posts: 947
Thanks: 0
Thanked 161 Times in 128 Posts
Default

You know what they say, Location, Location, Location. Plus you got to do a market value. Even TV have some area’s that don’t have some desirable area’s. Stay with somebody that knows & seen TV. Zillow only sees pictures!
  #39  
Old 12-28-2019, 08:52 AM
crypto835 crypto835 is offline
Junior Member
Join Date: Apr 2011
Posts: 3
Thanks: 3
Thanked 3 Times in 2 Posts
Default

Quote:
Originally Posted by starflyte1 View Post
Do you think the Zillow home estimate is even close to the value of your home?
NO. Ask any licensed real estate appraiser.
  #40  
Old 12-28-2019, 08:54 AM
meridian5850's Avatar
meridian5850 meridian5850 is offline
Senior Member
Join Date: Jul 2014
Location: TV
Posts: 103
Thanks: 142
Thanked 129 Times in 63 Posts
Default

Quote:
Originally Posted by OrangeBlossomBaby View Post
You can't always update the information, especially if you don't have a Zillow account or are a licensed realtor. They get some of their data from the MLS service which laymen can't update.
Actually, all you have to do is put your address in, click on "claim this home as your residence", update the info and the estimate gets updated.
  #41  
Old 12-28-2019, 09:09 AM
Investment Painting Contractors Investment Painting Contractors is offline
TOTV SPONSOR
Join Date: Mar 2008
Posts: 690
Thanks: 1
Thanked 178 Times in 68 Posts
Default

Quote:
Originally Posted by petsetc View Post
From very recent, personal experience (on going) I can say that if the house has not had a recent sale, or has undergone any extensive renovation, the Zillow estimate is not accurate since it seems to be based on last sale and tax assessment. In my case, once listed and the info on Zillow it came up about 50%. While on the market, it changes as a function of time/price adjustments and immediately adjusted when "under contract". When the contract fell through (buyer financing), the Zillow estimate adjusted downward, even though the VA appraisal was high. I also followed the Refin estimate and have the same impression. FWIW
You are RIGHT ON THE MONEY. They are strictly estimates. They are wrong over 50% of the time. They are used as generalizations and not gospel.
  #42  
Old 12-28-2019, 09:30 AM
retiredguy123 retiredguy123 is offline
Sage
Join Date: Feb 2016
Posts: 5,130
Thanks: 445
Thanked 3,137 Times in 1,159 Posts
Default

Quote:
Originally Posted by Investment Painting Contractors View Post
You are RIGHT ON THE MONEY. They are strictly estimates. They are wrong over 50% of the time. They are used as generalizations and not gospel.
I would encourage people to read the Zillow "zestimate" section on their website. They explain how they measure and track the accuracy of their estimates, including spreadsheets. Their accuracy has recently been within about 1.9 percent, when you compare their estimate to the actual selling price, which is public record. So, unless Zillow is lying, I think their accuracy is very good. But, of course it is an estimate. I have never heard of a real estate gospel.

Also, I don't think real estate appraisers are the best people to estimate market value for buying or selling a house. They usually work for the bank, and their primary function is to satisfy the bank.
  #43  
Old 12-28-2019, 09:40 AM
Chi-Town's Avatar
Chi-Town Chi-Town is offline
Sage
Join Date: Dec 2009
Posts: 6,436
Thanks: 15
Thanked 404 Times in 212 Posts
Default

I find Zillow to be much more accurate than it was years ago. And as mentioned before you can log in to establish an account and correct or update information about your house. You can even add a picture or two. Of course, your input has to be verified before the changes are made.

Anyhow, go to Zillow.com and check out your house; it can be a fun exercise.
  #44  
Old 12-28-2019, 09:42 AM
pjlyness pjlyness is offline
Junior Member
Join Date: Aug 2016
Posts: 1
Thanks: 1
Thanked 0 Times in 0 Posts
Default

I recently bought my home here TV and the appraised value is about $25K under Zillows’s estimate. A recent appraisal is always more accurate.
  #45  
Old 12-28-2019, 10:12 AM
starflyte1 starflyte1 is offline
Platinum member
Join Date: Jul 2008
Posts: 1,580
Thanks: 251
Thanked 218 Times in 48 Posts
Default

Quote:
Originally Posted by petsetc View Post
From very recent, personal experience (on going) I can say that if the house has not had a recent sale, or has undergone any extensive renovation, the Zillow estimate is not accurate since it seems to be based on last sale and tax assessment. In my case, once listed and the info on Zillow it came up about 50%. While on the market, it changes as a function of time/price adjustments and immediately adjusted when "under contract". When the contract fell through (buyer financing), the Zillow estimate adjusted downward, even though the VA appraisal was high. I also followed the Refin estimate and have the same impression. FWIW
That explains the low value on my home. Thanks! The home across the street that has a value of $100,000 more than mine, has no pool and is not golf front, just sold last year, so the estimate has been updated.

I have owned my home for 10 years and have been homesteaded in Florida since 1992, when the law went into effect. I have been able to carry that tax benefit with me.
__________________
Village of Hacienda East
Closed Thread

Tags
home, zillow, close, estimate, realistic

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 02:04 AM.