General Discussion

CountAllVotes

(21,173 posts) Wed Aug 14, 2024, 12:56 PM Aug 2024

Zillow and the prices they post [View all]

I checked the "value" of my house today.

It dropped 20% overnight!

How reliable is zillow.com for pricing a home?

The only good thing I can see out of this is that if I move, I won't be needing to worry about paying capital gains on the profit I might realize from the sale of my house.

I wasn't planning on doing this anyway as I don't really have anywhere to go as I have one relative left that spews quotes from the Orange guy every minute or two.

Has the housing bubble begun to burst? Is this the beginning of it now that I am seeing.

What a nightmare this whole buying/selling and owning a house can be.

Anyone else making similar discoveries?

What a

this is for me!

41 replies

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Zillow and the prices they post [View all] CountAllVotes Aug 2024 OP

Noise Johnny2X2X Aug 2024 #1

Totally agree. That's especially true if you live in a neighborhood of spooky3 Aug 2024 #2

I don't know what to think CountAllVotes Aug 2024 #4

Are you looking to sell? Johnny2X2X Aug 2024 #8

No I am not CountAllVotes Aug 2024 #14

Very sorry for your loss Johnny2X2X Aug 2024 #15

Thank you CountAllVotes Aug 2024 #19

Oh jeesh Johnny2X2X Aug 2024 #24

Yes CountAllVotes Aug 2024 #28

I too am sorry for your loss. I"m glad you have the house. spooky3 Aug 2024 #26

One of the main reasons real estate is overpriced... Think. Again. Aug 2024 #3

The market sets the prices Johnny2X2X Aug 2024 #7

the market prices are set by the realtors. Think. Again. Aug 2024 #10

3.5% Johnny2X2X Aug 2024 #16

That's true if we assume all real estate agents are competent and knowledgeable. spooky3 Aug 2024 #31

Sure but the incompetence filters them out. Voltaire2 Aug 2024 #34

Not in every case. Many are part-time and have other jobs or may have spousal support spooky3 Aug 2024 #35

You are 100% correct ScratchCat Aug 2024 #22

They may advise the seller on the asking price, but it's the market spooky3 Aug 2024 #29

Sometimes Amazon moves nearby and builds a massive complex. GreenWave Aug 2024 #13

Not even remotely true. we can do it Aug 2024 #17

Check at least three Mosby Aug 2024 #5

This exactly MissB Aug 2024 #25

I agree with Reply #1, but 20% does seem unusual. Croney Aug 2024 #6

I'll admit it, I was shocked CountAllVotes Aug 2024 #9

882 sq. ft.? Both his house, and yours? And such a big difference in value? Croney Aug 2024 #21

882 sq. feet is correct CountAllVotes Aug 2024 #32

Nice yard! 🙂 Croney Aug 2024 #36

It sounds like a lovely house! yardwork Aug 2024 #41

Maybe your house isn't worth 300k, maybe it's worth more? dem4decades Aug 2024 #30

My realtor calls Zillow arkielib Aug 2024 #11

It's just an algorithm servermsh Aug 2024 #12

Zillow is a pretty poor price estimator. MineralMan Aug 2024 #18

Zillow changed up their algo a while back ScratchCat Aug 2024 #20

I don't think this house is worth over $400K CountAllVotes Aug 2024 #23

It varies by market Sympthsical Aug 2024 #27

From realtor.com CountAllVotes Aug 2024 #33

On Zillow, did you look at "recent sales" on your house's description? spooky3 Aug 2024 #37

That did happen recently! CountAllVotes Aug 2024 #38

You're welcome! spooky3 Aug 2024 #39

Thanks CountAllVotes Aug 2024 #40