Have you ever "Zillowed" your home?

DdBob

DdBob

Dogue in teh desert
I just rent here but there is a house on a nearby street I walk my dog by frequently and I finally decided to Zillow it to see what is the deal since it has never shown any bit of activity. I have never once seen a car, never seen trash bins put out, window coverings have never been open...they is zero sign of it being occupied and this goes back to at least 2011 when I first started noticing it.
So I go to Zillow and it shows it was last sold in 1994 for 93,000 which in todays cost was like 183,000 or so. It currentrly has the Zilloestimate of 373,000 *spits*

FF to my place of rent . I already knew the back story that My landlady lived here starting in the mid 70's when she was in the university. She had told me her parents bought it for her. Anyway Zillow showed the last sold date as 1978 and at that time ....wait for it........................this place sold for a whopping 3,800 dollars !!! which in todays money is apx. 17, 893 dollars.... ( it Zillow lists for 349,000)

So basically WTF happened? where did real estate go so bonkers. this is absolutely nuts that a home built about 75 years ago increases invalue by like 20 times it's original value.....
 
It’s the housing bubble. Our place was built in 1948. We purchased it in late 2012/early 2013 from the estate of the original owner (she lived to be 100) and paid around $205,000. This was at the bottom of the market after the housing bubble crashed during the Great Recession. Zillow now claims it’s worth $348,000—but I think that is optimistic. And many of the smaller homes like ours around here are often subject to tear down/rebuild by speculators looking to turn a profit by plopping luxury seeming homes on city lots and selling them to dinguses.
 
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ok ...even more goofy is I just zillowed my dads house which will be mine when he passes away , so sometime with the next 10 years ( he's 90 currently). This is the house I grew up in from about 9 years old. It was built in 1974 and to compare to my rental place which was built in 1949.

dad's place lists for 303,000 zillowestimate and taxes are 1872.00 (1,505 sq. ft)( lot size is 8,200 sq. ft) In a quieter more out of the way neighborhood. Estiomated rent lists as 2,199

my rental lists for 348,00 and taxes are 2989.00 (1,288 sq. ft) ( lot size 8,779 sq. ft) in the heart of the city, designated historic neighborhood...5 minutes from the University and downtown. Estimated rent lists as 1,900 ( DdBob thankfully and gratefully only pays 750)


so anyway for some reason dad's home does not show last sold price but we moved in in 1979 and he has told me ( been a while back so not completely sure) but my parents bought it at the time for 51,000 i believe ( at that time it was basically on the edge of town on the far east side bordered by moutains and Saguaro National monument east)

so how TF do these numbers work it seems in 1978 his house was like 20 times my rental ( 3k vs 50k) and now my rental is worth about 50k more than his and I know for sure his is in better condition.

the only thing I can see other than a very slight differnce in lot size and the fact that my dads info is not updated (still shows evap cooling even though theyve had AC for 30 years) is that my rental is a 74 out of 100 "walkable residence vs my dads which is 10 of 100 ( car dependent)
This all points to gentrification and "urban density trend that the millinials lust for AFAICT :cop: :embarrassed:
 
Peen Simmons said:
It’s the housing bubble. Our place was built in 1948. We purchased it in late 2012/early 2013 from the estate of the original owner (she lived to be 100) and paid around $205,000. This was at the bottom of the market after the housing bubble crashed during the Great Recession. Zillow now claims it’s worth $348,000—but I think that is optimistic. And many of the smaller homes like ours around here are often subject to tear down/rebuild by speculators looking to turn a profit by plopping luxury seeming homes on city lots and selling them to dinguses.
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Yeah the Zillow stuff just seems off. I mean at least here it seems every property has the same exact 'repair" cost estimates and such.
 
DdBob said:
Yeah the Zillow stuff just seems off. I mean at least here it seems every property has the same exact 'repair" cost estimates and such.
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It’s a sales and marketing tool and exists in partnership with real estate firms. Zillow has a vested interest in inflating home prices and getting people excited that they can “make” a ton of money by selling their home for big profits—profits which are skimmed by agent/broker commissions, lawyers, lenders, etc.

I know a guy who got excited about turning a profit on his place and moved his family in with his in-laws temporarily and sold his place. He’s still living in its his in-laws years later because he’s an idiot and didn’t account for the fact that he made money on his place because prices were going up across the board. This guy is not a poor working stiff. He’s an executive level white collar dude. He is, however, a dumbass.
 
Peen Simmons said:
It’s a sales and marketing tool and exists in partnership with real estate firms. Zillow has a vested interest in inflating home prices and getting people excited that they can “make” a ton of money by selling their home for big profits—profits which are skimmed by agent/broker commissions, lawyers, lenders, etc.

I know a guy who got excited about turning a profit on his place and moved his family in with his in-laws temporarily and sold his place. He’s still living in its his in-laws years later because he’s an idiot and didn’t account for the fact that he made money on his place because prices were going up across the board. This guy is not a poor working stiff. He’s an executive level white collar dude. He is, however, a dumbass.
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These people (Zillow and investors) suck ....I hate them peen :mad:
 
When we were in the market almost 2 years ago, the estimates were pretty close to the accepted offer price on places we submitted offers and got beat out.

We are in a very active market with high demand so they also had a ton of transactional data to base the estimates on. Obviously there are plenty of outliers that don't ultimately meet the estimate based on factors they must not be able to consider specific to that property.
 
since we’re going to sell soon, I check it every few months. Zillow is a little under for my area. The DC area in general is a bit odd, but we are in one of the prime school districts. Everyone wants their kid to go to this one middle school because it prunes them for a science and tech high school. We got a killer deal when we bought our house 6 years ago and if we get the Zillow estimate, I’ll be stoked.
 
Lerxst said:
When we were in the market almost 2 years ago, the estimates were pretty close to the accepted offer price on places we submitted offers and got beat out.

We are in a very active market with high demand so they also had a ton of transactional data to base the estimates on. Obviously there are plenty of outliers that don't ultimately meet the estimate based on factors they must not be able to consider specific to that property.
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its a very competitive market here too
 
probably once a month hahaha

i was flabergasted when someone from my work recently bought a house down the street to see what they paid, it was nearly twice what we paid and we have only been there about 5 years.
 
I have. I was the second owner and Zillow doesn’t show what I paid. It’s listed for 4 times what I paid including the interest on my loan.
 
I've Zillowed my house a few times. The Zestimate is in the high $900K range, and given the market here in San Diego, that's likely accurate. However, I have no plans to sell, because other houses are much more expensive in the areas I would want to move to. I will likely stay put here until I leave my current employment since it allows me to have a very short commute to work.
 
sleewell said:
probably once a month hahaha

i was flabergasted when someone from my work recently bought a house down the street to see what they paid, it was nearly twice what we paid and we have only been there about 5 years.
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its completely stupid how this crap works....double in 5 years is not sustainable as they say. We are probably at the point where mericuh was just before Starbucks showed corporate mericuh ( yes even before bezos really paved the way) that domination and monopoly of the market can be owned. Soon nobody that doesn't already own property will never be able to again.

I mean again let it sink in that the price my landlady bought this place for 46 years ago in todays money if she bought it would be less than 18,000 dollars and now it's 350k
 
Chad said:
since we’re going to sell soon, I check it every few months. Zillow is a little under for my area. The DC area in general is a bit odd, but we are in one of the prime school districts. Everyone wants their kid to go to this one middle school because it prunes them for a science and tech high school. We got a killer deal when we bought our house 6 years ago and if we get the Zillow estimate, I’ll be stoked.
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NOVA is very odd. Lots of military in and out keeps homes selling. I was in the military and I don’t know what the he housing allowance is now but I know military people buying million dollar houses. It just makes me go how the hell are you doing that?
 
I do. I also virtually cruise the neighborhood on the satellite map.
I think it used to automatically list the Zestimated price of every house you see on the map. Now, I think you have to enter the address.
 
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I zillowed my villa and found it to be incorrect as the homes here are selling for more than what the website says. It comes down to whatever the market will bear.
 
DdBob said:
its completely stupid how this crap works....double in 5 years is not sustainable as they say. We are probably at the point where mericuh was just before Starbucks showed corporate mericuh ( yes even before bezos really paved the way) that domination and monopoly of the market can be owned. Soon nobody that doesn't already own property will never be able to again.

I mean again let it sink in that the price my landlady bought this place for 46 years ago in todays money if she bought it would be less than 18,000 dollars and now it's 350k
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bro none of this is sustainable. were all a few years away from dying in the climate / water wars.
 
DinoMikeSr said:
NOVA is very odd. Lots of military in and out keeps homes selling. I was in the military and I don’t know what the he housing allowance is now but I know military people buying million dollar houses. It just makes me go how the hell are you doing that?
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It’s not really military, it’s all the intel/defense contractors. If you work in IT and have a clearance, you can make $$$$$
 
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