Quote:
Originally Posted by jyl
I think Zillow is decent on trends but not on absolute levels.
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+1
Remember, it's essentially a computer program using an algorithm to try to determine value... you and I know that in the real world there are a lot of factors that impact price which the Zillow engine could not possibly know about or factor into the estimate.
In my town there are some nice sections and some really, really bad sections, and they are quite close to each other. Zillow can't adequately account for the fact that the best comps for a given property aren't necessarily those closest as the crow flies; for example, the ritziest section of town is separated from a bad section by the Merrimack River... the closest comp according to Zillow might be 500 yards away, but anyone who knows the area could tell you that the property values on each side of the river differ by orders of magnitude. Same goes for railroad tracks, major roads, a prison, etc.
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Grant
In the stable: 1938 Buick Special model 41, 1963 Solex 2200, 1973 Vespa Primavera 125, 1974 Vespa Rally 200, 1986 VW Vanagon Syncro Westfalia, 1989 VW Doka Tristar, 1995 Toyota Land Cruiser, 2011 Pursuit 315 OS, 2022 Tesla Y
Gone but not forgotten: 1973 VW Beetle, 1989 Porsche 944, 2008 R56 Mini Cooper S
Last edited by Tishabet; 03-26-2009 at 10:20 AM..
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