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Zillow Group, Inc. Message Board

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  • livingofftheequity2 livingofftheequity2 Dec 23, 2012 10:10 PM Flag

    Surbiton99, like an angry, petulant child


    hey KB,

    so are you saying that since Z says my house is worth 60% more than actual value, and 150% more that my assessed value, if i tried to sell i wouldn't get the Z price?, lol . . .

    maybe s99 can sue for emotional distress from friends ragging on his home's value, lol . . . surely they jest . . .

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    • LOTE2,
      No, we are not saying that. I can't speak for the others, but what I am saying (and what I think they are saying) is that the Zillow estimate is not to be mistaken for a professional appraisal. The game of valuation has become an especially difficult task given the humongous bubble housing saw in the first part of the last decade followed by the extreme slump and the advent of the "short sale", that for the most part, people should be grateful that their taxes have been artificially manipulated to reflect a lower value (prop 13). Although its become a good time to get into the market, the question remains at what price. What can I sell my house for vs. what can it be rebuilt for vs. how much would it be worth in that highly desirable neighborhood even if it's not!. There is virtually no wage inflation and massive wage readjustment is the new reality, as the legion of unemployed re purposing their careers. What I'm saying here, is that home valuations based on "comp value" are out the window as the system has become too volatile, access too difficult and true value obfuscated by special privileges for the baby boomers who bought when today's dollars cost .25c in real terms. Zillow does the best it can in providing an aggregate accounting of all of these considerations to come up with a ZILLOW estimate. That's it, it's THEIR relative valuation based upon THEIR algorithm. All but the most foolish and childish users of their website realize this and accept it for what it is; no harm, no foul. Realtors know this but still use the site! It's a wonderful tool! As do home buyers and sellers, Mortgage brokers advertise there. Its a great site. You naysayers either have a personal agenda or you're not too bright. In either case, you need to grow up. This stock and this company are going to leave you in the dust - like it or not.

      Sentiment: Strong Buy

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