Anibal Affiliates, Inc. MI & FL 2nd generation realty brokerage & consulting ! || Set up a review now to answer questions as: time to sell?/buy? refi? ______ Tap our referral network to help preserve & build your net worth.

Tuesday, September 11, 2007

Zillow - Entertaining but near Zilch value

New Tool Highlight:
http://www.zillow.com

Usefulness:
This site has quick mapping features, shows a very delayed on-market & solds info & some details from the assessors card: year built, etc.

Caution:
I found the assessor info significantly inaccurate: wrong # of baths, wrong s/f, etc.
Sales include mortgage company buy backs & loan balance, not a real sale.
"Values" show the bouncing ball the from the assessor office - no where close to realistic.

Bottom line:
After browsing the site, contact us with your info if you need
  • a property tax protest
  • a market analysis
  • a buyer agent with current MLS data to represent you in purchase negotiations

1 comment:

Drew Meyers said...

Hey, it's Drew from Zillow-
Just a couple quick points to make. Regarding inaccurate facts from the home details, Zillow allows homeowners to edit the home facts about a home if they are incorrect/incomplete. We'll be using owner facts to improve zestimate accuracy within the next couple months, but we're not quite there yet.

Nationwide, our median margin of error is 7.2%.

If you let me know which addresses you were specifically looking at, I can look into the transactions on those properties (what types they are).

That said, a Zestimate is not a replacement for a CMA or appraisal by a local professional who has been to the property.