Finally, The Wall Street Journal reports on the murky business of Internet home valuations.
Read all about it> From WSJ.com
By ALYSSA ABKOWITZ
How to Figure the Fuzzy Math of Internet Home Values
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Zillow’s zestimates is a subject that is near and dear to my heart. So near and dear that I’ve railed about it for years now. Why? Because here in the Tucson Foothills zestimates are not accurate and they’re not dependable and they can be very misleading.
And surprisingly, in the course criticizing zestimates I’ve taken some heat from readers of this blog. And while they didn’t necessarily disagree about the lack of accuracy of zestimates, they still defended Zillow. Why? Because they like Zillow, they like it a lot, for all the other fun and useful tools and information that Zillow brings to the party.
And because until Zillow came along, the Realtor® organization held all the cards and they held them very close and only doled out information as they saw fit and, often, only when and how it served their purposes. ‘It’s a great time to buy …’ho-ho-ho
By putting all that information in the hands of consumers Zillow has changed the game, big time, and in doing so they also forced the Realtor® association to either wake up and get with it or go the way of other dinosaurs.
And that’s all great and good, but I still don’t like zestimates, not for here in the foothills. Because, at best, they’re still hit or miss.
here are a few of my past rants on the subject of zestimates in the Tucson Foothills;
it’s been awhile, (and things are slow) so let’s check in with Zillow
(check out the comments)
more on zestimates vs reality
and finally,
checking in with Zillow
There are more, but why beat a dead horse.
In a comment to one my posts, a reader (Rebecca @ www.littlered.com) offered what I think is the most apt advice on how to approach zestimates,
“ the zestimate is a fun toy -- a strange barometer not unlike a horoscope that shouldn't have too much stock put in it. when it makes you happy, that's great. but don't let it get you down”
see thefoothillsToday.com
to find your Tucson Foothills home
