Posted on 12/18/2024 9:03:32 AM PST by Angelino97
The Zestimate is arguably the most popular — and polarizing — number in real estate. An entire generation of homeowners doesn't know life without the algorithm; some obsessively track its output as they would a stock portfolio or the price of bitcoin...
Many industry insiders regard the number as a starting point at best and dangerously misguided at worst. Real-estate agents recount arguments with sellers who reject their pricing advice, choosing to take the Zestimate as the word of God. One meme likens its disciples to adults who still believe in Santa.
Zillow itself lost hundreds of millions of dollars during the pandemic when it relied on its algorithm to buy homes at inflated prices, part of an ill-fated attempt to flip homes at scale.
The Zestimate is one of a slew of automated valuation models that are increasingly used by banks, investors, and laypeople to estimate the value of homes. No other model, however, has wormed its way into our culture like the Zestimate. The model is prone to errors that render it more of an amusement than a serious pricing tool...
The Zestimate is both everywhere and an enigma. About 104 million homes, or 71% of the US housing stock, have a dollar figure hovering above them on Zillow's website...
Just how accurate are those numbers? Until the house trades hands, it's impossible to say. Zillow's own explanation of the methodology can be misleading. The model, the company says, is based on thousands of data points from public sources like county records, tax documents, and multiple listing services — local databases used by real-estate agents where most homes are advertised for sale.
Zillow's formula also incorporates user-submitted info: If you get a fancy new kitchen, your Zestimate might see a nice bump if you let the company know...
(Excerpt) Read more at msn.com ...
We own the home where we live in Arizona and another in North Carolina where my wife’s mother lives. We’re always getting calls wanting us to sell one or the other. My wife hangs up, before or after swearing at them, but I always tell them the price is $10 million cash up front. Neither method stops the calls, though.
LOL! I don’t live or vote in L.A. Don’t complain about your problems to me.
“Here you are once again defending corrupt government. You’re a hack.”
I live in Florida in a red county and red congressional district.
Make America Florida.
“A street cop in LA can make 100k per year”
Make your city safer and cops could be hired for less.
That’s just for retirement slick...lol
Try to keep up tex...
Here you are once again defending corrupt government.
Yep, you’re always here defending rotten corrupt government. And why you’re a never Trump hack. Or are now pretending to be a big Trump supporter. Sure thing.
Infrastructure is in. I don’t call cops and I’ve never had a fire...Street lights are in. Schools are built.
I see you mentioned the corrupt courts/records.
Last time I was in an Orange County court, I noted they had more cash registers than a Super Walmart. It was unreal and the lines were long...lol
You bet, and if they all had to write a giant check to government at the end of the year for all these punitive taxes, there would be a violent revolt against this corrupt costly government.
The corrupt in government are not stupid. They know the can only take a chunk of cash at a time, otherwise the people would revolt. They fully understand this. That's why people need to add up everything they pay in taxes during the year, so they can see for themselves what an epic con-job government has become.
Info for you L.A. snobs.
I get TexasTrumpHater, if you speak out against corrupt government you’re a, “Snob”.
Whooa...
The sin taxes (alcohol, tobacco, now marijuana) are particularly sneaky.
They squeeze many of the poorest among us—while lecturing them (in the case of alcohol and tobacco) on how evil they are at the same time.
You just can’t get sleazier than that.
I live in Florida in a red county and red congressional district.
Make America Florida.
Last week I went to the GG e DMV. Third in line to get number, less than five minute wait.
Make America Florida
I notice that you don’t quote my posts which allows you to misrepresent what I actually posted.
Typical L.A. leftist snob tactic.
I just got new county assessment, etc. Last month.
ZILLOW is not using COUNTY numbers-—to the the dollar.
They won’t accept it.
I have two houses on acreage.
That doesn’t fit some yuppies algorithm.
Lest you can’t comprehend, I have a Computer Science BS degree.
“They won’t accept it.”
I have edited three houses on Zillow.
“Lest you can’t comprehend, I have a Computer Science BS degree.”
No programming required.
Three houses on the same TAX property?
They don’t allow it on Hawaii land.
Does zillow list it as Triplex, Multi-family with the summed sq ft, rooms, etc?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.