Comments for Investor Intelligence

Comment on Zillow Introduces (Accurate) Rental Zestimates by Ryan Hinricher

Ryan Hinricher — Sat, 12 Mar 2011 14:44:38 +0000

Marney, I’ve seen instances where it isn’t accurate as well, especially where you have large price variances in neighborhoods. In typical areas where one sees a lot of subdivisions and similar type and age of construction it is much more accurate. Zillow continues to be a debate for all of us seeking a better way to value homes. I see even more variance with appraisals 50% or more between 3 appraisals on the same property.

Thanks for your comment!

Comment on Zillow Introduces (Accurate) Rental Zestimates by Marney Kirk

Marney Kirk — Sat, 12 Mar 2011 14:16:39 +0000

Hi Ryan,

You are very lucky that your Zestimates are close — even on the rental end! My area is often very off — in both directions!

I just checked one of my properties and the rent that they got until recently when listing for sale was much less than Zillow showed. I checked the % off on the site, and only 53.2% of the time are they within 10% of the rent price — which makes sense, but that is pretty far off — and it is still only 1/2 of the time!

In areas where houses are very different (which is my area), the Zestimates aren’t close, which causes confusion. (A recent sale Zillow had a Zestimate of $976,000. It sold for $2.1 Million.)

I’ve discussed this with a few people at Zillow, and they did say that when houses are varied in an area, the formula will not come up with a correct assessment.

I wish Zillow were more accurate in our area. It just goes to show how real estate truly is very local!

Comment on The Buy High Sell Low Crowd is Back by Alex Cortez

Alex Cortez — Wed, 02 Feb 2011 18:36:36 +0000

Good points, Ryan. The stock market isn’t necessarily the best place to invest right now, as real estate has many more advantages (i.e. tax deductions) and potential for long-term growth.

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Comment on Housing Contraction Occurring at Rapid Pace in Memphis by Memphis Tops List for Real Estate Steals | Investor Nation Insider

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