If you own a house, want to own a house or have ever been in a house, you may want to check out Zillow.com. It’s a simple site, really: You type in an address, and it will give you an estimated value, using recent sales and other data.
While some of the values are a bit strange, the site seems fairly accurate. It does a fantastic job of showing that last year’s Tucson real estate bubble has at least deflated, if not necessarily burst.
Case in point: My house went down in value by $92 in the last week, so says Zillow. Sigh.
This article appears in Jun 29 – Jul 5, 2006.
Zillow rocks, I use it all the time. If you or anyone you know is interested in real estate investing in tucson, come to a cashflow meeting. We are free at the borders books at oracle and limberlost at 730pm fridays. check us out at tucsoninvestors.com.
All I know about Zillow is that they say my house has 1.75 bathrooms. I would like to know where this .75 bathroom is— since it’s been neglected for four years, it probably needs the Kaboom Bowl Blaster like this instant. But anyway, I can’t really even consider what Zillow says about my house, ’cause it’s based partially on the existence of an imaginary bathroom. Now that ain’t accurate.
Zillow is still in it’s infancy. Once it is refined, it will be extremely accurate. These kind of tools will bring on the demise of Real Estate agents. Speaking of demise..how is that RE market in Tucson? I just read an article saying it is one of the top overvalued housing markets in the US. High inventory, slow sales and rising rates? Get ready for the dive boys. Forget about the cash flow meetings. I suggest you enroll back in college and finish a degree. You will be needing it.