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Have you compared Zillow estimates to Trulia and Cyberhomes?
Nah..have you? If so what is your observation? By the way, how does one check the estimate on Trulia? I have been so comfortable with Zillow that I never bothered much with the other sites that you mentioned. Actually never knew a site called cyberhomes existed even, till you mentioned it! I did check my home and the Phoenix homes in Cyberhomes just now and there is a huge difference between Zestimate and CyberEstimate..my opinion is that Zestimates better represents the home value. What was yours?
Leigh
2009 Oct 13, 11:24am
Oooops, my mistake on Trulia. From my experience on w/ Cyberhomes I find it to be more right on in my neck of the woods and Zillow to be wayyy too generous with values. Your best bet is to experiement with some properties that you are familiar with.
In the case of my home, Cyberhomes had the offer price on my home as the Estimate(I put it up for sale a couple months ago), while Zillow had the list price as the Zestimate. The Phoenix properties were estimated higher by Cyberhomes, while Zestimate was lower. With a couple of Northeast and California properties, Zillow was more generous while Cyberhomes was stingier. So, I would go with your assessment. I guess sellers will quote Zillow while buyers will quote Cyberhomes!!
Has anyone noticed this? I have a few properties in my Zillow favorites which are located in different states like CA, AZ, MA, TX, MD and NJ. I had noticed an increase in their Zestimates in the last few months. But I failed to notice that the prices of the 2 homes that are located in Phoenix had actually continued to fall! I noticed that the fall was to the tune of almost 3% just in the last 30 days in both the homes.  Bay area homes Zestimates have been slowly climbing up, although they are still at 2003 levels. Same story for MA, MD and NJ homes. Actually Zestimates of Northeast homes seem to have held up rather solidly throughout the downturn! TX never had a bubble and so they have been the steadiest throughout the period. All these homes are actually owned by my friends. One of the Phoenix homeowners who is underwater by almost 40% has stopped making the mortgage payments, while (I presume) still continuing to collect the rent, as the last info I had on the home was that it had been rented out!
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