Comments on: Is that housing statistic really correct? http://reesespiecesofrealestate.com/2008/07/31/is-that-housing-statistic-really-correct/ Fri, 23 Dec 2011 14:01:01 +0000 hourly 1 http://wordpress.com/ By: Elaine Reese http://reesespiecesofrealestate.com/2008/07/31/is-that-housing-statistic-really-correct/#comment-1020 Sun, 10 Aug 2008 13:06:26 +0000 http://elainereese.wordpress.com/?p=1139#comment-1020 Bonnie, sounds like your “Zestimate” was as erroneous as mine. It really sickens me that Zillow is now publishing national housing trends … and worse yet, those trends are being quoted on Inman.

As the saying goes … Garbage In, Garbage Out.

]]> By: Bonnie Erickson http://reesespiecesofrealestate.com/2008/07/31/is-that-housing-statistic-really-correct/#comment-1018 Sun, 10 Aug 2008 05:07:01 +0000 http://elainereese.wordpress.com/?p=1139#comment-1018 I used Zillow to value my own home when we moved to St. Paul. I had to chuckle at the results only because the alternative was to cry! My sale was not recorded on the MLS as we purchased from a former client of mine. Zillow used sales of home in Minneapolis all at least 5 miles away and in totally different neighborhoods. Based on those inaccurate comparable sales, Zillow was off on the value of my home by a huge amount! As an agent, I was appalled. The most distressing part was that the public doesn’t know these companies are inaccurate. Because it’s published in writing, the public assumes it is true!

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