Monday, February 9, 2009

Some thoughts on Zillow

Zillow doesn't seem to be able to account for subtle differences like neighborhood. neighborhoods seperated by less than a mile could be substantially different. It also doesn't seem to account for the value of larger properties, which, where I live, seems to be valued by actual buyers. Also quality of construction and custom touches to construction. Regarding square footage - at some point additional square footage doesn't add to value. It might even subtract in the age of expensive energy. Also street presence or "charm" and views don't seem to be accounted for. In short - unless its an area of "cookie cutter" homes with similar lots, calculating the value of a home seems pretty hard to do