(Download) "Zillow's Estimates of Single-Family Housing Values." by Appraisal Journal * eBook PDF Kindle ePub Free

eBook details

Title: Zillow's Estimates of Single-Family Housing Values.
Author : Appraisal Journal
Release Date : January 01, 2010
Genre: Business & Personal Finance,Books,
Pages : * pages
Size : 253 KB

Description

ABSTRACT This article compares Zillow.com's estimates of home values and the actual sale prices of 2045 single-family residential properties sold in Arlington, Texas, in 2006. Zillow indicates that this market is one where its data has its highest accuracy rating. However, the results show the median difference between the Zillow estimate of market value and the actual sale price is 7.92%, and the average overpricing by Zillow is 11.66%. The results also show that Zillow overestimated the value for 40% of the properties by more than 10%, and only 0.88% of the property prices were underestimated by 10% or more. The study suggests that homeowners' estimates of value may be more accurate than Zillow's estimates.