Zestimate Forecast

What’s the 1-year zestimate forecast for you guys? My San Jose house’s value is forecast to only grow by 0.6% this year… :cry: But Sacramento seems to growing strong, with a forecast growth rate of 5.1%. Oakland is 2.5%.

I don’t think these numbers are accurate at all. I look at them mostly for entertainment…

Correct, they are not at all accurate or meaningful.

I see most of the appreciation -0.1% to 0.6% !!

What’s your guesstimate then?

The value estimate is pretty accurate I think. Much better than Redfin’s. So is their rent estimate. Except for one house in San Francisco which Zillow’s zestimate is much higher for some reason. For 1-year projection I have no idea how things will turn out. But in the past my impression is that their forecast was pretty crappy. I don’t have actual data to prove one way or another though.

Last 30 days, mine went up 2.2%. Sunset, the neighborhood that gives and gives…

Fake estimate!

They may not be accurate, but it’s better than any other automated service. Both in terms of forecast and current value. I assume they have a richer data set and a more advanced algorithm than most utilize. The forecast and the current values are changing all the time, it’s pretty similar to how things operate in the real world (just like a stock ticker).

0% in the peninsula.

Probably low actually. Honestly, my Sunset home would go high if recent sales are any indication. I would not be surprised if I got close to that Dutch Colonial out on 42nd that sold for 2M. I am in a way better location and my home would be a cash cow for someone wanting to do rental (you have the main home with TWO additional legal separate private living quarters that are far apart from each other. And I am not talking about dinky, low ceiling dark inlaws, baby. Nice, high ceiling, sun filled private spaces that have separate entrances that could be used as offices, dens, or keep teenaged kids or elderly parents under the same roof yet at arms length. Imagine the options one could have. Could this have been bought in a conventional listing? Uh no. Private purchase where no for sale sign ever went up. Bang!

Dude, looks like you are set for life. Bay Area real estate never disappoints, in the long run.

I sing the praises of my realtor contact all the time who told me, “go check it out”. I fully expect to give it back to him to sell at full commission one day even though he no longer is in SF proper. I still have the email. Had it gone to open market, the place would have been overrun by contractors who saw the same potential as I did. That is why I suggest hooking up with a realtor who works at a large firm (aka Coldwell Banker). They have too many contacts inhouse that if they can do a private deal and keep it all to themselves, why not? Believe me, their peers were livid that they kept this from the open market and a higher price. Oh well…

It doesn’t matter what your house is worth on zillow…Thanks to prop 13 house value means nothing till you sell, and then only the buyers value counts…The rest is bragging rights or nosyness , like when you check up on friends house values…

Interesting, I actually never do that…I’ll do other crazy stuff but not that. Maybe because I have a good feel of what things are worth anyway. Why do I need to check on my buddy’s place in Palo Alto when we are like blood brothers? There is too much other interesting real estate related stuff out there to explore…

If you get invited to a party where you never been before, it’s fun to zillow the house. …sometimes there are even pictures

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Hey “dudes”!
Why don’t you get a phone number and call each other? As I do with some posters I met in Redfin? :stuck_out_tongue_winking_eye:

I just checked my home.
$670K on Redfin.
$645K on Zillow.

A house in the hood went for $605K 8 months ago. It was a 3/1. Mine is 4/2

Not accurate at all. Mine was “remodeled” in 2011. No home around has gone through it at all.

First of all, @buyinghouse, it is at best an estimate of what your place is worth. Keep in mind if your remodeling was on the hush-hush, how would anyone know about your updated condition unless you updated the info on these sites yourself for something big like adding a bedroom for example? The information is only as good as what the county has on file and if no permits were ever pulled, well… Garage in, garbage out…

The city spent $210K on this “remodel”. With permits and whatever. Although, $75K would have made it. You know bureaucrats. :stuck_out_tongue_winking_eye:

What I am saying is that why should be believe anything online when we got to make sure we see it with our own eyes.

Oh, I forgot, my home is 4/2. 2 floors. Until 3 days ago, the newest in the block. A for sale one, was fixed days ago. I am watching how it goes, though they say it was sold cash and in a pocket listing sale.

So buyinghouse, what did it go for?

Time to cash in @ buyinghouse. .Tax free $300k-$400k in proceeds…Would go a long way in the midwest…My friend from Michigan is selling her 1800 sf 4/2 on 20 acres for $200k…plus full 1800sf basement. …Raise horses or pot…become a gentleman farmer… $3000 property tax though…or there is always Guatemala. .I bet you can find a nice house there for $100k

Guess which city is the “cowboy capital of the world”? I heard of Oakdale a few times this year.

Maybe buy a ranch in Oakdale and Airbnb as a tourism resort