From: "John Mianowski" 
Newsgroups: misc.invest.real-estate
Subject: Re: Zillow great estimate home value
Date: 29 Mar 2006 08:04:34 -0800
   posting-account=43j70QwAAACdvF6wRMPVPZD290tNI4nn


SanDiegoR23E@yahoo.com wrote:
> Zillow.com is a great site to check home value (not necessarily meaning
> home price). It is not an accurate science, but it is a good estimate.
> It is an excellent starting point. And it is especially valuable for
> home buyers. For home owners/sellers, their feeling may be mixed. Some
> were pleasantly surprised by the higher estimated home value; others
> were disturbed. It is easy to guess who the disturbed ones are: their
> home Zestimate numbers were lower than anticipated or what they wished
> for. But why would their anticipated numbers (even though it may come
> from home appraisal) have to be correct while the Zestimate numbers
> wrong? Why not the other way around, that their home is overpriced, and
> the appraisal is a bubble price, and the Zillow's numbers are actually
> more reasonable? Zillow may not include lake view, your home=B4s well
> maintained or special feature, but how much value is it really going to
> add to the total?
>
> Again, Zillow's Zestimate number may not be accurate, but it is a great
> estimate.

What?!?

You should be working for the gov't, using language like that!  If it's
not accurate, what good (never mind "great") is it?
.=2E.

Any estimate is nothing more than that - an estimate.  The only way to
determine the true value of anything is to see what somebody is willing
to pay in an arms-length transaction.

JM