From: eganders 
Newsgroups: misc.invest.real-estate
Subject: Zillow "zestimate" and Michigan housing prices
Date: Tue, 20 Nov 2007 05:02:37 -0800 (PST)
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I am looking at Zillow on line and it looks like I will have to do my
own tracking to find the actual value of a house.  I am in the
Southeastern Michigan area.  Have you looked at the "zestimate" versus
the recent sales price?  What the heck good is the zestimate, anyway?
I am finding that it is more "the hoped for value" of a house.  In my
area the zestimate is at least $100,000 more than the recent sales
price of houses.  Take a look at housing prices around the area you
are interested.  Check out the Zillow zestimate and what recent houses
have sold for.  Do you see the same thing?

Now I think you have to price it obviously below the average to even
get a bite since there are so many sellers out there to a lesser
number of buyers and there are so many houses on the market.