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/biz/ - Business & Finance

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53692042 No.53692042 [Reply] [Original]

Don't check the Zestimate.

>> No.53692064

>>53692042
How are those Zestimates actually computed?

>> No.53692099
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53692099

>>53692064

>> No.53692115

>>53692064
Its just an educated guess based on their own data, so price of similiar houses in the neighborhood, adjusted for a few parameters like size and rooms i guess

>> No.53692121

>>53692042
Real estate is still doing well...

>what's your updated timeline to the crash

>> No.53692132

>>53692115
*selling prices

>> No.53692206

>>53692115
Makes sense, but how do we know what "statistical adjustments" they make? They sure love theirs statistical adjustments, hehe. It's how -2.5M jobs turn into +500K jobs in the BLS jobs report. It's just what the statistical adjustment says.
Given that Zillow has an interest in getting people onto their platform, there is at least an incentive to have these zestimates be high so potential sellers thing they can get a good price for their houses.

>> No.53692221

>>53692064
most likely comps with some proprietary massaging. real estate is priced on what "comparable" homes are sold at, so it's necessarily a lagging indicator.