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2 Comments
Every month I look at Zillow, it says my San Carlos house is worth less. Are they really that far from reality, or are parts of San Carlos going up in value while others are decreasing?
Hi Rex,
Thanks very much for your comment. Your question is a fair one. In my opinion, yes, Zillow is that far from reality. In many circumstances it is wildly inaccurate in San Carlos. You may want to read a post I did on Zillow and San Carlos just a few months back, where I compared Zestimates against actual sold prices. You can view that post by clicking https://sancarlosblog.com/2011/09/zillow-san-carlos-real-estate/ .
Also, from every data point we have, the bottom of the San Carlos market seems to have been about 8 to 12 months ago….so we were on a downward trend until not that long ago. Depending on Zillow’s formula for computing market trends, it is possible that it has not yet caught up to what is really going on in San Carlos.
Thanks again for the post.
Bob