ZILLOW- AND IT'S NASTY EFFECTS

Zillow- the real estate website that sets itself up to be the end all definition of any given piece of real estates' value is absolute hog-wash.

Please, stop showing me "Zestimates"! ( That's what they call their estimated value of any given home).

Here is the problem. Zillow, is nothing more that a computer data base. It collects the information on past sales and present listings. It has a radius of what it includes in the data that it sifts through to come up with what it thinks your (on any given property) is worth. Now, think about it. We live in Memphis. There are HUGE differences in neighborhood values- just going from one block to another- much less if you include things in, say, a two mile radius.

As I sit here writing this in Harbor Town Proper- that radius would include the Lenox Homes to the north of me on Mud Island, Waters Edge, Island Crest, the condos on the south side of the bridge, Uptown, the Pinch, and the homes along North Parkway. These are all VERY different neighborhoods, with VERY different home values. BUT Zillow does NOT differentiate. It can't. It's just a computer program.

(If we have BIG trouble with it here - just imagine what can happen in Midtown!!!)

If you don't get a real estate professional who knows what is going on in the area that you are looking in- and you rely on these computer sites- you are going to get BAD information. And don't just click the button to the realtor who is advertising on Zillow. They just paid for that- it does not mean that they know anything about a given area! Do your homework and use your heads. You should know that if you are looking at a home in the middle of a run-down neighborhood with a crack house next door , the property is not worth a gojillioon dollars, and conversely, a beautiful custom home in Harbor Town proper is worth more than a nondescript, mass produced tract home.

But Zillow- won't tell you that because it CAN'T. Zillow has never been here. Zillow has never seen the houses. Zillow doesn't understand that one home may have a beautiful view and exquisite finishes and another home has builder grade finishes that need replacing. It compares oranges to apples. So, please, don't buy into its notion. It is not accurate. Instead, rely on the advise of a smart, savvy realtor who is tuned into the area that you are interested in. Let them help you form an opinion of price. There really is no substitute.

Personally, I think that Zillow has done a lot of damage. I think that they should not be allowed to operate as they do. I believe that they have done more damage to real estate values that anyone can imagine. And I would like to see them gone. But Zillow is not the only offender- so watch out and use some common sense when making what will likely be the most expensive purchase of you life.

In the meantime- I know that if you can't beat em' join em'- so soon you will see my smiling face on the Zillow page and you will be able to click on me- and I will help you sort out what is fact and what is fiction.