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NearWessSideHussra
PostPosted: Fri May 25, 2012 5:57 pm 
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http://www.chicagotribune.com/business/ ... 0367.story

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The number of underwater homeowners varies by county, as do the paper losses. In Cook County, 44.5 percent of homes with a mortgage are underwater, accounting for $37 billion in lost equity, according to Zillow's data.

In DuPage County, only 33.1 percent of homes with a mortgage have negative equity, and those losses translated to about $5 billion. Kendall County had the greatest share of underwater homeowners, at 55.6 percent, but the dollar value of those losses was just over $1 billion.
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Eaglo Jeff
PostPosted: Fri May 25, 2012 6:03 pm 
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I was so tempted to start a "56% of Cook County homeowners with a mortgage don't wear underwear" parody thread........don't everyone thank me at once for not. :wink:


Interesting, but not surprising as far as the article goes.

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sinicalypse
PostPosted: Fri May 25, 2012 6:08 pm 
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* inhales * .....that's a bummer, dude.... * exhales * that's a real bummer... man

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Crystal Lake Hoffy
PostPosted: Fri May 25, 2012 7:04 pm 
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Somewhat in line with this, how accurate is Zillow.com? A friend who builds houses said the estimate was pretty close to actual.

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NearWessSideHussra
PostPosted: Fri May 25, 2012 7:23 pm 
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Hopefully more accurate than the shooter in this story:

http://seattletimes.nwsource.com/html/l ... ng26m.html

tragic.
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redskingreg
PostPosted: Fri May 25, 2012 10:33 pm 
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Crystal Lake Hoffy wrote:
Somewhat in line with this, how accurate is Zillow.com? A friend who builds houses said the estimate was pretty close to actual.


My god, I hope not. Paid $214k two and a half years ago. Zillow says my house is worth $147k currently. Ouch.

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Killer V
PostPosted: Sat May 26, 2012 6:39 am 
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Zillow is dumb.

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spanky
PostPosted: Sat May 26, 2012 6:47 am 
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Crystal Lake Hoffy wrote:
Somewhat in line with this, how accurate is Zillow.com? A friend who builds houses said the estimate was pretty close to actual.

Horribly inaccurate.

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ChgoSportsFreak
PostPosted: Sat May 26, 2012 7:19 am 
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Zillow buys its data from LPS the largest real estate data resource in the nation.

Appraisal value is extremely hard to generalize as each property is in different conditions and has different upgrades. Zillow uses a combination of recently sold homes with similiar square footage, bedroom and bath as well as the countys assessed value of the property.

Zillow does as good of a job as they can...still can use as an estimate but not a rock solid number.
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sinicalypse
PostPosted: Sat May 26, 2012 8:15 am 
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is being underwater such a bad thing? the snorks seemed to turn out pretty ok.

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good dolphin
PostPosted: Sat May 26, 2012 11:30 am 
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Zillow is as worthless as tits on a toad. Their information is generally incomplete and their market value analysis is less than rudimentary.

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Crystal Lake Hoffy
PostPosted: Sat May 26, 2012 9:42 pm 
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Thanks all, thats good to hear. Zillow showed my house lost $7,000 just this month :shock:

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Killer V
PostPosted: Sun May 27, 2012 5:26 pm 
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Zillow valued the house I sold around $85k less than what it sold for. It valued the house we bought at $ $75k more than we paid.

Either I'm REALLY good at real estate, or Zillow sucks. Which is more likely?

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Crystal Lake Hoffy
PostPosted: Sun May 27, 2012 10:11 pm 
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Killer V wrote:
Zillow valued the house I sold around $85k less than what it sold for. It valued the house we bought at $ $75k more than we paid.

Either I'm REALLY good at real estate, or Zillow sucks. Which is more likely?


You both suck?

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doug - evergreen park
PostPosted: Mon May 28, 2012 7:49 am 
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You suck at Zillow.

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Killer V
PostPosted: Mon May 28, 2012 3:24 pm 
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Duh, winning!

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