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Zestimate on my former house

November 23rd, 2008 at 12:04 pm

Zillow's "Zestimate" on my former house is now 86% of what we sold it for, and since real estate prices in the Seattle area started turning down later than much of the rest of the country, I think it's going to fall even more. The folks who bought it only put 10% down, which I don't think is necessarily a bad thing if you're buying a your starter home, but our former home was not a starter home by most people's standards (even a couple years ago). When we sold, I joked to my neighbor that we might be back if we re-purchased our old home at foreclosure auction, but I really would hate to see that happen.

6 Responses to “Zestimate on my former house”

  1. analise Says:

    I "zillowed" the house we sold in 2006 and it is now valued at 77% of what we sold it for... and every time I check, it has dropped more. The buyers put down 25%, so this gave them a cushion. It will be a while before they have equity again, but at least the house is not worth too much less than the loan. It's scary. Here in Silicon Valley, the housing bubble didn't just burst, it exploded.

  2. thriftorama Says:

    I just checked my first house. We sold it in March 2006 and it's up $10,000! Not too bad. I'm happy for them. The house is in flood-free Uptown New Orleans, and New Orleans never follows any economic rules.

  3. Ms. Pearl Says:

    I live in rural Ohio and I can't say home values have really dropped but that they very stagnant. Houses under 100k are selling really well...yes we have quite a few of those around here. We paid over 200k for our house and there is NO WAY we could ever get it sold at this time. The economy around here is HORRIBLE. We have a lot of blue collar factory workers and a tremendous % are losing their jobs. Very Scary.

  4. Koppur Says:

    My Mums and Dad bought their house in Dec 1979 for $35K I just checked it and it is Zestimated at $212K. Not bad!

  5. Amber Says:

    I hope people will be able to make sacrifices in order to stay in their homes...it's tough

  6. scfr Says:

    Great to hear from you Amber! Never did hear how things worked out with the house YOU were trying for ...

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