The Dirt on the Neighbors

[nhboy]

"BEFORE LEAVING ATLANTA for a new job in Rochester, N.Y., Kodak executive Steve Jean made plans to see a restored 19th-century mansion just outside of downtown. He knew the numbers — 4,600 square feet, five bedrooms, an alluring asking price — and he'd seen pictures of gorgeous period details like the stained-glass windows and curved wooden staircase. But Jean had dug up some deeper intelligence that was a little less flattering: The block featured kids cranking their stereos late into the night, homeless men picking through the trash and even the occasional "working girl." So maybe there was a reason it was listed for a mysteriously low $129,000.

Home buyers usually don't get details like this without some serious shoe-leather investigating. But Jean didn't even have to set foot in upstate New York to get the inside dope on this "Spectacular Queen Anne." He learned it all by logging on to Zillow - Real Estate Valuations, Homes for Sale, Free Real Estate Information, where would-be buyers now have a new tool for getting the dish on the neighborhood."

The Dirt on the Neighbors (SmartMoney Magazine) | SmartMoney.com

 

[Sonsie]

Wow, that site evaluated my home at over $200K more than I paid for it. Interesting site but I certainly won't be going on to badmouth my neighborhood, it'll just hurt property values.

 

[Bronwyn]

Wow, that site evaluated my home at over $200K more than I paid for it. Interesting site but I certainly won't be going on to badmouth my neighborhood, it'll just hurt property values.

I can't imagine very many people taking the time to log on there and putting bad comments about their neighborhood. If you think you will find out all the "dirt" and there is nothing... you just might believe you are moving to the perfect place, a false sense of security. Do your own homework and look up the Sex offender registry before moving any where. Also, you will have driven by the house and through the neighborhood. Open your eyes and look what the houses around you look like and how well they are taken care of. Don't ingnore warning signs.

 

[beerlover]

I would take results from that site with a grain of salt... It had my house listed at about half of the actual square footage, so my value was much lower than it actually is. I wonder where they get the specs on the homes...

 

[Patch Tuesday]

I would take results from that site with a grain of salt... It had my house listed at about half of the actual square footage, so my value was much lower than it actually is. I wonder where they get the specs on the homes...

The tax records supposedly...

 

[refi-rep]

I would take results from that site with a grain of salt... It had my house listed at about half of the actual square footage, so my value was much lower than it actually is. I wonder where they get the specs on the homes...

I can tell you the site is often off by as much as 50k plus or minus when it comes to an actual appraisal, it depends yes on where you live but also on what upgrades or modifications you ve made to the home/property in question.

 

[Patch Tuesday]

Good observation Refi...

I can tell you the site is often off by as much as 50k plus or minus when it comes to an actual appraisal, it depends yes on where you live but also on what upgrades or modifications you ve made to the home/property in question.

From what I've observed, it's pretty accurate in cookie cutter subdivisions and town-home developments where there is little variation in the houses or lot size.

For rural houses it's not to be trusted...

 

[nhboy]

Do your own homework and look up the Sex offender registry before moving any where. Also, you will have driven by the house and through the neighborhood. Open your eyes and look what the houses around you look like and how well they are taken care of. Don't ingnore warning signs.

I agree, always good advice. You may want to talk to other homeowners in the vicinity too.