I am not bragging. I have 3 generations living in my house including an 8 year old granddaughter.

On the plus side if not for them I would have sold my way too big house before this boom and missed out on some massive appreciation.

When I am gone my heirs will be in good shape unless there is a 100% inheritance tax with no loopholes (always a possibility in this clown world).

There are plenty of starter houses at starter house prices.  "Kids" should not be hoping to buy what we olders have now.

Generally speaking, yes, zillow is fairly on point. I always  tell people not to take it as a guarantee though. However it is also undeniable that I can usually come up with the same numbers as zillow. At least around here though, it's slow to adapt to local market conditions. Prices have come down more than the zestimates, but not drastically.

It's not like it's magic. It's based off of the same basic data an appraiser or real estate agent would use. It tends to be most accurate with cookie cutter suburban houses  if you have a more unique property, then I wouldn't lean on it as much.

Last bubble my house in CA went from 177 to over 600 in 8 years.  Hell yeah i sold and bailed that retard fest.  When everyone in your neighborhood wouldn't be able to afford the current price of their house, it's a bubble and the smart ones who can bail.

Zillow estimates also go off asking prices.  Famous guy out here just put his place on the market asking 20m.  Before that Zillow had the estimate at 8m.  It's fraud, but everyone is ok with it because they make a profit off it.  Appraiser has to make up nonsense to get future work, agent and lender take their cut.  Local government increases property taxes to shore up their salaries and pensions.  Everyone makes money off the borrowers funeral.

Bought at 225k 18 years ago, I have put some good money in to it over the years. Apparently ours has gained 23k in the last month lol. Ironically Zillow had us way under valued for years, they had us right at tax assessment value which is usually way under current market.

What in the ever-loving fuck is that shit.  If there was ever a reason to move, there it is.

NY or NJ?

Please show us how much your property taxes have gone up as well.

Wasn't zillow buying up all the single family homes and price fixing them to drive up prices?

99% of us bought our homes to live in.
We are not flippers and talk to potatohead about why they are worth what they are valued at now.
He’s the one bustin out billion after billion.

Just got notified today our mortgage payment was going up $250.

I guess the extra value is nice but I’m not selling anytime soon, so fuck.

Bubble getting tight.

LOL, this.  

Wages barely keep up with inflation, average student loan debt is ~$37k, you can't get a new car cheaper than about $19k, and interest rates are pushing 8%.  Maybe its easier for me to see because I'm younger and just barely past the cutoff line for this shit sandwich; but the divide is real and hurdle to get over is WAY bigger now than it was for me out of college just 17 years ago. If I was fresh out of school today with typical debt amounts making what our department is offering new hires it'd be super discouraging to try and live like how I lived when I got of college.

The American dream as it was known from the 60's-00's is pretty much dead.  The places to live with reasonable access to jobs are the places seeing the highest jumps in home prices, so if you're trying to start out and make a family and don't already have the home, the car, or student loans tackled and under your belt ... you've pretty much got no chance unless you're putting in 60-80 hour weeks or have a very high compensating job.  It can happen here and there, but for the average person with average opportunities and average connections it's just too out of reach.  Something has to give and for decades it's been at the expense of having kids later and later and lower birth rates... but now pushing kids off until later isn't enough because home prices rise faster than people can save for them.  If that $200k home you're looking at saving up for to start your family is appreciating 1-2% a month (like they are around here even in cheap flyover-state ohio) that house is getting $2000-4000 more expensive every month.  How likely is it that people with typical entry-level salaries who are already paying rent along with car & student loans are going to be able to squirrel away beyond that much appreciation each month to actually gain ground on purchasing that house?  It's untenable.


And boomers wonder why so many zoomers are shacking up with communist causes.  I don't even want to KNOW what the generation after zoomers is going to think (gen alpha?)... at least zoomers could be raised with the notion of the american dream, even if it was a lie.  Those alphas are going to grow up without even that lie/pipedream.

I just looked at my modest house I bought 10.5yrs ago which still needs some TLC and Zillow estimates it at almost double what I paid for it

We sold 32 days ago. The Zillow number changed to match our posting

I refinanced in 2021 and the appraisal came in at $375K which I thought was nuts. Zillow now shows a range from $500-560k. I live there and I wouldn't pay that much for it

Was it higher or lower before your posting?

I've noticed in my area when a house goes on the market the Zillow estimate will jump up to the for-sale price if it was significantly below.

The Zillow is always all over the place.

I went from living in a good cost of living area to absolute fucking shit cost of living due to us somehow being in a race with ourselves to build any dumb bullshit on every last piece of grass out here.

Bought a custom 1-off 5500 sq ft house with pool, basketball court, multiple patios, giant garage, etc for 560k in 2012. Going off recent comps from literally across the street as well as the asking price on a for sale home on my street, my 'value' right now is 2.4 million.

We're going to run into a giant problem in southern Utah in the next decade as A. no one from here can actually afford to fucking live here B. everyone moving here are out of state buyers that are going to die within the next 10 years and C. there is absolutely ZERO industry here other than bullshit fast food, strip mall hourly type of jobs and construction. You either bring a job with you, are retired, or you're working at 1 of the 59890809789 construction firms that will go bankrupt as soon as this shit implodes or at the car wash. Who can fucking pay for a $5 million dollar house let alone afford the property taxes?

So when all of the boomers who moved here and ruined everything die in the next 10 years, their poor as fuck kids who can't afford to keep the home will all try to sell them to....I'm not quite sure who at that point. Chances are we'll go from this giant 'housing shortage' to take your pick of dilapidated McMansion.

Society here is going through a fundamental change.  We'll have a large segment of the population that feels they can't get ahead and will beg for the government to fix it.  The haves and the have nots.  It's how you get communism and full-on socialism.  

I bought my current house in 2020 for 589K.  Comps in the neighborhood have our value around 1.1 million (900K on Zillow).  With about 100K of mortgage paid off since then, I've gained about 600K in equity in 4 years.

I am just glad the county has placed a much lower value than Zillow.

My house has gone up $117,000.
Still small to what others have posted.
I guess: Location, Location, Location.

Got this house for, I think, $165k in 2016... Zillow says it's $295k now.  So ~79% increase in 8 years.

And zillow says it's seen a +$3080 in the last 30 days, so it will have officially "doubled" in only 11 more months.

Check out car prices for some real fun.

Midwest. FL property significantly more valuable. Maybe double. The tax is roughly a quarter.

FL - Insurances and others costs are significantly higher. Well it's self insured predominately now.

Great news is the appreciation of both. 10 years of taxes would be a fraction of the appreciation since purchase. Relo really isn't necessary, not desired, lol not really even practically possible. But yea, it can always be worse.

@LRShooter

You are gonna do a AK thread right?

Bought our home in 2012 for $260k. Sold it in '21 for $875k.

Yeah tell me about it.   This house 1995 built 1475 square foot, $165,000 in 2018, I put $100,000 down.  

Today its worth $313,000.  I couldn't afford to buy it today.

The FL homeowners insurance is eventually going to run me out of my own house.

Zillow values are odd and I’m not sure how valid they are. If it shows that your house is worth say $400k and you list it for sale at $475k the new Zillow value will likely jump up to around $460k. If you lower your price later down to $460k, the new Zillow value will drop to around $445k. My house is listed and I’ve noticed that odd lower valuation that follows the listed price of a home at a few percent less. While looking at other properties to buy after mine sells, I’ve noticed that the Zillow estimate is almost never ever higher than a listed for sale price and is always $10k to $20k less.

Back in the day, I bought a new SKS for about $65.  

Still thinking about it.  Indy 500 is out.

Not even $200k. More than what was paid for it, though.

Paid $60K for the house, barn, shop and 10 acres in 1999.  Shows $236K now.

Bought for 385k in 2016, great locked-in rate. 100k left on the mortgage. Current estimate puts us around 800k-850k. Tempting to downsize and move farther away from the MA border.

Otherwise I'm broke every paycheck.

A lot of us are doing quite well, but we're still much closer to becoming a have not than we are to being part of the elite "have's".  We're in this squishy middle between the have nots and people that will never have to worry about inflation.

I'd like to retire in a few years. My house is paid for, but I'm seeing a lot of costs go up. I just paid my house insurance. Last year it was $3500, and this year it's $4200. I had a new roof put on last year for $32,000 (covered by insurance).  Waiting to see what my property taxes look like. Last year it was $9000.

Probably because Zillow is working off squishy numbers and estimates, and when a house hits the market for real then actual data becomes available and things like new roofs/appliances, finished basements/attics, recent kitchen/bathroom updates, expansions/additions, etc. are factored in.  Lots of people add value to their homes while living there but Zillow can't just assume all those things have been done to homes that have been off the market for a decade, but when you list a home for sale all that info made public is brought up to date.

You're missing little at Indy anymore. Hope you get to drive up. GL man.

Nearly doubled in 10 years.

Sell.  Move to a nice $300k house in the midwest that has good gun laws.  Dump the excess $300k into your retirement portfolio or buy up another nearby and generate passive income.  Shit, or you could just by a nice tract of rural land and build a custom home on it for 400-500k... get away from it all.

That's what I would do if I lived in or west of the rocky mountains because in the next 10 years they are just going to get more Californicated.

Bootstraps!

Expel 20 million illegals.
20 million beds are now vacant.
Rents plummet.
Housing prices because it becomes so cheap to rent.

I've gone up close to $500k in 8 years.

Pretty wild.

If you log in you can claim it as your home and update the info. Sometimes it takes a bit for them to verify.

I get a kick out of checking my former homes on Zillow.

The one I sold in 2001 for $450,000 in Arnold, Maryland is now valued at 970,000.
The one I sold in Pembroke Pines Florida in 2004 for $350,000 is now valued at 1.2 million.

I couldn't buy either one of them today.

Almost exactly what we experienced with our home. And the other homes in our neighborhood are selling for $370k+ so I believe it.

Sure, do that, buy the house, and then switch to bargain cat food when your school taxes and homeowners insurance double and triple.

And buy that 20 year-old house, and need some maintenance.

#Ididntvoteforthisshit

I spent 37K on 49 acres of property in southeast Texas.  I put about 90K into building a house on  it.  
Zillow says it's worth 785K.  
I need to talk to my tax accountant buddy and see what the tax ramifications are.

I’m 38