Thursday, June 12, 2008

I've never paid too much attention on house valuations on Some of the numbers they come up with seemed unrelated to reality. I looked up my old house today and the Zestimate® is $928,500.

The dark blue line is supposed to represent the value of the house and the light blue & orange lines represent ZIP 92821 and the city of Brea respectively. The round $ symbol is where we sold the house for $646,000 in May-06.

1. Not sure what accounts for the crazy spike in prices at the far right of the chart but it's probably not correct.

2. The house across the street is for sale and listed at $539,900. The current owner bought it in Feb-08 for $530,000 so there's not much change. I checked out the house before and the interior is nicer than my old house; the floorplan and size is identical. The value is $1,011,000 or about double the list price. Crazy!

3. From the ZIP and city averages, it appears that we sold at the peak. The new owners are ~$125,000 underwater on their purchase. :(

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