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Old 11-11-2010, 10:53 PM
 
Location: West of the Catalinas East of the Tortolitas
4,922 posts, read 8,605,880 times
Reputation: 8045

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We bought a condo in OV three years ago and it took a financial hit. It's still nowhere near what we paid for it. The Assessor had it down $70K, and Zillow has it down $25K, so who knows? I think it will take a few more years before it will be back to what we paid for it, although we have put a lot into it....
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Old 11-12-2010, 06:38 AM
 
Location: Tucson
42,831 posts, read 88,356,556 times
Reputation: 22814
Quote:
Originally Posted by Marcy1210 View Post
Zillow has it down $25K
Oh, Zillow can get it down to zero!
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Old 11-12-2010, 09:30 AM
 
Location: Southern Arizona
9,603 posts, read 31,801,589 times
Reputation: 11741
Quote:
Originally Posted by Marcy1210 View Post
We bought a condo in OV three years ago and it took a financial hit. It's still nowhere near what we paid for it. The Assessor had it down $70K, and Zillow has it down $25K, so who knows? I think it will take a few more years before it will be back to what we paid for it, although we have put a lot into it....
Unfortunately, Marcy . . . your scenario is not all that unique.

Personally, I could care less how much Zillow, or any other self-proclaimed expert, sets for the home I purchased to be MY HOME.
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Old 11-13-2010, 02:26 PM
 
7 posts, read 42,419 times
Reputation: 14
Zillow can be far from accurate from actual market value. That is why they list a confidence range that can be 15 or 20% in either direction. Use it a guide, not as a true indicator of market value.
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Old 11-13-2010, 05:09 PM
 
Location: Oro Valley AZ.
1,024 posts, read 2,758,346 times
Reputation: 1196
Quote:
Originally Posted by Canoa Ranch View Post
Zillow can be far from accurate from actual market value. That is why they list a confidence range that can be 15 or 20% in either direction. Use it a guide, not as a true indicator of market value.
Ditto Canoa, And why use Zillow, Real Esate.com etc. for stats when you can get updated, timely and more accurate information from your friendly local realtor.
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Old 11-13-2010, 06:19 PM
 
Location: Tucson
42,831 posts, read 88,356,556 times
Reputation: 22814
Quote:
Originally Posted by RickTucsonHomes View Post
Ditto Canoa, And why use Zillow, Real Esate.com etc. for stats when you can get updated, timely and more accurate information from your friendly local realtor.
Uff, I hate to admit it, but in my case Zillow is right... as much as it sucks...
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Old 11-15-2010, 10:28 PM
 
Location: West of the Catalinas East of the Tortolitas
4,922 posts, read 8,605,880 times
Reputation: 8045
Yeah, Zillow's right about on the numbers for me. There are other units the size of mine in this complex that are on the market for what Zillow has them valued. I'm not interested in selling mine, or even moving, for that matter. I sold my home in CO last Spring for asking price after only 13 days on the market, and this is where I want to be right now, so I'll hang in there and wait out the market. The thought of moving again, when I still have a whole house in a storage unit is not something I want to do!
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Old 11-16-2010, 09:25 AM
 
Location: Tucson
42,831 posts, read 88,356,556 times
Reputation: 22814
Quote:
Originally Posted by Marcy1210 View Post
I sold my home in CO last Spring for asking price after only 13 days on the market, and this is where I want to be right now, so I'll hang in there and wait out the market.
Huh?! I thought you sold it because you decided to live here. Or do you want to be there now BECAUSE you no longer have a home there?! Not judging... I often have such wants myself!
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Old 11-16-2010, 10:49 PM
 
Location: West of the Catalinas East of the Tortolitas
4,922 posts, read 8,605,880 times
Reputation: 8045
No, I sold it because I couldn't afford two places and this condo was much less expensive to maintain. I wouldn't go back there. Hurts too much. Don't want that house ever again. I still have 5 acres adjacent to that house, so I suppose I could pitch a tent and camp there if I got a hankerin'. But, I'm happy here. I like it. It works for me, no downstairs neighbors, and no one else in the 8 plex except snowbirds, it's okay. I would absolutely NOT want to go back to Colorado. I like the state and it's beautiful, but, too much history and too many sad memories, I just couldn't do it. This is where we were happy, and where we were planning on retiring. This is my home.
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Old 11-17-2010, 07:35 AM
 
Location: Granville, OH and Oro Valley, AZ
114 posts, read 205,754 times
Reputation: 203
Have returned from the tour of condos/townhouses in northern Tucson. While I have been to Phoenix many times, this was first visit to Tucson. Packed in a lot of activity while being shown units by "RickTucsonHomes" who posts here and is the real deal. Have no hesitation about suggesting him to others who visit the forum. We prefer Oro Valley but also liked Sabino Canyon. Found a condo on which we intended to make an offer but another couple, who visited the condo 15 minutes before us, got theirs in first and offer was apparently accepted. Have found another so we'll see. Glad to see cycling is as it is advertised to be, a popular activity and the hiking is fantastic. Somehow Tucson has a small town feel but not sure why.
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