Reply to Do you look up the value of people's houses on Zillow?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I look it up to see what they paid (incl. mortgage info which as folks have said is sometimes wrong but also often right) to get a relative sense of their housing cost.

Most of the time, it just validates I am not being crazy and they clearly have family money. It's not always that it's fully paid off, its just a huge down payment combined still with a huge monthly payment that implies they either have financial security from somewhere else (like an inheritance) or that they are living paycheck to paycheck to sustain their lifestyle.[/quote]

I just looked up my 2 houses and the mortgage info is wrong on both. Our primary home has been paid off for some time, yet it shows we still have a small mortgage. Our second home has a pretty inflated value, by maybe $750k over market, and shows that we have a $650k mortgage when the actual remaining mortgage is $150k.

But yes, I do look up zillow estimates for other people. Never look at the mortgage info since I assume that isn't accurate.[/quote]

It only records when you take out the mortgage and then it amortizes it over 30 years or whatever the term is. if you bought with 20% down and then paid monthly on schedule it would be right. If you paid extra or paid if off early, it would not be right. [/quote]

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