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Coming from Zillow…

February 3, 2009

It’s no secret that Zillow values are “approximations”. I was looking at a home today that Zillow valued at over double it’s worth in today’s market.

That being said, what do you think about this headline:

DALLAS (Dallas Morning News) – Almost 16 percent of homeowners in the Dallas–Fort Worth area are “underwater,” according to a new report from Zillow Inc.

That’s about 1 percent less than the nationwide number of homeowners who owe more than their homes are worth, the Internet real estate company found.

In addition, DFW homeowners lost almost $4 billion in home value last year.

Overall home values in the area fell by less than 2 percent last year, compared with an almost 12 percent drop nationwide.

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