Zillow: From $60 To $40 In Milliseconds

Tyler Durden's picture

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Clueless Economist's picture

Zillow says my house is worth $298,800...that is about right

Mr Lennon Hendrix's picture

Your house is most likely worth half that in real terms, unless you have ample room to farm with, but even then, your house is worth a lot less than you think.

gmrpeabody's picture

Her handle, though, is dead on.

Boxed Merlot's picture

I use zillow (and google earth) info in preparing paperwork for customer meetings.  Square footage, dates of sale, date of build, maps and neighborhood information is useful too.  Price discovery is overly relied on at this site, imo.  Too many variables (make me move, recent activity, modifications) can and do happen in real time to give too much credence to this data point. 

Ancona's picture

Welcome to the matrix. All trades must be executed by our computers. There will be no exceptions and no cancellations.

Move along now prole.

max2205's picture

Funny CNBS's chart doesn't show that spike trade....

optimator's picture

And....just in case you were short Zillow and sold, we have to cancel your trade.  Can't let you make anything on our systems!

snowball777's picture

There's always room for Zillow.

augie's picture

zillow: How a retarded five year old says zero.

Could be a great new slogan to relaunch with...

OldPhart's picture

The sorceror's apprentice must have been experimenting when his back was turned.

Steaming_Wookie_Doo's picture

Seriously, who would buy this (since you can glean a lot for free)? Is Zillow seriously going to gain market share around the globe to improve their share value? What is their actual income vs expenses? Oops, my bad for asking a "practical" question like that. I'm sure CalPERS loaded up on this baby already...

TruthInSunshine's picture

And in other news from the most distorted/corrupt markets in human history:

 

07-20 10:44: Fitch affirms News Corp's (NWSA) ratings; outlook stable
francis_sawyer's picture

I'm sure Prechter has a "wave count" explanation for that in his book... 

GeneMarchbanks's picture

He sure does, friend. It is called "Wave 6" otherwise known as wave good-bye.

Zero Govt's picture

we should have waved Goodbye to Prechter last year, he got every call on every Index wrong... ho hum!!

Maybe time to lose Steve Hochberg at EW though, he was wrong every week of 2010, never met a bigger loser than this throughout history... last prediction he gave before i junked the retarded fraudsters at Elliott Wave was Silver was heading to $20 in 2 months (ie. now)

Silver's at $40 Mr Hochberg not $20 (reality strikes/bites again!) ..ever met reality Hochberg, your predictions have never seen it coming or ever met

...nobody knows less about market direction and market timing than the delusional cretins at Elliott Wave ...King Prechter clinging to his throne, sorrounded by his doting minions, drowning in The Waves running in the opposite direction to his every protestation 

Rob Prechter at his complete useless tosser, deluded EW wave count, technical indicator fuk-up best:

http://www.youtube.com/watch?v=Tz5PrY2gjz0

Mr Lennon Hendrix's picture

Who cares what a house's price is when you can live in it for free?

Version 7's picture

Interesting would be to know how many americans are not paying their mortgages and up to what point the fact is sustaining so far the deep down turn.

Seasmoke's picture

everyone has a "friend" who is not paying their mortgage, but of course when it comes to the individual the conversation quickly changes subject.......

Village Smithy's picture

Check out Tyler's report on the research that JPM's Michael Feroli released a couple of months ago. Seems to me it was about 50 billion per year worth of Apple Store and Abercrombie visits. 

Bob's picture

Even more suspect is all the "deadbeats" who claim, once they go into default, that it was elective.  Sure it was, you couldn't have just blown up like everybody else, right?  Just the kinda thing you wanna admit to your friends.

A lot of people are just fronting as playahs when, in reality, they just have nowhere else to go. 

DCFusor's picture

Nice sentiment, would that it were accurate.  My county real estate tax collector is using some very different version of the meaning than you.  So are the guys who fix leaking roofs, or bring heating fuel.

And at that, I run off solar power, so at least one bill is "free" - if you don't count time value of money.

Mr Lennon Hendrix's picture

Let's try that again.  What are you meaning to say?  You don't like the way America does business?  In America, we use credit cards.  And no, we don't pay those, either.

treemagnet's picture

I bet it was that e-trade baby fucking around with his margin account again....don't put it past him, he's a trader in training for the SEC intern program this fall.

francis_sawyer's picture

SEC??? No way... The E-Trade baby is far too young for porn...

Piranhanoia's picture

not any more. He is 32 now and works for Lul

RobotTrader's picture

Gambling fever in LNKD, P, Z, etc. is now at a fever pitch.

E-Trade revenues were up big, looks like Joe Six is stepping back into the NYSE casino.

francis_sawyer's picture

Joe Six getting stock tips from Robo & going on margin...

What could possibly go wrong?

 

youngman's picture

It must be because of the ""federal budget debacle"

jse111's picture

Perhaps the sentient viewed Arnie Gundersen's 07/19/11 update and fled to cover:

http://www.fairewinds.com/

Enjoy your day!

randocalrissian's picture

Z's drop was about equal to the drop in home value between the moment you sign to close on the house and milliseconds later.

monopoly's picture

Robot, did you sell your miners yesterday. Smart move huh.

monopoly's picture

We get gold back over 1,600 fasten your seat belts all. Weak holders and zippo traders gone, now back to basic or as I advised yesterday...."we now return to our regular programming."

Ponzi Unit's picture

Did you see the sharp selloff in silver after the Comex close? Goon squad roughs up the chumps?

Cpl Hicks's picture

Vacuum tubes are cool. They get real hot, they glow and pulse with an supernatural light and they smell funny after they have been working for an hour or so.

Kind of like Ben Bernanke in front of Congress.

Texas Ginslinger's picture

volatility = quick & easy $$

Love it...

Incubus's picture

Can you imagine holding down a 30 year mortgage in today's economy?  Or being married to the same broad for the rest of your life?

 

Man, how times change. 

JimBowie1958's picture

Can you imagine holding down a 30 year mortgage in today's economy?  Or being married to the same broad for the rest of your life?

Yes on both and yes I do have them myself, and lovin them both, thank you.

 

OldPhart's picture

13 years into my fixed rate, 30 year mortgage.  33 years into the same broad.

Both could use some upgrades.

SheepDog-One's picture

Poor vacuum tube trader, alas we hardly knew ye.

Missiondweller's picture

Cramer explained this well in one of his books describing how Knight Trading handles IPO's when Street.com went public. They take all orders and put the market orders first, causing an opening spike as all the market orders execute at ever higher prices. Then the limit orders go in. Apparently its legal, but results in spike like this. Thus the old phrase about a fool and their money.

walcott's picture

a homey just squatted in a 350k house in Dallas. Got it for $16.

BanjoDoug's picture

This is a perfect example of a computerized operation that takes "other" public information, including property tax info, and gives you a valuation.   This was a useful (maybe) tool when iPhone users who were searching for R/E drove thru neighborhoods in pursuit of the perfect property.....   But in reality what this this service really worth, because it could be duplicated (via web access) by 2 college dropouts in some garage in Argentina.