Hancock: Zillow: Hancock's house worth what he paid in 2003

From Jay Hancock's Blog:

I can't reproduce the Zillow graph, apparently because it's a flash chart. But it says my house is worth $491,000, which is about $5,000 more than we paid for it in late 2003. I know Zillow values aren't gospel, but they're a rough and interesting indicator of where house values have been and are going. We paid $485,000 for the Howard County house in November 2003. According to Zillow it was worth $670,000 by 2006, and as recently as last summer it was worth $540,000, according to the Web site.

Jamie Smith Hopkins quotes Metrostudy as saying that the tax credit hangover is over for home sales -- that the slump in activity that occurred after the tax credit expired has ended. Perhaps, but it doesn't seem to be having much effect on values in my neighborhood, at least according to Zillow. Nor is all the hiring at nearby Fort Meade. The expiration of the homebuyer tax credit pretty much marked a new leg down in the house's Zillow value. Not complaining. Just saying what's going on in my neighborhood may cast light on the big picture.

Jay Hancock