Historic Hill, Estate of the Day
Like yesterday's estate, today's home, clear on the other coast of the U.S. comes with a long history. This home in the Historic Hill area of Newport, Rhode Island was built around 1860 and was the home of William Swinburne, a mayor of the city. The home has been recently renovated. The home includes a dining room, formal living room, a newer kitchen done up in stainless appliances and granite counters. The first floor also includes a den and a breakfast room that opens to a porch which overlooks the pool. The bedrooms are on the second and third floors and include a master suite with a fireplaces, sitting room and marble bathroom. The home also comes with a new carriage house that offers two garage spots and guest quarters. Zillow lists this one as having been bought in 2005 for $2,900,000 and their zestimate has it at over $3 million. This one certainly seems like a decent deal at $2,995,000.
Reader Comments (Page 1 of 1)
Mike B Nov 13th 2007 3:23PM
Why do you quote Zillow as if that site has any credibility?
Andrew Lam Nov 13th 2007 6:43PM
Any evidence to back up your comment?
Benjamin Bach Nov 14th 2007 6:22AM
That Zillow has no credibility?
Well, here is one - it tries to 'value' a home without looking at it. A bit of an imperfect science.
A property is worth what a buyer and seller agree to sell/buy it for in a reasonable amount of time. A Zillow zestimate gives your a nice flavour of the assessed values of the area, but very little insight into the property itself
Ben
www.Benjaminbach.com
Spectacular Bid Nov 14th 2007 10:45AM
Agreed that Zillow has no real relevance when it comes to unique, historic, and/or highly customized homes. If you're trying to measure the value of one vanilla townhome built in 2005 vs. another two houses down, sure it works as a perfectly good form of measuring stick.
Sq footage, recent tax assesments, sale prices of nearby homes and other data only goes so far in terms of determining market value. The quality of materials (slate, chestnut, stone, etc), appealing architecture, landscaping, views, et al are factors which Zillow couldn't possibly take into account.
Seriously if say 'Biltmore' in Ashville, NC was to go on the market do you think Zillow would be anywhere near accurate in determining 'market value'?
Adam Nov 19th 2007 10:08PM
Zillow carries no credibility at all. You should check your figures and doing research first. I would bet dollars to donuts that this house has been greatly exaggerated. It's probably more like $1.5MM or less.
-Adam
President/CEO
http://www.wealthstore.com