Zillow.com: first, have a beverage at hand

Zillow does real estate estimates. Type in your address and check it out.

I did my check after reading this NYT Times post:

... 77 percent of homeowners from around the country believe the value of their home has increased or stayed the same...

... This in spite of a recent Merrill Lynch prediction that “housing prices will remain in free fall,” declining 15 percent in 2008 and 10 percent in 2009, “with more depreciation likely beyond the forecast period,” even if the Federal Reserve continues to cut interest rates.

Stan Humphries, Zillow.com’s vice president of data and analytics, said the results of the survey could be attributed to the fact that most Americans have yet to try selling their homes. “Most people are not really affected by declining values unless they absolutely must sell or need to immediately refinance or withdraw equity,” he said. “This has contributed to the healthy investment intent, particularly in home upgrades, despite the downward trending markets.”

I think I need a Scotch now ...