So it must be true if Zillow says it! http://finance.yahoo.com/news/home-prices-reach-bottom-zillow-040115333.html
Although Zillow does collect tons of housing data, it is not close to being the Google of home pricing. I can put in my own address and get a huge variety of home prices just for my block alone, based on their automated system of recent sales in the neighborhood. This is great for a bird’s eye view on properties, but if you want accuracy, you’ll have to contact a Realtor. Preferably a Realtor who is familiar with the neighborhood you are interested in, who can run a comps report on the specific area from the past 90 days. That is the only way to get any true accuracy in a current local market report because the MLS database holds years worth of local market data. Zillow lets homeowners skew data by putting in “Make me Move” pricing which has nothing to do with the market.
Start your research with Zillow but ask your Realtor before putting together an offer!