1996 saw the completion of the Grove Hill Tower in the Coconut Grove section of Miami. The advertisement, used to help sell all the units for opening day occupancy lists the price spread as $350,000 to $1,700,000.A quick look at Zillow.com (disclaimer: Zillow is a beta site, and the algorithms used to price property may not accurately reflect the property's actual value or potential selling price) tells me that the "zestimate" for a condo in this spiffy high rise can range from $472,277 to $3,080,500. Zillow also tells me that of the 76 units in the building, 32 of them have yet to change hands.
It isn't hard to understand how Zillow freaks people out.
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