Naturally we'll fluctuate somewhat, but I wouldn't be surprised if it hovers around there.

.-- Property values have fluctuated +/- $10K over the last 10 years.

This way we can handle any rental price fluctuation better.

It meets the 3x the rent but the income fluctuates.

There are deals to be found - I've had some success with courthouse step foreclosures, but generally they make sense for flipping, not buy and hold (after rehab costs), since rents just aren't high enough to satisfy any of the "rules of thumb", be it 1, 2 50%, etc.One of the challenges in NorCal is that too much of the money is derived from few industries, so there is a lot of sensitivity to fluctuations in those areas with resultant impacts to the RE markets.

I leverage for cash flow so not much impacted by fluctuations in the short run.

Instead of fluctuating rents, there is now a predictable mortgage payment if a 30 year fixed rate loan is chosen.5.  

I doubt if it was worth 630K to begin with, but with these kinds of price fluctuations, is Zillow to be considered a serious source for investors?

Obviously if the home isn't an entire gut, that cost can fluctuate.

The transport costs (usually from Eastern Nebraska) could fluctuate and push the pricing even more.