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Answers (5)
- SoCal_Engr
- Contributions:5663
I am not a Zillow representative, but understanding the Zestimate is key to handling people who want to use a low Zestimate as a bludgeon in the negotiation process. If people are looking at your Zestimate, be sure they know...
A Zestimate is an automated estimation, and doesn't take into account upgrades/condition/etc. that cannot be reported via public sources.
The Zestimate has an error margin that is acknowledge by Zillow. This results in a +/- range of values.
In your case, the current Zestimate is $280K. However, the possible range of values reported by Zillow is $227K-to-$373K. And this is before taking into account any upgrades.
Most importantly, know what your house is worth...and why. Be prepared with facts - like the lake access, etc. that set your house appart from the others.
Best of luck in your efforts.
A Zestimate is an automated estimation, and doesn't take into account upgrades/condition/etc. that cannot be reported via public sources.
The Zestimate has an error margin that is acknowledge by Zillow. This results in a +/- range of values.
In your case, the current Zestimate is $280K. However, the possible range of values reported by Zillow is $227K-to-$373K. And this is before taking into account any upgrades.
Most importantly, know what your house is worth...and why. Be prepared with facts - like the lake access, etc. that set your house appart from the others.
Best of luck in your efforts.
- Rita A. Walker, "Rita Walker"
- Contributions:277
Just have your Buyers read some of the post in these advice columns. Everyday there seem to be more post about incorrect zestimates than any other questions or comments.
If you are dealing with Real Estate Professionals there will be no credence put into these figures.
Hire someone that is qualified to sell your home!
If you are dealing with Real Estate Professionals there will be no credence put into these figures.
Hire someone that is qualified to sell your home!
- Verni Jones, "vernijones1"
- Contributions:129
Hi My name is Verni Jones and I am a Realtor in Dandridge, TN. I am currently working under ERA Lakeway Real Estate.. and for the record I can be reached at [phone number deleted by Zillow moderator]
I definiately under stand your concern. I pulled the tax records for your home and the home on Viewtopia...you have more finished space and a higher tax appraisal. So, I know the calculation by Zillow is wrong. Zillow does not put the human factor into the equasion. That is why you need a Realtor to help you place your home in the market at the correct market price for todays market. I do not know how Zillow calculates..but I am sure that they do not take into account all of the square footage, etc.
[self promotion deleted by Zillow moderator]
I definiately under stand your concern. I pulled the tax records for your home and the home on Viewtopia...you have more finished space and a higher tax appraisal. So, I know the calculation by Zillow is wrong. Zillow does not put the human factor into the equasion. That is why you need a Realtor to help you place your home in the market at the correct market price for todays market. I do not know how Zillow calculates..but I am sure that they do not take into account all of the square footage, etc.
[self promotion deleted by Zillow moderator]
- wetdawgs
- Contributions:26804
It appears you made significant edits to the facts of the home in early September, adding >1000 square feet as well as defining number of rooms. These edits are likely to affect the Zestimate, but it takes time. Most often I (not a Zillow employee) see a response in six to eight weeks, Zillow says "a few weeks to a few months" for the Zestimate to adjust.
So, let potential buyers know that the Zestimate was calculated off incorrect facts. You can put a comment in the comment section by the Zestimate with factual information.
So, let potential buyers know that the Zestimate was calculated off incorrect facts. You can put a comment in the comment section by the Zestimate with factual information.
Can you please read my comments and be fair about this?
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