Profile picture for fgoflash

Clearly, your claim "zestimates" are based on public records is not true. Evidence my house.

The "zestimate" for this house wrong.  The city of Fargo appraisal of this house for property tax purposes if listed at $215,400.  Actually, the highest value of all other houses on this block, and for this reason, the appraiser performed a re-evaluation 2010.  This house was built in 1979 and the property has never changed hands.   The original owners continue to possess and occupy the dwelling.   Where did you get the information listed for this property?
  • February 19 2011 - Fargo
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Answers (2)

Profile picture for wetdawgs
Property tax assessments and the price one can obtain for selling tend to be apples and mango.   The Zestimate is from a statistical formula using the basic facts of your home (size, rooms, bathrooms, bedrooms, location etc) that are in public records.   Unless one of those facts is wrong in the Zillow files, Zestimates themselves cannot be "wrong" because they are a number generated by the model.   They may not represent tax values, not the values you can sell for.

If you spend some time investigating Zestimates in the FAQs, you'll discover statistics for many major metro areas on Zestimate vs actual sales price.   In many states the actual sales price is within 20% of the Zestimate 70%.  In other states the actual sales price is within 20% of the Zestimate even greater percentage. in my experience, CMAs don't tend to do much (if at all) better.
  • February 19 2011
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Profile picture for SoCal Engr
One of the places where Zillow gets public information is from online assessor sites, like Fargo's online property info site. Just type in your address and you'll see what Fargo is publishing about your property.

It also appears that Fargo is publishing information identifying owners. Zillow, as a matter of policy, does not publish this information - even when it is available online.

Zillow uses this information, along with a proprietary algorithm, to generate Zestimates.
  • February 19 2011
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