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Comparables - Zillows comps don't take into account location or amenities. Why?

Zillow does not seem to differentiate between a waterfront home in Malibu and one inon a typical city street in Detroit. It's got 3 BR and 2 Baths...it's a comp!

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May 17 2011 - Tonka Bay
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Yes, I agree the anaysis if flawed  (and I thank them for that as it keeps appraisers like me in business) but I have feeling eventually it will get better and better putting the human appraisers out of business :(
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May 17 2011
Excalibur2008a,

The only real, accurate comps you are going to get are using a Realtor or licensed appraisers.  They have access to the most accurate data and the professional knowledge and training.  Everything else is guesswork.  Remember, recently it was shown that 20% of online information is inaccurate.  Good luck!

Shawn
President/Broker
Mariner Realty Group, Inc.
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May 18 2011
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I'm obviously being a bit facetious but their comp methodology is flawed and needs too be addressed. It has nothing to do with improvements made becuase county government records are many times out of date. Amazing how the taxes go up everytime you make an improvement but the record describing the property doesn't get updated. When I tried to pick comps awhile back it simply added the value of the comp to my home value. They need some software work.
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May 17 2011
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Zillow's computers attempt to use comps that are within a specific radius of the home in question.   Do you have actual examples of a Malibu home using a Detroit home as a comp, are you being facetious?

I'm actually quite pleased that Zillow doesn't know all the upgrades of my home, if they did because they knocked on the door and walked through every couple of months, I'd be horrified. 

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May 17 2011
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Nice to be in a business where there is no accountability.
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May 17 2011
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Zillow doesnt have an up tp date on all amenities on many homes. why???
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May 17 2011
 
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April 10 2011 | 9 answers
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