Dear Zillow,

Profile picture for fsi.segall
I have a beautiful home I purchased for a steal in 04, put 300K into it and you still have it way underpriced on your zillow form. Refinancing is getting to be an issue because you have priced it so low. How can  get this corrected- you are hurting my ability to get a loan for the amount I would like, when in reality the home is worth 700K-locatin location location, view view view, over 3100 sq ft now with 5 bedrooms 3.5 baths, wrap around decks custom interior lighting, granite counter tops, a new kitchen Omega top of the line cabinets,new stainless steelappliances and on and on. Can you please update my  home to somewher near it's tru market value asap?
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April 07 - Coral Gables

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Profile picture for Georgia Loans
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Since January 2009

I do not work for Zillow but will tell you Zillow's estimate of your home's value has nothing to do with your ability to get a loan. If you apply for a mortgage, a full appraisal will be performed and used as the basis for a mortgage, not anything else including an estimate from this site.
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April 08
Profile picture for fsi.segall
clay,
Youn are mistaken. The appraiser pulled zillow and we did have difficulty- still tryong to get the loan!!! What younare forgetting is that appraisers are sometimes swayed bywhat isput inthe zillow price line.
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May 08
Profile picture for Colorado Mtg Broker
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Since November 2009

An appraiser used Zillow to workup an appraisal?  Are you kidding me?  I'd use another appraiser.
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May 08
Profile picture for 203K Specialist
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Since January 2009

That is the quality of Appraisers we are going to have to deal with as a result of HVCC!

Any appraiser worth 1/2 his/her weight knows Zillow is useless in determining a homes value!
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May 08
Profile picture for Colorado Mtg Broker
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Since November 2009

AA, I think this was before HVCC, origianl post was 4/7.  Either way, unbelievable!
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May 08
Profile picture for WeFixRates.Com
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I think the borrower is in denial, as many are, about the true value of their property and looking for a scapegoat.

$.02
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May 08
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Hamp Yonce

Rock Hill, SC

Real Estate Agent
Contributions: 1612
If any of this is fact, and not pure fiction. Don't pay this appraiser. Report him to his licensing board, immediately. Then sue him. He's an idiot.
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May 08
Profile picture for 203K Specialist
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Since January 2009

Tammie,

I was bashing HVCC and some of the crap appraisers that are out there and we no longer can avoid them but need to deal with them!
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May 08
Profile picture for Colorado Mtg Broker
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Since November 2009

AA-you love to push my alphabet!  LOL..
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May 08
Profile picture for Georgia Loans
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fsi.segall, your original post says you put 300K into the home, now with 5 BR and 3.5Baths, over 3100 sq feet.
 I have some questions for you:
How many BR and Baths did you add?
Are they below grade or above grade?
What is the additional heat and cooled square footage over the original #? 

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May 08
Any appraiser who is using Zillow as part of their assessment is incompetent, you need to get a different appraiser.

At a minimum, if the appraisal has already been done, ask to see a copy of the appraisal report. You likely paid for it, so it is yours. When you get it, see what the appraiser used for comparisons - this will tell you more about why the appraisal is lower than you believe it should be.
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May 08
Profile picture for DavidG
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Since August 2009

Dear fsi
Your loan cannot be denied on the basis of your Zestimate value. If you truly believe that this is what's happened, please contact me with the details of the professionals involved and I will contact their supervisors and kick their butts.

Thanks!
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May 08
Profile picture for TarheelChip
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Since April 2009

Zillow is not a licensed Florida appraiser. Next time you apply for a mortgage, deal with licensed professionals.
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May 08
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May 08
Profile picture for Georgia Loans
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Since January 2009

Looking at homes in Coral Gables on Zillow, I am seeing multiple properties, non-waterfront, at $250-$270 per sq foot, which would give you aprx $775K value. Are you in a subdivision that has multiple sales at a much less $$ per sq ft than that? Something does not add up. What is your address?
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May 09
 

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