Home pricing

Profile picture for birdmanorama
Zillow keeps downgrading the value of my home. I recently (September) re-financed my home and the appraisal came in at $725,000 and Zillow calculates my home on December 27, at $638,000. how can they be so far off the mark. My appraisal ordered by the lender actually uses comparable sales. How can I get Zillow to get the price correct?
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December 31 2011 - Pleasanton
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Answers (3)

Profile picture for Wes Black
Try not to dwell on Zestimate. Your recent appraisal is the most important document you can have when you want to sell your home.
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January 02
Profile picture for tmcguire1
Why do you care??   Zillow is simply an computer based pricing model that uses mathmatetical algorithums to generate a value.  These values are not used in any appraisal process and doesn't affect the value of your home or refinance options.   

There are a variety of other variables that cannot be not included in many of these free online valuations such as location, caliber of upgrade or all cash sale.   Even the mathmatical algorithums used by these services can also vary which is why you can often see a wide swing in valuations between online resources.
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January 02
Profile picture for sunnyview
Zillow's Zestimate is not an appraisal and in my area the "value range" is often more accurate than the one Zestimate number. Unlike an appraiser Zillow deals mainly with trends and does not "hand pick" comps for your house. I would make sure that all your home facts are correct since incorrect facts can lead to a less accurate Zestimate. You can claim your house and update them immediately as an owner.

I would also consider adding a Zestimate comment to your home page with your appraisal amount and date so that people looking at your home page can see that information for themselves.
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December 31 2011
 

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