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How are zestimates arrived at?

The houses at 112 S Sunset Pl, Monrovia, CA and 130 Fowler Dr., Monrovia, CA, which sold recently for $538 and $540K respectively, are the same house as 116 S Sunset Pl, Monrovia, CA.  All these houses were built at the same time by the same builder, have the same basic floorplan, and have been upgraded.  Why is the zestimate of 116 S Sunset so much lower, $469K?
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January 01 2012 - Monrovia
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Answers (1)

They are 'arrived at' very badly as you probably guessed for yourself. It is annoying to read all the statistical theory nonsense that zillow obsessives post on this forum as your case proves without doubt how inaccurate zestimates are.

Just because your home hasn't sold in recent yearss is no reason why your home should be valued $70k lower than an identical home as 112 is to your home. Zillow is an embarrassment and needs to be regulated as it cannot be trusted to act in a fair and responsible way when valuing homes.

The final insult is their refusal to give any right of appeal to the homeowner when they question the inaccuracy of the valuation. All they do is give platitudes saying that 'the zestimate is just a starting point with zillions of bits of data'. Bottom line is it they make so many errors and need to correct these errors when requested by the homeowner to do so. People should not have to subject themselves to post on a public forum like this to get erroneous information deleted from their private property the way zillow requires.
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January 01 2012
 
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