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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.
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.
How are zestimates arrived at?
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