Profile picture for Halfback9818

How do you get the zestimate price?

The house two houses away from us has a Zestimate of $197,000.  It is approx. 1700 sq. ft.  My house is approx.  2250 sq. ft. has a Zestimate of $181,000.  You figures don't add up.  Where do your numbers come from?
  • July 03 2011 - Concord
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Answers (5)

Profile picture for Sharon Lewis
It constantly changes too, however I find it helpful for my clients as a 'loose generality' 
If someone really wants to know what is going on, you would talk to a local realtor. I am in the Greater Raleigh area. I would not, ever pretend I know your market, however I do have realtors I do business with who are in your area if you want a more factual figure on the value of your home. 
  • July 05 2011
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Profile picture for Jared Lowe
I would pay little attention to the Zestimate. An Real Estate Professional would be able to give you a better idea as to the value of your home in your local market. The numbers come from radius around the subject home with no regard to the value from one neighborhood to another. This is where the Agents knowledge and experience will come into play to explain your homes value.
  • July 04 2011
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Zillow uses an algorithm which takes in account several factors like square footage, number of bedrooms and bathrooms, etc. Most importantly the value depends on recently sold properties in the area.

Zestimate is not designed to replace a CMA from a Realtor or an Appraisal, but is just a ball-park figure what your property may be worth.

If you're interested in selling your property, contact a local Realtor. If you're not sure who to contact and would like some guidance, let me know, and I'll be happy to assist. 
  • July 04 2011
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Profile picture for CallTheSisters
We as agents are here to answer questions for buyers and sellers using the Zillow platform.  Directly we have no input or control over the Zestimates.  I wish we did.

Frankly, no one in the industry pays any attention to Zestimates.  Only a CMA from a local real estate professional or a certified appraisal has any validity in determining value.
  • July 04 2011
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You can learn some more about how Zillow comes up with their Zestimates here.  It's just meant to be a starting point, not a full Market Analysis.  I hope that this helps!
  • July 04 2011
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