Profile picture for schoonhoven susan

How do you get your values

There are 10 homes on my block exactly like mine. They all have been built in and around the same year. Some have changed the home to a two bedroom, making the living room larger.  Some still have the asbestos siding and yet you have estimated my house as the least on the block?  Funny how that works, when I have vinyl siding, an enclosed garage, (Some still have the old carport), fenced yard, newer updates.
  • August 09 2014 - Davenport
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Answers (6)

Profile picture for Lucky Lang
@Pasadenan,

I didn't say that any information is missing from our Scott County records (even though it is).  About once a month I am sending information to our county people to update/correct their records.  Our Scott County website is awesome and provides a great service to our community.  As we continue to provide it feedback it continues to improve, however, a very small percentage of the properties on there have been personally visited by our local officials in the Davenport Assessor's Office.  Recently, I took one Davenport City Assessor into some properties so he could update his records as to their true value.  They were grossly over-assessed and Buyers were being scared off by the high property taxes because of it.  He promptly changed the assessments and now they are at current market value.   

What I said is that Zillow gathers it's information from public sources.  They have also (recently) begun to gather information from some of our MLS participants as they are increasingly being allowed to do.  Our MLS information is more complete and therefore more accurate in determining market value.  For instance, very frequently basement finish square footage is not listed on the Assessor's website.  This can skew the Market Value by a wide margin. 

My point is that no Internet site/service will be as accurate as a Local Real Estate Professional who knows the area, has been in the comparable homes as well as the subject property prior to determining an accurate Market Analysis.

Thanks!
  • August 10 2014
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Profile picture for Blue Nile
Sorry for the typo; too long to edit...
I meant "purchase price in August 2009"
  • August 10 2014
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Profile picture for Blue Nile
Sorry, I didn't realize that the address of the original post was referenced until "Lucky" pointed it out.  (Nor that it is presently listed for sale)

The "estimate" trend chart for the property in question:



You can read about the tolerance margin:
http://www.zillow.com/zestimate/#faq-1

http://www.zillow.com/zestimate/#acc


The estimate in August 2009 is pretty close to being on their estimate trend line.
Changes since purchased are not factored into the estimates.

I have no clue what data Lucky thinks is missing in the county records.  It looks like all the important data for estimating is there to me (other than site vists for "present condition" which is never in the county records and never provided by AVM's).
  • August 10 2014
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Profile picture for Lucky Lang
Susan,

Zillow gathers it's information from public sources.  It has not been gathering information from our community for very long and therefore is not as accurate as it is in other areas of the country.

Zestimates are not intended to replace a Competitive Market Analysis performed by a Local Real Estate Professional.  Zillow is in Washington State and has no office in Davenport, IA.  Your comments about your home are exactly right and I see this all the time.  I have lived in Davenport all my life and first got my Real Estate License in 1977.  If you would like an accurate CMA please call me.  My house is just about a mile from yours.

Thanks!
  • August 10 2014
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Profile picture for Blue Nile
Susan, call your local county tax collector and tell them you are not paying enough taxes for your vinyl siding, garage, and fencing, and that you want your property taxes doubled.  Then in a year or two, the additional taxes that you will be paying will raise the automated machine generated opinion of what your home MIGHT be worth.  But that still won't change the sold price history of your house, so the estimates still may end up below present market value.

Features, Fixtures, Finishes, Amenities, Views, etc are only captured in the estimates by sold price history and property tax history.  There is nothing else in the county records that can capture that info, nor nothing you can add to the details page to capture it either.


MM1155; there is a known glitch that has occurred recently in a some of the estimates that is presently being tracked down.  See:
http://www.zillow.com/advice-thread/My-home-value-has-swings-beyond-comprhension-can-you-explain-why/553297/
  • August 09 2014
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Profile picture for mm1155
Why did Zillow change the value of my home over $100,000 lower in a couple of days?
  • August 09 2014
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