How does Zillow figure???

Profile picture for Jambo33
I am curious how Zillow figures My home is worth less than the home beside me when the one beside me is a 4 bedroom ranch with 2292sf, no upgrades, no custom landscaping, old fence and roof that was replaced but with similar builders grade shingles?  When I am a 2 story with 4 bedrooms, a game room, a larger yard, landscaped, 2433sf, updraded roof to a 30 year heavier shingle, gutters etc....  Not only that our yard is very well maintained while until recently theirs has not...now they use the service we use.  This has been driving me crazy as to why this would be?  Could someone answer why and or how?
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December 03 2011 - Lewisville

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Profile picture for Zilluminati
Complain, formally, to your State Real Estate Appraiser's Board, or similar entity.
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December 03 2011
Profile picture for wetdawgs
Single story homes usually have a higher $$/square foot than two story homes.  This is true both in construction costs, as well as long term valuation. 

Here's a link to Zillow's FAQ "what is a Zestimate?".   Perhaps an important point to note is that Zillow is not taking into account roof, landscaping, gutters and various upgrades that may make a difference in value with a CMA and/or appraisal.   Hence, their statement of Zestimates being a starting point for comparison and not a substitute for appraisals and CMAs.
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December 03 2011
Profile picture for Tug of War
The other day in this Forum the CEO of Zillow Spencer Rascoff said to someone with a Question about Zesimates..

"If I referred your email to Russ, it was (and is) because it's his job to discuss these issues with our users" (LINK)

Sounds like Russ is the guy according to the CEO

Here is a Link to Russ Hatfield (His Profile) where you can just hit the "Contact" and explain your concern..
Russ Hatfield Zillow Customer and Community Support

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December 03 2011
 
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DiscussionHow does Zillow figure???
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  • December 03 2011
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