How does a zestimate drop over $250,000 in one day?

Profile picture for Alice Rim
Hello,

My home is 4037 Oxford Court, Orange Village, OH.  I noticed that since 7/15 to 7/16 it now says it is $619,100 down $288,600 from one day ago....


WHAT HAPPENED?
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July 16 2011 - Orange
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Answers (8)

Profile picture for wetdawgs
I've heard that Zillow prefers to do customer service by E-mail and the advice section.  They are not set up for phone support except for marketing purposes (such as supporting Premier agents)

E-mail customer service link.

There are general numbers posted on this website if you dig deeply.




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July 17 2011
Profile picture for Alice Rim
Does anyone have a contact phone number for Zillow?
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July 17 2011
Profile picture for northwest
Do you have a tel. # for Zillow?
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July 16 2011
Profile picture for ajfrisone
call zillow
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July 16 2011
Profile picture for Mom2NAC
I agree with the others.  My house dropped from $208k to $181k to $177k within the past month.  I don't get it?  It wouldn't bother me, except that we may be trying to sell soon, and, although I realize that a "zestimate" isn't a CMA, it sure won't help our cause if prospective buyers know about Zillow...
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July 16 2011
Profile picture for northwest
@White Picture

"While it is good for many, it is unfair to a few others that your property is one of them. Zillow continues to upgrade their method to meet the user's expectation.


It is unfair for far more than a FEW others?!!  How is it that you say that with a straight face? I assume you are monitoring the huge volume of posts that have taken issue with changes brought on by the new agorithm and policies. Most people are appalled at the changes, and have voiced their negative opinion regarding the new formula and its significant hit to the credibility of Zillow's Zestimates, whether down or up. And then the drastic fluxes in valuation as shown in the rewritten history of property values. 

There have been sooooo many of us who have taken the time to try to advise Zillow of the need to reevaluate this new algorithm. Feel somewhat offended that we are referred to as a FEW.

Of course I see you are answering from HomeSand.net, which uses Zillow's information for customers to customize a zestimate by providing value-added formulas from HomeSand to fine-tune property estimates. Guess your apprach to minimize impact and compaints about the "enhanced" Zillow product is a soft-sell approach to highlight HomeSand's value. Next HomeSand proports to take the base info from zillow and improve upon it by using HomeSand software tools to get a better estimate.

The services your site is offering are indeed valuable, However in reassuring people of Zillow's basic accuracy and adaptability, you are leading them astray by reinforcing a dubious trust in the foundation of Zillow's Zestimates. Most of us writing Zillow have found deep-seated discrepancies as a result of the 6/13 release on forward. Many thousands of posts have been written re the wacko results applying the new agorithm.
 
Please give users credit where credit is due. We are not dumb. The majority of complaints have come from an extremely knowlegable, savvy, erudite, and engaged customers. To suggest to this poster anything different is not a true representation. Am sure you have not had the opportunity to view the thousands of comments on many Zillow threads; they cannot be quickly discounted and dismissed.

IMHO it would be wise for an independent and transparent user/customer group to be put together by Zillow. This group would create channels to funnel complaints to product management for immediate resolution.

It costs less to be proactively customer-oriented than to suffer the toll of extreme damage control. Zillow still needs to mange the issues and reduce impact on clients so it can maintain its image and further tap the marketplace and attract investors of all types.
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July 16 2011
Zillow released a new version of algorithm on 6/13 which may affect your property's estimate.
http://www.zillow.com/blog/research/2011/06/14/upgrading-the-zestimate/

While it is good for many, it is unfair to a few others that your property is one of them. Zillow continues to upgrade their method to meet the user's expectation.
However, your house is still stood at $900K range.
http://homesand.net/QuickComps.aspx?4037+Oxford+Court+Orange+Village&citystatezip=OH?Map=1?AllComps=True
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July 16 2011
Profile picture for northwest
Hello Zillow. Are you listening? You have now after 14 days declared zestimate updates once again after implementation of your new algorithm. There have been so many complaints about their erratic nature ...wild swings in value and value history.

Suffice it to say, there continues to be many (and more everyday) that are dumbfounded by the results since implementation of what was touted as spectacular enhancements. And there are so many that found the old way far more accurate than this new software release.


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July 16 2011
 

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