Profile picture for junelaine

How does my estimate affect home's value?

  • March 01 2010 - Pittsburgh
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (7)

Whether a value is "off" or "affected" must be related to the context in which it's made.  If you want to know the value that you should list your home for contact a real estate professional to get the latest information and advice.  An appraisal or real estate assessment that was prepared some time ago using comparable sales from the past are not a good indication of what you should list and sell your home for.  That would be like selling stocks today for the amount it was selling for 12 months ago.

The effective date of valuation matters as it dictates the comparable sales used in estimating the value.  For determining a listing price you definitely want to know what is happening now and what competing properties are listed for and a real estate professional can do that.   

  • August 16 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

same answer... the zestimate is usually off... just like allegheny county's assesment.  if you want a good estimate of what your home is worth, give me a call b/c i'm really good at it :)
  • August 12 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Good question. It has no effect. Either does any of the other home value site out there, like Cyberhomes, Trulia, etc.. And neither does an appraisal nor tax assessement for that matter.

Your home's value is affected by the attributes of your home, ie the size, condition, lot size, location, etc. And you won't know EXACTLY how much your home is worth until you sell it ...but until then a Zillow Zestimate sometimes does give a good estimate, sometimes not...
  • August 10 2010
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for sunnyview
It doesn't. You can show extra value on your home page, but it will not increase your Zesitmate.
  • August 10 2010
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Honestly, I wouldn't put too much, or even any weight in a zestimate. They are a great tool but they should never be used as a comparable home analysis. If you are looking for an estimate, contact a realtor.

[link removed by moderator]
  • August 10 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for CallTheSisters

Based on data Zillow compiles, the Zestimate is generated.  A Real Estate professional who practices in your market is in a much better position to give you an up to date snap shot of value and market conditions.

The ultimate valuation is determined at the time an appraisal is done. The Zestimate is not used in the appraisal process.

  • March 01 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for wetdawgs
The Zestimate is merely a tool to use for a basic comparison of properties.  It is not an appraised value, and should not affect the home value.
  • March 01 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.