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Answers (3)
- Eric Hempler, "erichempler"
- Contributions:83
You can't rely on a Zestimate because the data that's being used is from county records, which can also be incorrect. The data that's recorded at the county level, which is then fed into Zillow in some cases is actually the amount borrowed by the buyer and not necessarily the amount the home is bought for.
If you want a true valuation of your home ask an Appraiser or Realtor because Zillow is estimating based on an average, which can be skewed if a lot of lower priced homes have been sold in the area versus higher and vice versa.
- Jane Oelfke, "janeoelfke"
- Contributions:7
Zillow is trying to update the properties in the Midwest. They started on the west coast and are moving this way, trying to be more accurate with the properties. Jane
- Elisabeth (Lis) Weinpel, "Elisabeth Weinpel"
- Contributions:90
the Zestimates are based on sales that took place...you have to remember Zillow does rough justice by looking at bedrooms, baths and sometimes square footage. The do not know about neighborhood or condition or mistakes in square footage, or flood zones, etc. so you could have a number of fair sales one month and then the next month a bunch of foreclosures that sold low that would affect your zestimate. This is a place to start but you need a real live realtor familar with your area and the sales there to give you a competent price.
How has the valuation of my property changed so drastically in one month?
Gerry
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