Profile picture for mencher21

How in the world do you come up with your "zestimate"?

  • December 21 2011 - West Beverly
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Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (9)

@Hamp

I did try to ignore it for a month or so after discovering zestimates. Then I thought "what the heck gives these guys the right to screw my mind with their intellectual BS valuation with no basis of fact", and decided it was time someone stood up to this nonsense.

If I educate just 100 people how inaccurate that zestimates are I will consider my protest a success. The arrogance of the responses by zillow to my requests motivate me to continue highlighting their failings for the next 10 years if that is what it takes to get my point across. What I still don't understand is their ambivalence to even consider they are wrong. Maybe next year I will get an invite to the Zillow Holiday Party as a special guest for services rendered - well at least for adding a handful of 'unique users' for the ads revenue.
  • December 21 2011
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For detailed explanation please visit:

http://www.zillow.com/wikipages/What-is-a-Zestimate/ 
  • December 21 2011
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They don't come up with the Zestimate in "the world". If they did, it might make sense. They come up with the value in the "virtual world" of statistical analysis, which renders it virtually worthless. Ignore it. Ignore Zillow, altogether, if possible. Your life will be more pleasant.
  • December 21 2011
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"You cannot "change" the value/number of your zestimate!!!
Even if you call in 10 agents for CMA"s, and 10 appraisers, plus have the appraisals notarized............you CAN'T change the zestimate. You can't even have the zestimate removed if you disagree with it."

what an outrageous situation - we send troops to Iraq and Afghanistan to protect freedom but we let this nonsense happen in our own country. The sooner that websites like zillow are properly regulated to stop this unfairness the better for everyone.
  • December 21 2011
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Profile picture for Matt Laricy
Zillows zestimates are terrible. They never make sense and you cant change it. If you want to know the accurate value of your house, have your agent draw you up a CMA. (comparative market analysis) Otherwise, just ignore the zestimate if you can!
  • December 21 2011
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Nope ,  you just received wrong informationfrom Akis, but correct information from Wetdawgs!!

You cannot "change" the value/number of your zestimate!!!
Even if you call in 10 agents for CMA"s, and  10 appraisers, plus  have the appraisals notarized............you CAN'T change the zestimate. You can't even have the zestimate removed if you disagree with it.


What you CAN do is pull up your address and then "claim" the home as yours. Click on EDIT and add any additional information where you can, or correct any inaccurate information you find.
That's about all you can do.
The zestimate is what zillow says it is,although what you add might influence it at some point, as do market conditions.

Zillow has full control over your zestimate.
 You asked how they come up with the number?
Well.................apparently, there is a secret  mathematical algorithm they use - they stir  in public records....then.....grease and flour a bundt pan and bake it at 350 degrees for 45 min, and voila - you have a Zestimate!

Let it  cool and enjoy!
:)

Happy holiday!
  • December 21 2011
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Profile picture for wetdawgs
Realtors and appraisers cannot change the Zestimate.    in fact, no one (Zillow employees included)  can manually change an individual Zestimate.   I suspect the previous poster was trying to solicit business inappropriately.

An appraisal is a step above a Zestimate because it involves an in person visit to the home.  As a consequence, the appraiser can evaluate the condition of the home - something unavailable to Zillow.


  • December 21 2011
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Profile picture for JohnTheColonelFuhrmann
Are you saying that a realtor can change the value at Zillow? We recently had an appraisal prior to a remortgage. The Zillow figure is 20k under the appraisal.
  • December 21 2011
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Zillow's Zestimate is an innacurate figure. If you want to know your current market value, contact a professional Realtor like myself and get an accurate market estimate. Then, you can change the value in Zillow. [E-mail deleted by Zillow moderator.  Please refer to our Good Neighbor Policy for posting guidelines]
  • December 21 2011
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