- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (4)
- lkas
- Contributions:19
Thank you for the information!
- Pasadenan
- Contributions:21458
It is all done by machine. The only place for errors is what is put in the public records. Check both; and if you find any discrepancies, use the "report a problem" button under the edit pull down tab under the main photo on the home details page.
You can also edit the information for your own home, but it takes about 6 to 8 weeks for the owner provided data to affect the estimates.
And remember, it is not just how much you paid, but also when you bought. The machine uses extrapolation factors from the date of purchase and the purchase price. Tax assessed value also makes a major difference.
Another strange thing; if data is missing, they are forced to use different statistical models, so that can create substantially different answers even though the method and "recently solds" is the same.
Usually, if you look closely enough and compare each public record item on the two houses being compared, you can find the difference.
As for the rent-Zestimate; they are calculated with entirely separate models, using the "for rents" in the area, and have little to do with potential market sales value.
You can also edit the information for your own home, but it takes about 6 to 8 weeks for the owner provided data to affect the estimates.
And remember, it is not just how much you paid, but also when you bought. The machine uses extrapolation factors from the date of purchase and the purchase price. Tax assessed value also makes a major difference.
Another strange thing; if data is missing, they are forced to use different statistical models, so that can create substantially different answers even though the method and "recently solds" is the same.
Usually, if you look closely enough and compare each public record item on the two houses being compared, you can find the difference.
As for the rent-Zestimate; they are calculated with entirely separate models, using the "for rents" in the area, and have little to do with potential market sales value.
- lkas
- Contributions:19
The home that is zestimated as more is older than mine. I purchased mine for $20,000 more. Also they have very close square footage, same bedrooms and I have 2 baths and they only have one. The rent is a higher value on my home than the rent estimate on that home. It doesn't make any sense. I think it is an error on Zillows part.
- Pasadenan
- Contributions:21458
Because it didn't sell for the same amount, nor on the same day, nor is the tax assessed value the same.
That is both "normal" for units purchased a long time ago, and for units purchased at a large discount.
It also could be the number of bedrooms, or number of bathrooms, or number of stories, or number of square feet, or the lot size, or the year built...
That is both "normal" for units purchased a long time ago, and for units purchased at a large discount.
It also could be the number of bedrooms, or number of bathrooms, or number of stories, or number of square feet, or the lot size, or the year built...
How is my house zestimate less than the house next door?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.