How to submit appraisal information to correct a Zestimate that is far below current market?

We are selling a home and the bank's written appraisal is significantly higher than the Zestimate. We have not yet published our listing, but would like to do so today. As I understand, we can provide Zillow with the copy of the appraisal to help raise the Zestimate. How do we do that? To whom/where do we provide the information? Please note that the current Zestimate is  more than $500,000 under the appraised value, as the neighborhood has been undergoing significant transformation. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 19 - Wilton
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (6)

Profile picture for Dan Tabit
Dale,
Zestimates are a place to start, you may be 30% or more off, but it's still a starting place.  I say this because this is the standard line. In the best areas, where they are the closest to actual selling prices they are only within 5% high or low around 30% of the time. 
The good news is professionals know this and deal with this all the time.  Your home may be fairly priced way over the Zestimate and if your agent markets it well you'll have a buyer soon enough. 
If a buyer believes the Zestimate, there's nothing you can do but provide the appraisal you've got.
One last word regarding the appraisal.  An appraisal, while being a much more reliable way of determining value than a Zestimate, is not a guarantee either.  Appraisals are opinions of value and two different appraisers may come to two different opinions.  A great agent will review the comparable sales and active competition to advise you the best pricing strategy.  When an offer does come in, your appraisal will not be the one their lender relies on. They will order a new one and come to their own opinion. 
Best of luck.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 19
Welcome to the world of the infamous zestimate!!..........get in line......if it's any consolation - you're not alone in being discouraged and bewildered by it

I suggest you follow Wetdawg's advice, as it will make you feel better to add comments, but after doing that - do what most of us do.............just.....IGNORE it!

best wishes.............
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 19
Profile picture for wetdawgs
I can see how it would be disconcerting.

It would also be bewildering and confusing if Zillow was a random collection of new and old appraisals mixed in with some Zestimates.  
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 19
Thanks! Discouraging and bewildering...
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 19
Profile picture for Southern Boy
Zillow uses only the sale price of the home and even then lowers it sometimes.  Totally stupid.  Zillow estimates whould never be used to value any home.  I got a good deal on my home and zillow uses this as a price on the home plus and lowered the value even then.  Homes exactly the same sq with no pool, no landscaped rear yard, no solar and in rental shape (if you know what I mean) are listed by Zillow up to 25000 more than mine.  Go figure.  And these are the exact same homes (sq, design, etc).  Zillow should not be allowed to post any values on homes, they do not see the homes nor take into consideration, cash sales which some owners paid for good deals on the home.  This should never affect a homes value.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 19
Profile picture for wetdawgs
"As I understand, we can provide Zillow with the copy of the appraisal to help raise the Zestimate."   Unfortunately someone has misled you.  Zillow does not use appraisals in calculation of the Zestimate, only hard facts on the home.  However, you can claim your home and place the appraisal value in the section called "owner estimate".     You should also check to confirm that home data are accurate and complete (especially size, rooms, lot size, sales history and tax history).



  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 19
 
Related Questions
How to submit appraisal information to correct a Zestimate that is far below current market?
Profile picture for Dan Tabit
Latest answer by Dan Tabit
April 19 | 6 answers
I want to add my real estate agent as she is excellent and the agent fetured is not very good.
Profile picture for Brad Andersohn
Latest answer by Brad Andersohn
August 26 2011 | 12 answers
What is the typical multiple of assessed value to sale price these days in Wilton?
Profile picture for Monica Islas de Shaw
Latest answer by Monica Islas de Shaw
May 14 2010 | 1 answers
  • Asked by Benny1s
  • In Pricing
  • April 08 2010
I am an agent. Both of my listings are shown as being listed on Zillow,neither come up as mine!!
Profile picture for Margaret Shea
Latest answer by Margaret Shea
September 24 2009 | 1 answers
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 31 Thunder Lake Rd, Wilton, CT Home For Sale
    31 Thunder Lake Rd, Wilton, CT 06897

     For Sale: $1,279,000

    • Beds: 4
    • Sqft: 4600
    • Baths: 4.0
    • Lot: 87120
  2. 27 Hanford Ln, Wilton, CT Home For Sale
    27 Hanford Ln, Wilton, CT 06897

     For Sale: $695,000

    • Beds: 3
    • Sqft: 1183
    • Baths: 1.0
    • Lot: 78408
  3. 134 Deforest Rd, Wilton, CT Home For Sale
    134 Deforest Rd, Wilton, CT 06897

     For Sale: $734,500

    • Beds: 4
    • Sqft: 2548
    • Baths: 2.5
    • Lot: 97138