Profile picture for tedyz

How you get your estimates?

I am trying to find out how you get your estimates and how my house value dropped so suddenly. My neighbors house had water damage and he does not take care of it yet you have his house higher than every ones in the neighborhood.  Plus, it is a drug house. Your estimates effect people selling their houses and they are way off. Plus, the county estimates my house at 80,000 higher.

Plus, it is hard to talk to someone in your office to get feedback on estimates. I would like my house taken off of the website because your information is damaging to my house value. This is fraudulant
  • September 08 2011 - Owings Mills
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Answers (6)

Profile picture for blue screen exile
For more information about the "range" of the estimate and correlation to sold price and/or listing price... you might want to see the "case studies" in the thread:

Research on Zestimates, part 2...
  • September 11 2011
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Profile picture for New_Englander
Tedyz, I understand your frustration.  But, people who do not like you cannot edit the facts of your house and thus lower the zestimate.  If you have claimed it, you are the only one who can do so.  Ice L. did not mean to suggest that the zestimate is based on "opinions" of your acquaintances... she meant to suggest that it is merely ONE estimate among many possible estimates, and only based on publicly available information about the house and your market, rather than about specific interior conditions or activities occurring in the houses.

The "drug house" issue will come into play in the actual real estate market - probably lowering YOUR property value because of the proximity, but how would Zillow know this... for that matter, would a realtor even know this, or is it just your assertion that it is a drug house?  And, "drug house" usually refers to the activities occurring within the house, not the value of the house which will transfer upon sale.

It IS frustrating that Zillow even puts these numbers out there, knowing that they are utterly useless.  They acknowledge that they are inaccurate but say they are a good "starting point" - I don't see why a number which is so far off from a tax assessment or even recent sale price of a house is good for anything at all.  They do offer a "range" for the zestimate, but they have removed it from the prominent spot below the zestimate, and instead it is much further down.  I also don't think that anyone pays much attention to the range.  Considering the value range for my house is $150,000 or so (on a house which is probably worth around $200,000... so that is a HUGE range) the zestimate is clearly just a wild guess made by the computer.  Unfortunately a number of people do seem to put a lot of faith in these numbers, so Zillow is really doing quite a disservice in putting out inaccurate numbers when they do know that many people consider the numbers credible.
  • September 10 2011
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Profile picture for wetdawgs
IceL is a Zillow employee.

Editing data may change the Zestimate, but it takes time.   The time is measured in several weeks to several months.  As you edited the facts about a week ago, the $50 change is likely to be the normal variation seen in the 3x a week updates.

Zestimates are not appraisals, but a starting point for comparison of properties.  You can read more here on Zestimates as well as values and accuracy.  It appears from your comments that you are wishing the accuracy of an appraisal, if so, you will have to bring in a paid appraiser.

As IceL mentioned, Zillow does not remove properties from the website. Here is their FAQ "Can I remove my home from Zillow?"

There are many sites offering AVMs, and they all seem to have the same policy of not removing properties.

Please note a drug house next door is a very important fact that will reflect negatively in appraisals or CMAs

  • September 10 2011
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Profile picture for tedyz
So per user Ice L., the posting that you have on your website is based on 'opinion' not on facts or the condition of your home. This makes absolutely NO sense. That is what a house value is suppose to be based on, if you know what you are doing.

In addition, I did take ownership of my home and made changes. My home value only increased by about $50 bucks. So your suggestion did nothing for me.

This website should not be posting the value of peoples homes unless the website has accurate information about the home. This website, per Ice L. is based on opinions. So if I have a neighbor or someone who does not like me. They can provide false/ negative  information about my home which will affect the posting that you put on your website. This sounds corrupt and fraudulent.

I want my home taken down from this website immediately!!!!!!!!!
  • September 10 2011
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Profile picture for blue screen exile
In addition to the guide that Ice referenced, there are many other threads about the calculation methods and tolerance range, as well as some good research blogs on the Zillow blog section.

But just for a comparison, here are a few of the many other websites that offer free machine opinions of approximate value:

Homesand.net

Eppraisal

realquest.com express

cyberhomes.com

trulia

chase

homegain

(None of them offer site removal nor blocking either).

(By the way, just because an estimate drops suddenly doesn't mean the value dropped.  The value may have been only 1/2 of what was previously shown.  There is a wide tolerance range, and a range for the estimate is provided on each home details page... but even that is only a "probable" range, and the actual value can be higher or lower).

The local info pages will give you a much better picture of rate of change of market values in an area.
  • September 08 2011
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Profile picture for Ice L.
  • Ice L.Zillow
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tedyz -

I apologize but we do not remove properties from the website.

Please note that Zestimate is computer generated number based on public data. We do not take into account the condition of a property when calculating an estimate unless that current condition results in a much lower sale or tax assessed value. Zestimate is only an opinion and does not represent nor will replace the current market value of a property. You can do the following as the owner of the home:

1. You can claim your home on the website and make sure the facts are updated for your home.
2. You are able to comment letting other users why you think Zestimate is not accurate for your home.
3. If you have recent appraisal, you can also add those details in your home's descriptions.

Thank you.
  • September 08 2011
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