I disagree with the recent change to historical Zestimates based on the new algorithm

Profile picture for markfriess
If it was a historical value, it should be just that, a historical value, not subject to future algorithm changes that are applied retrospectively.  I am not sure what you put into that new algorithm but none of the three homes I have owned over the past 5 years have a curve that look anything like they used to, or similar to their overall neighborhoods even.  Not sure what you did Zillow, but the change doesn't seem very above board. 
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June 14 2011 - Hayhurst
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Profile picture for SoCal_Engr
It may not seem logical, but the reality is that past Zestimates were only a product of the Zestimate algorithm. So, when the algorithm changes (assumption is that it is improved), then applying it to historic values makes sense (i.e., the trend line only makes sense if it is tracking the same algorithm, since the values being tracked are Zestimates vice actual values). What should not change is the factual data (i.e., actual sale prices).
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June 14 2011
Profile picture for RussHatfield
Hi Mark,

SoCal_Engr explains our reasoning on this very well. It was important to do this because we want changes in Zestimate values over time to reflect changes in the market, not changes in how Zillow computes its algorithm. Our new algorithm doesn't just improve current accuracy, it improves historical accuracy, giving consumers a better idea of what a home was worth over time.

Thanks for using Zillow!
Russ
Zillow Customer Support
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June 15 2011
 
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DiscussionI disagree with the recent change to historical Zestimates based on the new algorithm
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