Profile picture for misujry

I don't understand how Zillow comes up with these home values.

My house in FL, is a two story, 3BR, 2bath home on a private crystal clear spring fed lake, which is all on 108 acres that borders a river that ends up at the Gulf of Mexico and they they email me that the value went down $2,200 to $122K. What!  How can one get Zillow to grasp the value of property?
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November 07 2011 - Homosassa
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Profile picture for sunnyview
There is also an explanation here about the Zestimate. The problem is that Zillow's valuation is automated and does not include the unique features of your property, the updates or specialized comps.

The more off the norm your house is the less accuracy that Zillow often has. All they have are numbers alone and that does not tell the whole story about your house value.
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November 07 2011
It's done based on several factors that do not include improvements on your house and other aesthetic qualities that are hard to put a price on.  For a more accurate idea of what your house is worth, you can always call a Realtor® and ask for their opinion.  They will compare your home and it's unique features to other homes in your area to get a better idea of what it may sell for if put on the market today.  If you want to value your home with a report that holds more water legally (like for a refinance) then hire a professional appraiser and get it backed up with a Realtor's advice.  Good Luck!
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November 07 2011
Scroll to the bottom of this page and click on the explanation link.  All will be explained.
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November 07 2011
 
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