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My Zestimate is $14K (appox. 7.5%) less then an idential home..

an exact comp. home two doors down from me.   Also, these homes are "cookie cutter" homes and are virtually identical.

with the same exact square footage.  Although my house even has 4 bedrooms, instead of 3 like the other home, and my lot size has 5,227 more feet and is fenced in.

Please let me know how my Zestimate was determined, and if this can be changed.  I'm planning to put my home up for sale soon, and believe this Zestimate will reflect negatively towards my asking price.
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November 03 2010 - East Raleigh
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Replies (3)

Zestimates do vary widely.  Look at the bottom of the page for the link "Zestimate Values and Accuracy" and Zillow will show you themselves.  The Zestimate formula is secret, but is based on the information in the Tax Records, which is often wrong.

If you work with a professional Realtor (like myself), we will do our own analysis of the value of your home.  We hve all the information and more that Zillow uses, but also have the ability to look at the home, neighborhood etc., and bring our experience into the equation.

If you would like me to help with a Comparative Market Analysis, contact me through my profile and I will help

Best regards

Nigel
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November 03 2010
As Nigel said the Zestimates are more often than not way off.  The best thing to do is get a comparable market evaluation from a real estate broker such as myself or Nigel where we can use the latest sales data, information on whether or not closing costs were paid or any other incentives.  Zillow is working hard to have more accurate data but that is not their current focus. 

In the meantime you may want to claim your home and make sure that all the information is accurate.  If there are features Zillow doesn't have the correct information for in either home this may cause a difference in values.

Good luck with selling your home and feel free to contact me here through Zillow with any specific questions or to get a free market evaluation to determine the best price to list your home when you are ready.
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November 03 2010
Thank you for once again proving that ZESTIMATES are SERIOUSLY flawed and inaccurate. Hire a Realtor for a true market analysis.
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November 10 2010
 
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Related Discussions
My Zestimate is $14K (appox. 7.5%) less then an idential home..
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Latest reply by Nathan Wolf
November 10 2010 | 3 answers
  • Posted by mgschreiner
  • In Pricing
  • November 03 2010
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