Profile picture for user7062246

My home's value on zillow is much lower than my recent property assessment?

  • April 07 2012 - Richmond
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (3)

Profile picture for wetdawgs
Welcome to Zillow user7062246:

When one starts wondering about the value of one's property and doing some investigation, it is clear that there are many ways to come up with a number and not all of them agree (in fact, it is rare for them to all agree).

Property tax assessors want to get every tax penny out of you possible, and are often far from market value.

If you are concerned about the Zestimate, take time to evaluate the data used.  If there are errors, claim your home and correct them.   Take a look at the value range provided on the home details page.  This range is (IMHO), far more important than the Zestimate.   Remember that Zillow calls a Zestimate a starting point, not a substitute for an appraisal or CMA.

If you wish for someone to take an in person look at your house, consider a CMA.   Some agents do an excellent job, some do a lousy job.   An agent that adds a value range to their CMA number (like Zillow does) gets my thumbs up any day (but be aware not many do).  It doesn't hurt to ask the agents for some statistics on their CMAs (e.g. statistics of CMAs run on their listings vs actual sales prices).   It may open one's eyes towards the magic of CMAs.

The only exact number for your house? The number on the check when someone buys it, the rest are all estimates using varying input.



  • April 07 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Dunes ..
I love the Smell of Trulia in the Morning

Good Neighbor Policy.
It's a quick easy read
  • April 07 2012
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

That's not uncommon, and it can be especially frustrating if you are trying to sell and people keep pointing to the "zestimate" as some sort of valid indicator of market value.  Stand your ground.  Provide any potential purchaser with the basis for your home's value in the form of recent comparable sales, or, even better, an appraisal.  In 9 cases out of 10, the zestimate is - in my opinion - total and complete horse-hockey.  

[self promotion and contact information deleted by Zillow moderator. Please see our Good Neighbor Policy]

  • April 07 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.