Profile picture for jdentoncampbell

My house is appraised at fifty thousand more than the zestimate...why?

How is the zestimate determined?
  • October 06 2011 - Greenwood
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Answers (7)

Profile picture for sunnyview
There is more information on the Zesitmate and how it is compiled here. A Zestimate is not an appraisal. It is a numbers only valuation. Also an appraisal is not a sale so appraisals while usually more specific and accurate than an automated valuation sometimes also so not reflect the market value.
  • October 06 2011
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Profile picture for Julann Carney
Dear Jdentoncampbell,
Zestimates are bare bones values derived from tax data. Continue to edit your home facts with relevant information - year that your house had updates, property square feet (which you have already done); lot size, floor coverings & any other improvements. Eventually the zestimate will go up somewhat. Keep in mind that these zestimates are not the same as an actual appraised value. I've watched different listings take a few months to attain closer to actual market value.
Best of luck!
Julann Carney, Realtor
Plantation Realty Company
  • October 06 2011
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This link tells you what Zillow says about the way the zestimate is determined: http://www.zillow.com/wikipages/What-is-a-Zestimate/

  • October 06 2011
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Profile picture for wetdawgs
It takes several weeks to several months for the Zestimate to respond fully to edits, so as you appear to have edited recently the Zestimate change that you noted is the 3x a week normal Zestimate update and not in response to your edits.

  • October 06 2011
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Profile picture for jdentoncampbell
I did edit the home data.  Zillow had the house with 2300 sq ft instead of the 2732 sq ft that it actually is.  After I edited, the zestimate went DOWN instead of UP!!!  Crazy!
  • October 06 2011
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Profile picture for wetdawgs
A Zestimate is a number using the core public facts such as size, location, room number, lot size, last sale price, tax value.   It doesn't include features that may add value such as views, water front, upgrades, pools etc.   Therefore, a Zestimate is a starting point and not an appraisal.

One of the first things to do is to check the home data for your home on Zillow.  If it is incorrect (or missing), claim your home and edit the data. 
  • October 06 2011
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a "Zestimate" is not an appraisal.  a Zestimate is a general synopsis of the area.  An appraisal will focus on the specific home, and compare apples to apples.
  • October 06 2011
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