Profile picture for whoisthere

New zillow estimate is flawed!

I have seen two houses near mine that have home owner data that has been added incorrectly.  They put the lot size sqft value into the house sqft value.  This makes the houses go from 2500sqft to over 6000sqft.  The new Zillow algorithm takes this bad data and over inflates the values of these houses.  This data is also driving down the estimates of nearby houses.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 13 2011 - Tracy
We think we've answered this question for you!
 
 

Replies (14)

Profile picture for wetdawgs
I've seen similar errors in editing.  I simply flag them and report them for what they are.   Usually I've seen them fixed in the next couple of weeks.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 13 2011
If you are looking for a custom free valuation of your property, I can provide that to you right away.

Thanks
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 13 2011
Profile picture for mattroberts

My opinion is that the new Z-estimate calculation is indeed flawed. It relies too heavily on actual sales data from years ago and then doesn't properly adjust it's expectation for the drop in the market. Example: My next door neighbor paid ~650 for his house in 2006. It is comparable in square footage to the average ont he block, however, it is valued at ~500 while the rest are at ~435. Mine, for example, is ~350 sq feet larger and comparable as far as curb appeal and upgrades inside and only showing ~440. Not only that, other comparable places on my street that are ~350 sq feet less than mine and haven't sold recently are in many cases have a higher value than mine. All my data in Zillow is correct, but this new methodology decreased my value ~25k in one day. Doesn't make sense. Something is wrong. Check your calculations.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 13 2011
These type of human errors will always mess up an automated system. "Zestimates" are an estimated idea of value which works with good data. The best thing to do is get a local Realtor to do a market analysis of the homes that have sold or are for sale and close in size, distance and age to your home. Local realtors have knowledge of the neighborhoods and other factors affecting value in your area.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 14 2011
Profile picture for whoisthere
Being a programmer I know just how easy it is to prevent this type of error.  All Zillow needs to do is acknowledge it is an issue and write a few lines of code to flag these errors automatically for review.  But in the mean time their claim of "More accurate" results is an out right lie.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 18 2011

I am sure zillow is doing their best to get everything right, however everywhere you look on Zillow pages there is a disclaimer. They say they are not perfect....they are working towards that goal no doubt. IN the meantime, if you want to really, really know what your house is worth, spend the money and hire an appraiser or ask a real estate agent to tell you for free. Zillow is a terrific free service, its not meant to tell you exactly what your house is worth, they cant get inside, they cant see your upgrades or beautiful landscaping in the back.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 18 2011
Profile picture for bagladyz
If they can't get within a range of a few thousand, then they shouldn't be posting "estimates" for the worth of your home. Everyone knows that realtors AND buyers utilize zillow - so this site has just literally turned into a joke.

They are no longer reputable unless they fix this glitch.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 18 2011
Profile picture for mattroberts

You are absolutely correct about the disclaimer Sharon, however, the truth is not only are buyers and sellers using zillow as a sanity check against real life transactions like bagladyz mentioned, appraisers are also using it to check their final figures against. Appraisers are already being very conservative given the lending conditions and the strong push not to overinflate housing values as to prevent another collapse of the real estate market. That being said, they are very unlikely to value a home at $500,000 if a site the size of and with the positive reputation of Zillow estimates that is is worth $450,000. Appraisers have their own reputations to uphold in this market and don't need to take any risk of being wrong, or worse yet, not as intelligent as a complex proprietary algorithm written by people with more degrees than them. So the appraiser won't appraise it for what it might really be worth so the bank funding the loan won't provide the loan for as much and you won't have the opportunity to sell your house for it's true value. Zillow has an opportunity to play a much larger role in the value of homes that one gives them credit and needs to fix their flawed calculations.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 18 2011
Profile picture for whoisthere
Zillow as a site may be free but they are making money off their site while publishing incorrect information.  Disclaimer or not they are profiting off of lies while hurting home owners as well as the professionals in the business.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 26 2011
Profile picture for Pasadenan
The only ones "lying" are the Realtors® posting false information about the properties; such as using the lot size for the house square footage.

When you find errors, flag them so that they can be corrected.  In addition, file a formal complaint against the agent and their broker with their local board and the state licensing department.

A small percentage of dishonest agents are giving the profession a really bad reputation.  Those dishonest agents need to be put out of business, even if they do claim it was only a careless mistake.

As for Realtor Estimates?  Why are so many of them lowering the listing price, by 5%, or 7%, or 10%, or 15% or 18% in just a month????

Don't you think it might be because their CMA's are worse than a machine estimate?

No, I'm not stating that no Realtors provide good CMA's; I'm only stating that some of them don't put in the time, effort, and details to get a true competitive market analysis of present market value.  And it certainly is likely to be substantially different than an appraisal by a license appraiser, as licensed sales agents are not licensed to do appraisals.

So, don't randomly call a Realtor and expect to find "true market value", as you likely won't get that information.

Better yet, get 7 estimates, throw out the top and bottom, and average the rest.

You can even do that with AVM websites, as there are over 20 of them.

And don't think that people "gaming" the Z-Estimates is new; they have been doing that for over 5 years...

Zillow tries to close the loopholes and has made it easier to flag obvious errors, so these things should happen less and less.  But you still can't prevent people from outright lying no matter how hard you try.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 26 2011
Call the listing agent and tell him of the problem and have him correct it.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 26 2011
Profile picture for whoisthere
The errors were put in by the home owners not Realtors.  I have reported the mistakes over three weeks ago and still Zillow has done nothing.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 28 2011
Profile picture for whoisthere
Another year and 10 complaints later and Zillow still hasn't responded.  What a scam of a website.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 11 2012
@ whoisthere

"Another year and 10 complaints later and Zillow still hasn't responded.  What a scam of a website"

Good to see that you are not giving up. The more people who question this BS the better for all and is the only way that reform will happen. Its time that websites like zillow were subjected to regulation like other utilities that impact on the lives of ordinary people the way that inaccurate zestimates do.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 11 2012
 
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
Related Discussions
New zillow estimate is flawed!
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 1320 Rowland Ct, Tracy, CA Home For Sale
    1320 Rowland Ct, Tracy, CA 95377

     For Sale: $525,000

    • Beds: 4
    • Sqft: 2492
    • Baths: 3.0
    • Lot: 6922
  2. 2151 Bentley Ln, Tracy, CA Home For Sale
    2151 Bentley Ln, Tracy, CA 95376

     For Sale: $478,888

    • Beds: 4
    • Sqft: 1954
    • Baths: 3.0
    • Lot: 5227
  3. 15922 4 Corners Ct, Lathrop, CA Home For Sale
    15922 4 Corners Ct, Lathrop, CA 95330

     For Sale: $315,000

    • Beds: 3
    • Sqft: 1974
    • Baths: 2.5
    • Lot: --