Please explain your estimate it is to low we had a pro on this the other day?

I recently tried to inform you that a  assessment had been done via email on this home at 818 S. 1st Ave Phoenix AZ 85003.  Your page and an update with my owner information and the reports assessment relating the home could be worth 60,000.00
you refused to accept this as truth??????  New water heater and hut, air conditioner major work up, cross vents inside, inspected by AZ LIC, Lead Certified exterior and interior, solar flood lights, laundry room sheet rocked and plumbing added and city link for sewer dump, termite inspection, Dunn Edwards Paint external two tone, insulation in attic added to R50, new thermostat, plumbing beefed up inside no leaks, no leaks and Umbrella policy on it.  BP policy full extension. No balance on a personal loan or by a bank. Now marked on street sign as a Historical Neighborhood by the City of Phoenix!
  • July 11 2012 - Central City
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    Answers (8)

    Profile picture for Blue in d Nile
    User...

    I had no clue you wanted to rent out your house "furnished".  You can easily set up your rental listing on Zillow at no cost to you, asking what ever you like.  Your user profile doesn't indicate you have any listings presently, and that you only created your profile today, claiming the home today.  And you did not post the photos to your home details page that you posted here.

    Your home details page also still has the prior "description" of the home when it was for sale last year, prior to your purchase Sept 27, 2011.  It still says "quick closing", which doesn't apply if it is not listed for sale.  And apparently the painting etc was all done prior to the purchase for $45k.

    Yes, someone paid $223k for it 5/31/07, but they lost their shirt on it due to buying during a market bubble that had to eventually "correct".

    Yes, rents presently are much higher per month in that area than mortgage payments, but one needs to remember to include other "costs" to a landlord when comparing than just mortgage amount, such as property taxes, property/liability insurance, maintenance, yard care, overhead, vacancies, possibly some utilities and/or trash service...

    Mortgage interest rates for investment properties also tend to be higher than for owner occupied.

    Anyway, I wish you luck on your rental endeavor.  As Byron pointed out, you can always call a Realtor if you need help with marketing.

    And since you questioned the Rent Zestimate too, you might also want to read the FAQ: What is a rent Zestimate.
    • July 11 2012
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    Profile picture for wetdawgs
    Dear user6078176:

    Your response is not addressing the question in the post.  Despite your comments, there was a question.

    The law does not address Rental Zestimates or other AVMs.   You can ask any rent you want for a rental, Zillow does not set the rental price.

    Here's a link to Terms of Use, as well as the Good Neighbor Policy.





    • July 11 2012
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    I don't need to I think that hiring a bank to do a real job may clear your tank off the field and will not be using you as a place of reference.  May be Wells Fargo Link to you is wrongfully in place!???
    • July 11 2012
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    [personal attacks deleted by Zillow moderator. Please see our Good Neighbor Policy]
    • July 11 2012
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    Profile picture for wetdawgs
    @user6078176:

    If you have a recent appraisal you wish to share, you can claim your home on Zillow and enter it in the space for your estimate just below the Zestimate table on the home details page.

    Zestimates are not collections of appraisals, but numbers generated with a computer model.   Both appraisals and Zestimates are opinions, but Zillow doesn't remove their Zestimate due to an appraisal value.

    Are you commenting that you'd like to rent at a higher price because it is a furnished rental?   Rental Zestimates are, like regular Zestimates, starting points.  Rental Zestimates assume unfurnished and no utilities included.

    • July 11 2012
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    [personal attacks deleted by Zillow moderator. Please see our Good Neighbor Policy]
    • July 11 2012
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    Profile picture for Blue in d Nile
    Zillow doesn't offer "appraisals", only an AVM.  It is the machine's "opinion" as a "starting point", and not a definitive value.  The numbers cannot be manually changed; only the under laying "core data" used in the modeling can be changed, but estimate changes due to data changes are intentionally phased in over a 2 month period.

    You can post your own appraisal, CMA, tax assessment, or what ever "estimate" you would like to present, and can provide your explanation of how your estimate was determined and when.

    See the FAQ: "what is a Zestimate".

    By the way, photos of furniture and throw rugs is kind of "pointless", since that is not part of the "real property" and would not go with the sale.  And you need an entirely different kind of appraisal from a different kind of appraiser for those "antiques".

    The only "useful" photos are the "security doors", as they indicate you live in an "unsafe neighborhood", and thus I should automatically lower any offer I make by at least $100k.

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    [self promotion deleted by Zillow moderator.]
    Byron Godfrey
    • July 11 2012
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