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Replies (19)
- sunnyview
- Contributions:25139
I do not think Zillow removes Zestimates or properties from their database by request. Are you sure that the other seller actually had their's removed?
amberlonnie-
Hi! Sunnyview was right. Our users want more data, not less. Home value trends over time is definitely one of the pieces of data that users enjoy looking at and we have no intention of removing a function of zillow that many find valuable.
If we allowed people to remove Zestimates, this site would no longer be an un-biased resource for buyers & sellers.
There is a possibility that what was removed by the other users were their own estimate of their properties and not the actual Zestimate.
Hi! Sunnyview was right. Our users want more data, not less. Home value trends over time is definitely one of the pieces of data that users enjoy looking at and we have no intention of removing a function of zillow that many find valuable.
If we allowed people to remove Zestimates, this site would no longer be an un-biased resource for buyers & sellers.
There is a possibility that what was removed by the other users were their own estimate of their properties and not the actual Zestimate.
- RyAugie
- Contributions:4
I Agree, I am a custom home builder, and a home owner who will be selling my home soon, and the inacuracy of the zestimate is an extreme turnoff to anyone on your site who is looking at buying my home, if you are not going to stand by your "Zestimate," or keep it up to date, leave it up to an appraiser for pricing our homes.
- RyAugie
- Contributions:4
Melanie M,
It would be understandable if Zillow used any or all of the methods of appraisal, but their calculations return way out of line with real world values, according to appraisers guidlines.
It would be understandable if Zillow used any or all of the methods of appraisal, but their calculations return way out of line with real world values, according to appraisers guidlines.
- RyAugie
- Contributions:4
I Agree, I am a custom home builder, and a home owner who will be selling my home soon, and the inacuracy of the zestimate is an extreme turnoff to anyone on your site who is looking at buying my home, if you are not going to stand by your "Zestimate," or keep it up to date, leave it up to an appraiser for pricing our homes.
- Carlos Bravo, "Karlhaus Realty"
- Contributions:164
Zillow should PROMINENTLY place a disclaimer that the "zestimate" in no way is intended to reflect Market Value. This would get them out of the hook as the typical user reads the "Zestimates" as representing Market Value.
Zillow should retain local real estate agents to provide more accurate estimates and comparables (The Zilow "comparables" mathematical model is pathetically innacurate). The use of local talent would improve greatly the accuracy of the data and truly provide value to users.
Zillow should retain local real estate agents to provide more accurate estimates and comparables (The Zilow "comparables" mathematical model is pathetically innacurate). The use of local talent would improve greatly the accuracy of the data and truly provide value to users.
- DWALLACH1
- Contributions:20
Zillow is doing us a big disjustice by pricing our homes way below value. Where do you get your information from?
"Our users want more data, not less. Home value trends over time is definitely one of the pieces of data that users enjoy looking at and we have no intention of removing a function of zillow that many find valuable.
If we allowed people to remove Zestimates, this site would no longer be an un-biased resource for buyers & sellers."
There is a false assumption here - that the site is un-biased. That is not true. It is a proprietary way of assigning value to a home with varying degrees of accuracy by Zillow's own admission. Nobody is suggesting that Zillow remove functions.
What is being requested is that individual homeowners be able to have their Zestimate masked (perhaps leaving the value range intact). We can have our owner's estimates masked, so it not difficult to have the Zestimate masked. And I don't think anyone is suggesting hiding public data or the graphs, either.
Sure, keep the trending graph. So many of them are so volitile (my own personal property dropped $90k, then up $70k, then down $11k in the span of year...), the Zestimate at the moment is quite suspect - hence a request to have it masked.
If masking the Zestimate is allowed, then perhaps plot the upper and lower bounds of the value range over time, instead? But I would indicate the relative uncertainty of the Zestimate (and make the validity of the masking request quite a bit stonger).
It's an interesting test of Zillow's confidence in its accuracy - if masking the Zestimate is allowed, is it admission of inaccuracy? Or, is Zillow afraid of how many requests for masking the Zestimate it would get? Maybe have a standard? When Zillow can claim >95% accuracy for a region, it's Zestimates cannot be masked.
Sure, Zillow is an intriguing, evolving tool. But it can have it's effect on a homeowner. Zillow should allow that effect to be minimized if the homeowner requests (but not if they use Zillow to market their home). The market is crazy enough right now.
If we allowed people to remove Zestimates, this site would no longer be an un-biased resource for buyers & sellers."
There is a false assumption here - that the site is un-biased. That is not true. It is a proprietary way of assigning value to a home with varying degrees of accuracy by Zillow's own admission. Nobody is suggesting that Zillow remove functions.
What is being requested is that individual homeowners be able to have their Zestimate masked (perhaps leaving the value range intact). We can have our owner's estimates masked, so it not difficult to have the Zestimate masked. And I don't think anyone is suggesting hiding public data or the graphs, either.
Sure, keep the trending graph. So many of them are so volitile (my own personal property dropped $90k, then up $70k, then down $11k in the span of year...), the Zestimate at the moment is quite suspect - hence a request to have it masked.
If masking the Zestimate is allowed, then perhaps plot the upper and lower bounds of the value range over time, instead? But I would indicate the relative uncertainty of the Zestimate (and make the validity of the masking request quite a bit stonger).
It's an interesting test of Zillow's confidence in its accuracy - if masking the Zestimate is allowed, is it admission of inaccuracy? Or, is Zillow afraid of how many requests for masking the Zestimate it would get? Maybe have a standard? When Zillow can claim >95% accuracy for a region, it's Zestimates cannot be masked.
Sure, Zillow is an intriguing, evolving tool. But it can have it's effect on a homeowner. Zillow should allow that effect to be minimized if the homeowner requests (but not if they use Zillow to market their home). The market is crazy enough right now.
- Stephen Keese, "Stephen Keese"
- Contributions:10
Instead of giving a single number for the Zestimate, the range only would be both more accurate and less likely to damage your reputation.
- Kathy Hansen, "HomeBuyersAgent"
- Contributions:320
I suspect "what's next" will be a suit against Zillow.
The Zestimate is simply a form of defamation.
The Zestimate is simply a form of defamation.
- Subbill Construction
- Contributions:44
I strongly disagree.
As a buyer, the zestimate is my BEST TOOL in looking at a property. If I dont see the zestimate, I don't even call or consider it.
I actually think the ZESTIMATES are WAY over. Most properties were listing at 85% of zestimate and selling for 75% of zestimate. Now with all the foreclosures in the market, there are tons listing at 65% or less of the zestimate. I wonder how much they will sell for. Every single one I have looked at, have been in the market for a long time at 60-65% of its zestimate.
As a buyer, the zestimate is my BEST TOOL in looking at a property. If I dont see the zestimate, I don't even call or consider it.
I actually think the ZESTIMATES are WAY over. Most properties were listing at 85% of zestimate and selling for 75% of zestimate. Now with all the foreclosures in the market, there are tons listing at 65% or less of the zestimate. I wonder how much they will sell for. Every single one I have looked at, have been in the market for a long time at 60-65% of its zestimate.
- accesstech
- Contributions:2
If Zillow will not mask their zestimate of my home that is obviously way out from my neighbors and they cannot zestimate, I plan to start a grass roots effort with my congressman to make it unlawful. It is something akind to the telemarketing Do Not Call list or unlisted telephone numbers.
- accesstech
- Contributions:2
Meant to say "justify their zestimate above.
- notavirtualhomeowner
- Contributions:9
I am astounded that people take this website seriously. Only an extremely naive and inexperienced buyer would give it a second look. Anyone who relies on an online estimate created by an unknown person or group of people who have perhaps never even stepped foot in the state where the home is located should not attempt to take on the responsibilities of homeownership.
notavirtualhomeowner,
I agree with you about relying on the Zestimate, but that's exactly what folks are doing. arash3725 might live in an area with consistently optimistic Zestimates, but there are folks who live in neighborhoods with less data and rare home sales. Zestimates can be really low in this case.
In this market, anyone trying to sell does not need to fight against dubious figures. It's hard enough as it is. Logic sometimes doesn't win...
I agree with you about relying on the Zestimate, but that's exactly what folks are doing. arash3725 might live in an area with consistently optimistic Zestimates, but there are folks who live in neighborhoods with less data and rare home sales. Zestimates can be really low in this case.
In this market, anyone trying to sell does not need to fight against dubious figures. It's hard enough as it is. Logic sometimes doesn't win...
- BirdOfDeath
- Contributions:5
A house is only worth what some Greater Fool is willing to pay.
If you have a buyer who is only willing to pay A and you want B, and A<<B, then to sell to that person you must sell for A. You may decide to wait for someone whom offers B, and that is your decision.
You may also make compelling arguments as to why your property is worth B, but if the buyer doesn't accept your arguments, then see above.
In the end Zillow doesn't play much of a role.
If you have a buyer who is only willing to pay A and you want B, and A<<B, then to sell to that person you must sell for A. You may decide to wait for someone whom offers B, and that is your decision.
You may also make compelling arguments as to why your property is worth B, but if the buyer doesn't accept your arguments, then see above.
In the end Zillow doesn't play much of a role.
- BirdOfDeath
- Contributions:5
A house is only worth what some Greater Fool is willing to pay.
If you have a buyer who is only willing to pay A and you want B, and A<<B, then to sell to that person you must sell for A. You may decide to wait for someone whom offers B, and that is your decision.
You may also make compelling arguments as to why your property is worth B, but if the buyer doesn't accept your arguments, then see above.
In the end Zillow doesn't play much of a role.
If you have a buyer who is only willing to pay A and you want B, and A<<B, then to sell to that person you must sell for A. You may decide to wait for someone whom offers B, and that is your decision.
You may also make compelling arguments as to why your property is worth B, but if the buyer doesn't accept your arguments, then see above.
In the end Zillow doesn't play much of a role.
- rushmoretax
- Contributions:2
Zestimate CAN be removed. My neighbor 2508 113th Pl SE Everett WA 98208 has no zestimate while EVERY other home in this 15 year old neighborhood has a Zestimate.
His home used to have a zestimate. It is now gone. Everytime I look. No zestimate.
Go figure.
His home used to have a zestimate. It is now gone. Everytime I look. No zestimate.
Go figure.
- user7153518
- Contributions:1
Only an idiot would buy or sell a home based on these facts! Zillow only has about 10-15 % of the accurat information need in order to figure a homes current market value. I'm currently selling my home but if a buyer thinks they can buy a home like mine for the price of the zestimate..you better buy it.
Please remove Zestimate
Can you please remove the zestimate. It is way off and could affect the sale of my home. I was on the discussions talking with another seller and they suggested asking for it to be removed. You have done this for them and I would like the same if possible.
Thanks
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