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Answers (9)
- Cheryl Talbot Real Estate, "Virginia Beach Homes"
- Contributions:674
The market is set by what the homes sell for. You can pull any of that data through MLS. Since all these sites pull from MLS, think of it as the Holy Grail. It all starts and stops there. The homes are listed and they are sold. Those numbers make up the MLS data base which everyone pulls from. Not to worry. We are educating the public so they too understand that MLS is the most accurate information out there. That's where appraisers look for their data, the banks and so on. Buyers understand this more than ever because we are proving to them by showing the most current and correct data. Thanks
- kelbot74
- Contributions:3
Thank you for your viewpoints, this is very helpful. I just want to make sure when I go to sell it in a year that I am not hurt by this very subjective number. I have also spoken with my agent this morning and she gave a lot of the same advice.
- droopyd
- Contributions:403
I don't understand why mine has gone up $40k in the past month.... unless it's to compensate having gone down $40k the month previous :)
@rchan
I am perfectly capable of doing both. I wouldn't want to deprive people of an alternative view that zestimates are frequently wrong, seeing as most posters are pro zillow. Call it a public service obligation as I share my experiences of the past 6 months with 1st time posters. It is an advice forum after all.
I am perfectly capable of doing both. I wouldn't want to deprive people of an alternative view that zestimates are frequently wrong, seeing as most posters are pro zillow. Call it a public service obligation as I share my experiences of the past 6 months with 1st time posters. It is an advice forum after all.
- Tug of War
- Contributions:1969
That's what you think ..Surbiton thinks otherwise..thinks they are right
Just like 2-3-4-5 other members keep saying what they think about the zestimate over and over and over and over and over again...because of course they are right
More important to make sure everyone knows they are Right..knows that they are the Smart ones than any actual concern about anything else imo
Just like 2-3-4-5 other members keep saying what they think about the zestimate over and over and over and over and over again...because of course they are right
More important to make sure everyone knows they are Right..knows that they are the Smart ones than any actual concern about anything else imo
- Rchan81
- Contributions:73
Surbiton - Instead of posting here constantly, I think your efforts are better spent writing your local representative and congressman. If you want the zestimate to be regulated, that is your best bet, not posting here on Zillow.
@kelbot74
The bad news is no one at Zillow cares that their algorithm is causing you problems like this. In the same way as most posters on this forum don't care and offer just platitudes about zestimates being a starting point, or just indicative. That's fine unless it's your home that has the garbage valuation, then its very personal and has a completely different perspective. You realise as you have stated that it makes no sense.
Basically, if zillow cannot be trusted to act in a socially responsible way with this database of over 100 million homes then it will be necessary for our Legislators to introduce some form of regulation to ensure that homeowners are not disadvantaged in this way.
The bad news is no one at Zillow cares that their algorithm is causing you problems like this. In the same way as most posters on this forum don't care and offer just platitudes about zestimates being a starting point, or just indicative. That's fine unless it's your home that has the garbage valuation, then its very personal and has a completely different perspective. You realise as you have stated that it makes no sense.
Basically, if zillow cannot be trusted to act in a socially responsible way with this database of over 100 million homes then it will be necessary for our Legislators to introduce some form of regulation to ensure that homeowners are not disadvantaged in this way.
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
- Robin Markella, "dsails"
- Contributions:3
Zestimates are based truly on mathematically calculations using comparitives in the area as well as your assessed value with the town you are in. Honetly it is something most of us realtors and clients can't rely on. There is many situations like yours that don't make "logical" sense. Aslo it sounds like you have some very high end items that can't be known during the calculation. I would not worry about it. Just know many are in the same boat with "guesstimates being too high or too low" When you sell realtors and buyers will see the difference in the updates you have done. Good Luck!
Question about Zestimate
I own a condo in Charlestown, MA and I do not understand why the "zestimate" has dropped $23,000 in the last 6 months on my condo considering this place was just fully updated less than 1 year ago and the 2 other condos attached in the same house have increased when they are almost exactly the same (one larger by 100 sq ft, one smaller by 200 sq ft) and in fact my condo has 2 marble bathrooms and the other condos have 1.5 and 1 bath.
Also the housing overall in Charlestown, MA has increased, so this huge drop in the "zestimate" does not make sense.
I would like to have an explanation of this change, can someone contact me directly for more information to explain?
Thank you for your time
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