- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (6)
- sunnyview
- Contributions:25139
I agree there is a big difference between Zillow and an appraisal. This update has been painful. I hope that it will make things better in the end, but right now many charts that I have looked at are wonky while others seem unaffected.
Give Zillow some time to iron out the creases and hopefully it will be better soon. There is thread here where you can comment about the changes and tell Zillow what you're seeing in your specific area. If you see houses that a clearly in error, please post the address (but please don't post your own for privacy reasons) so they can look at it.
I think constructive feedback will help Zillow make this change a plus for users and make the site better overall.
Give Zillow some time to iron out the creases and hopefully it will be better soon. There is thread here where you can comment about the changes and tell Zillow what you're seeing in your specific area. If you see houses that a clearly in error, please post the address (but please don't post your own for privacy reasons) so they can look at it.
I think constructive feedback will help Zillow make this change a plus for users and make the site better overall.
- Balse
- Contributions:1
There is huge difference between zillow estimated value and the appraisal value of the house with the new formula and hence zillow is losing the credibility really fast . Hope they fix the problem soon otherwise zillow estimates might become outdated and someone else could come up with better option to get the real estimated value. Its funny to see the price changing significantly within days without any real reason and with old data also being wiped out.
- SoCal_Engr
- Contributions:5667
"There are a few algorithmic developments that we are still working on and, once these are done, we intend to re-compute all Zestimates back to 1996."
While painful now, this is potentially good news. By re-computing the Zestimates back to 1996, there will be more empirical data (i.e., actual sales) to compare and validate the results of the new algorithm.
Maybe I'm a glass-half-full, naive, or rosy-glasses kind of person - but I believe that this will, in the long run, be a good thing for Zestimates. But, then again, I've never been too hung up on Zestimates - just find them an interesting data point.
While painful now, this is potentially good news. By re-computing the Zestimates back to 1996, there will be more empirical data (i.e., actual sales) to compare and validate the results of the new algorithm.
Maybe I'm a glass-half-full, naive, or rosy-glasses kind of person - but I believe that this will, in the long run, be a good thing for Zestimates. But, then again, I've never been too hung up on Zestimates - just find them an interesting data point.
- Dunes....
- Contributions:3894
Zillow says
http://www.zillow.com/blog/research/2011/06/14/upgrading-the-zestimate/
What do you say?
"Historical Zestimates"
"With the data delivery yesterday, we have re-computed historical Zestimates back to January 2006. There are a few algorithmic developments that we are still working on and, once these are done, we intend to re-compute all Zestimates back to 1996."http://www.zillow.com/blog/research/2011/06/14/upgrading-the-zestimate/
What do you say?
- chalklane
- Contributions:2
New formula is a joke. Our house value just tanked according to zillow. My neighbors house did not change its value but mine and most of the neighborhood did. My value is now 70K less than it was before and across the street their house is much smaller and not updated but is valued much more than mine.
I will not look at zillow after today someone else need to come up with a better program.
I will not look at zillow after today someone else need to come up with a better program.
- Very Selective
- Contributions:26
I just noticed the same thing, it's an outrage it wasn't clearly indicated that I was apparently looking at radically updated data. And it's completely inaccurate now too. My next door neighbor's house, wihch is 1,000 sf smaller than mine and far less features, kept it's exact value, but since mine fell so far it's actually now listed as lower value. What a complete crock.
The new Zillow formula rolled out on 6/13/11 also erased all the old charts! Why?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.