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The value of my home is not accurate. How do I correct it?

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October 18 2012 - Arlington
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Answers (6)

Profile picture for amelietremblay6
Very true, its not necessary to have Zestimates accurate, as it calculates the estimated value depending upon the factors like detailed information about home, area of home in Square foot, numbers rooms specifying bedrooms, bathrooms, kitchen and garage description, whether it is furnished or not? etc. The more data available, the more accurate the Zestimate for your home. Also the place of your new home matters while calculating it for example Zestimate for a home in Brampton will differ for same home in Barrie. I hope you got the answer. I used this Zestimate values last time while purchasing new home in Innisfil and trust me it helps by giving basic idea.
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March 31
Profile picture for pkwichman
There must be some correlation between the  market value and monthly rent estimates.  I have a home with a Zillow rent estimate of $3,991, but my tenant (of 3 years) is paying $6,000 per month.  How do they reconcile this?  In most markets the real value is what a buyer (or renter) is willing to pay.  I think a 50% gap in the "Zestimate" vs. market value is significant......
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March 30
A Zestimate is just that, a estimate.  It is based on a complex algorithm, I'm not exactly sure how it works, but I wouldn't put to much stock into it.  I would focus more on what properties around you with similar characteristics to your home are listed for, have sold for, etc. 
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November 05 2012
Many of Zillows Zestimates are inaccurate , mostly I see them too high but also have seen them too low. Zillow has a computer based analysis of homes, there is no physical examination. So your normal sale could be compared to a less than average condition foreclosure. They are not endorsed by any association of realtors and have no determination in market value or what you could sell your home for. Comparable's of sold homes within 6 mos from a realtor and an appraiser will give you a better indication of what you could sell for.
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November 05 2012
Profile picture for wetdawgs
Zillow's "What is a Zestimate?" describes some actions a home owner can take that may affect the Zestimate over time.   In addition, if you claim your home on Zillow you can enter your opinion of your home's value be it from a recent CMA or appraisal, or simply your opinion
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October 18 2012
Zillow uses a complicated algorithem (sp) to determine the value of your home on its website. You should contact a Realtor who can do a comparative market analysis and when you go to sell your home it will be appraised in the process.
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October 18 2012
 
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