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We have our home listed on Zillow and the value it's saying is severly wrong. How can it be fixed?

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September 27 2011 - Chestnut Hill Township
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Profile picture for Pasadenan
By the way, if you have your home "listed" with an agent, you will likely need to have the agent make the changes as you can't "claim" ownership while the agent has control of the home details page.

Zillow doesn't allow two parties to have control of the same home details page concurrently.
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September 28 2011
Profile picture for Pasadenan
Go to the home details page (use the homes tab above and look it up by address)

Use the "edit" pull down tab under the main photo, and select "claim ownership".  Provide the answers to the questions asked.  (It may ask you to log in again to make sure it is still you...)

Then, select "edit" again, and select "edit home facts" or "edit home description", or "add/edit photos" ... put in all the revised correct info.

Also don't forget to put in your comment on the Zestimate.  After you have claimed the home, there will be a button for that slightly below the Zestimate range in the charts and data section, above the graph.
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September 28 2011
Profile picture for sunnyview
You can claim your home and update the home facts immediately. Go to your main home page and use the yellow "Edit" pencil under the main house photo to claim your house and then you will be able to "edit home facts" with a link in that same menu on your home page.

You can also flag any information like past sales prices that are incorrect to let Zillow know about the error. Your edits will show immediately, but if they affect your Zestimate that may take a few weeks to fully show up in the larger numbers. Hope it helps. 
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September 28 2011
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Thank you all for your input. So how does one go about updating their home information on Zillow? Thanks!
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September 28 2011
Profile picture for Pasadenan
Zillow machine generated opinions of approximate value are highly dependent on Last sold price adjusted for the last sold date, and tax assessed value adjusted for the local property tax rules.

If you did substantial improvements since purchase; and the tax assessed value already increased due to the improvements, and you have the correct size, lot size, beds, baths...  you likely can't do anything to change the machine estimate except for to sell the property to get a new "last sold price & date".

That is just an idiosyncrasy with the modeling method used.  If someone could find a way to extract "improvements" from public records; I sure Zillow would be anxious to know.

(You can't estimate something if you have no measurements for it).

Use the "owner/agent Comment on the Zestimate" provision on the home details page to explain the specifics.

The wider the difference between a Zestimate and a list price, the more likely the page will be opened by home searchers to find out why; so it is a "marketing advantage" to have a low Zestimate since it helps with marketing exposure.
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September 28 2011
I agree with John.

Try to think of Zillow as a computer based appraisal system. When an interior appraisal is done, an individual would come to your home and value it based on location, size, features, finishes, etc.

Feel free to put in as many upgrades as you can to Zillow, and just know that you can always order an interior appraisal in the future for piece of mind.

Best of luck!

TG
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September 28 2011
Hi this is the link that I wanted to send you hope it helps.
http://www.youtube.com/watch?v=uaeAgfay01o
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September 27 2011
Hi Zillow has some very interesting descriptions on youtube. I think this link should be helpful. Keep in mind that a Zestimate is just an estimate and not to be a substitute of a CMA Comparable Market Analysis of a local agent that has their finger on the pulse of market conditions in their area of expertise. Good luck

http://www.zillow.com/wikipages/What-is-a-Zestimate/
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September 27 2011
One way to determine the value is based on current solds. No matter what you see here, this is not gospel. It's what a home is selling for in any given neighborhoood or region. The information is pulled from many different sources and not always the most accurate. It comes through the solds on any given area and averages them out. My own neighborhood is low for what the homes sell for. It's pulling everything to get to the Zestimates. Keep in mind, its what has sold that counts in any city or community. It's what appraisers use to determine value and it's how Realtors assist the public in establishing value. MLS is a more dependable source for market values since it's base on actual solds and the data is current. Thank you for your question
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September 27 2011
Hello,
Try to list all the upgrades that you have: finished basement, new front door, new kitchen, etc...
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September 27 2011
 
Related Questions
We have our home listed on Zillow and the value it's saying is severly wrong. How can it be fixed?
Profile picture for Pasadenan
Latest answer by Pasadenan
September 28 2011 | 10 answers
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