Profile picture for stoor

What if the Zestimate is WAY OFF after they changed their algorithm (based on value of other units)?

After the algorithm change my value dropped 15% even though every unit around mine stayed the same (in the same condo building). So now there is a place down the hall, same number of bedrooms and bathrooms, but mine is 15% bigger but their zestimate is 3% higher than mine. Makes zero sense. 
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June 16 2011 - Shaw
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Profile picture for bookreader451
I was wondering the same thing.  If they are using google's street view they are even further off base as the home has been painted and landscaped, a driveway and garage added.

The housing market in my area is holding steady and the house two doors down, with less square footage and a smaller lot sold recently for over $10,000 more than my zestimate. 
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June 17 2011
Profile picture for wetdawgs
nandaben's fantasies about google street view are indeed fantasies.   Zillow is not evaluating each property visually.
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June 17 2011
Profile picture for nandaben

Your consternation would be well placed except for the fact that zillow uses a version google street view to see inside each unit and evaluate the interior upgrades and each unit's cleanliness, hence the difference of values for identical units in identical buildings in the same condo cluster. This information is then punched into an IBM 9000 running a proprietary alogorithm that was designed by super smart programmers who are fed only reprocessed solid waste products. I forget what the saying was, but it was something like "solid waste in,solid waste out" or something like that.

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June 16 2011
 
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What if the Zestimate is WAY OFF after they changed their algorithm (based on value of other units)?
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Latest answer by wetdawgs
June 17 2011 | 3 answers
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