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What to do if my house appraised so much higher than the zillow estimate says?

My house appraised for $175,000 yet the zillowestimate is $116,000. That certainly won't help us sell our home!
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April 25 2012 - Marine City
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Answers (3)

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I believe the zestimate is misleading. I do think buyers look at that when buying a house. I used to before when I knew little about real estate. However, now I know how inaccurate it can be. In fact, when I bought my home, I thought it was worth a lot based on the zestimate so thought I was getting a great deal.

Now, my house appraised for 20K more than the zestimate. I purposely asked my realtor not to list on zillow when selling my house because it looks bad having a low zestimate vs a high asking price. Buyers WILL be turned off.

You can't really get away though because sites like redfin and others link to the zestimate. At least my eppraisal value is more in line with what my house should be valued at. I would say eppraisal.com is more accurate.
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April 25 2012
Zillow is an AVM (automated valuation Model) which has an accuracy of generally +/- 8%, and is as far off as 40%.  Zillow is to be used as a guideline only, as the computer does not know the facts about your property or the motivation of your neighbors who previously sold.  Use the help of a real estate professional to determine what a buyer is willing to pay for your property.
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April 25 2012
The market is in flux...improving for sellers quite a bit.  Zestimates don't take into consideration what an appraiser would.  Although a buyer may look at Zillow, the best information available will require review of the most recent sold data where Zillow often does not take into consideration the style and amenities to the extent that a buyer will, their Realtor, and the appraisal. Best of Luck!
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April 25 2012
 
Related Questions
What to do if my house appraised so much higher than the zillow estimate says?
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Latest answer by Optimus012
April 25 2012 | 3 answers
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