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When a home lists for $495K but the Zestimate is $90K...why the difference and if the market value r

  • June 12 2012 - Odon
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Answers (2)

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I searched the Entire United States on Zillow, and the closest I could find to $495k list price, $90k Zestimate are:

(undisclosed Address), Huntsville, AR  $495k list, $87.3k Zestimate

Tbd Bayview Ln, Livingston, TX $495k list, $87.5k Zestimate

102 N Main St, Ada, OH $495k list, $91.4k Zestimate

14565 Old Houston Rd, Conroe, TX $495k list, $91.9k Zestimate

Texas is also a "non Disclosure" state.
Homes that don't have a known location are also more difficult to estimate as the distances to "recently sold" or "presently listed" is "unknown" or approximated using a "random" location.
  • June 12 2012
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 Although Zillow calculates estimates for 11.5 thousand homes out of 11.8 thousand homes shown in Daviess County Indiana, Indiana is a "non disclosure" state, meaning that Zillow doesn't have access to "sold" data, and thus models to listing prices instead.  And Zillow is not able to calculate a tolerance range since they have no "sold" data to check their estimates against.

But for all the properties listed for sale in Indiana in the $495k range, or sold within the last 3 years posted on Zillow in the $495k range, I seen "none" with a Zestimate of $90k.

Even if there are, it is primarily due to not having all the present data for house size, lot size, # bedrooms, #baths, etc.  It can also indicate a home was completely refurbished or built new since last purchase, but since the purchase data is not available for Indiana, that is usually not the primary cause in that state.

The "lowest" Zestimate in Indiana for a home in the $495k listing price range is $137.1k presently.

And don't forget, that an owner or agent can ask for anything they want for a property.  it doesn't mean they will actually get that.

Zillow's "estimate" is "never" the "present market value" anyway.  If you thought is was, you forgot to read the FAQ:
what is a Zestimate

If you want an "appraisal", you will have to pay for one.  No one offers free appraisals, even though there are thousands of AVM's in use in the United States with dozens of them offering "free" machine generated opinions approximate value.
  • June 12 2012
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