Profile picture for jwhistle7322

Where do you come up with your "zestimates"???

Our apartnment 3D has a "zestimate" of $732,000, yet 3B SOLD a month ago for $790,000 and 3C just last week for $925,000 - all 2 BR 1 BA apartments.  3B had ONE closet and a decorative FP;  3C NO FP, and 2 closets.  Our apartment has upgraded electrical, stackable washer dryers, Working Fireplace, FIVE closets, and has been completel;y renovated as of April 2013.  Either increase your "zestimate", eliminate it altogether, or expect legal action - your "zestimate" is hurting our apartment's salability and your valuation has NO BASIS IN COMPARATIVE MARKET ANALYSIS.  Ours is the ONLY 2 BR, 1BA elevator building apartment in the Upper East Side with W/D and FP for under $1.0 million at $849,000. 

  • November 12 2013 - Carnegie Hill
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Answers (2)

The Zestimates are a joke in my educated opinion.  They tend to pull info from town records or even other sites (scraping).  Many times this data is inaccurate and unless you manually post updates and improvements they don't take those into consideration.  The bottom line is, you can't properly value a property without seeing it in person. 

Christopher Pagli
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  • November 13 2013
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Profile picture for wetdawgs
You can learn more about the Zestimate in the FAQ "What is a Zestimate?",  Zillow is not likely to yet  have sales data from sales one week ago and perhaps not even the one that closed a month ago.  When the data come in, the Zestimate responds over a couple of months.   You (or your agent) are welcome to enter your estimate of value in the owner estimate section (share the recent sales numbers, if you wish.)

You can learn about removing the Zestimate in "Can I remove my Zestimate?

You can learn about your legal rights in terms of use. (sections 12 and 13 address your questions)

  • November 12 2013
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