Who does the "appraisal" for your web site?

Profile picture for scbabcock
 I am currently selling my house and your web site is not help, I need to know how you come up with your "zestimate" without even seeing the house? How does a house that sits on a lot 5 times the size of any other house in the neighborhood come up so much lower.        
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June 25 2011 - Westland
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Answers (3)

Profile picture for scbabcock
Hmmmm, the house is listed with a local "Realtor", where do you think the price came from???????
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June 26 2011
Profile picture for Sharon Lewis
I would suggest that you contact a licensed appraiser to give you an idea of what you should sell your home for. You can also contact a local realtor, if you don't know anyone,I can refer you to one, or you can ask friends and family for referrals. The local realtor will do a comparative Market analysis for you and based on that you will choose your price. 
Good luck on your sale....
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June 26 2011
Profile picture for wetdawgs
Zillow does not offer appraisals, but instead Zestimates.   Zestimates are numbers calculated by a statistical algorithm using public facts.  They don't take into account upgrades, or moldy walls, views and many other features that may add value. That is why Zillow emphasizes so strongly that they are a starting point for comparison of properties, not an appraisal.

The other critical part to understand about the Zestimate is that although it can be presented by a single number, it is backed by a range (available on the property details page).  The Zestimates value and accuracy section is critical reading.
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June 25 2011
 

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