Profile picture for mongoosebv

Why are Zestimates so off and not even close to correct?

I have a home for sale at 3053 S Shore Drive Milwaukee WI 53207 and it is on Zillow twice.


The most confusing thing is that each of these have a different (and obviously wrong) (Z)estimates.
 
One has a $338,400 Zestimate with no historical tax data available.
One has a $259,800 Zestimate with an assessed value of $292,300 which is incorrect since the city reassessed my home this year after improvements to $396,500.00.

How can a site even provide a price on a home that they have never stepped inside of and do it with innaccurate, outdated data?

If anyone knows of a class action lawsuit filed by home sellers that I could join I should would like to know as this inaccurate information is helping depress the housing market


  • September 22 2011 - Bay View
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Answers (7)

Profile picture for sunnyview
I hope it will help some and I think it will. If you're still having trouble getting it corrected after a week or two, please repost and maybe I can find something else that might be useful. Fingers crossed for you.
  • September 22 2011
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Zillow is just information.  No one should ever buy or sell on Zestimate or tax bill for that matter. 

A buyer will say or use whatever they can to "justify" a low ball offer.

However in the end, a house will sell at the price that a buyer is willing to pay and a seller is willing to sell.
  • September 22 2011
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Profile picture for mongoosebv
Thanks & I will try to get the one removed and the other corrected....let us see how it goes ;-)
  • September 22 2011
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Profile picture for blue screen exile
The second home details page for the property came from a listing agent, likely through an autofeed from another website, and the machines had difficulty reconciling the address with the existing home details page for one reason or another.

You can correct the data on either page, except tax assessed value has to be corrected by the data provider companies and input by Zillow staff, which is done in "batches", not individually.

Zillow will NOT delete the page with the county records data.  They are happy to delete the redundant record without the data, but in this case, it appears you think the one without the county data has a closer estimate.

Yes, many think that editorial opinions regarding private property should not be legal.  But the courts don't see it that way.

Also remember, the wider the discrepancy between a list price and an estimate, the more people open the page to find out why, thus getting better marketing exposure, thus selling faster.

And there is a place on each home details page for an owner or agent comment regarding the estimate to explain the differences, so you do not need to do that individually for each offer.

  • September 22 2011
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Profile picture for sunnyview
Hello. I read your post. I am not Zillow, but I do have suggestions that might help you fix a couple issues you mentioned.

If I read your post right, you have two different listings for your house. You can claim the one that is most accurate and get the other one removed. If you can give Zillow a website link to your current assessment information, I think that Zillow can also update your new home page with that, but I am not sure. Claim the page you want, then flag the other one with the yellow "edit" pencil on the duplicate home page using the "report problem with listing".

Zillow's estimates are far from perfect, but doing both those things may actually help improve your home page, lower confusion for your potential buyers and including the correct assessment information may also improve the accuracy of your Zestimate. Hope it helps.
  • September 22 2011
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Profile picture for mongoosebv
Peole gather information from all places that they can. If a person sees. no matter how inaccurate it is, numbers that do not reflect the actual value of something they still keep that number in their head.

Perception is reality and while you make some interesting points the Zestimate can be perceived as a real price. Also, as I stated, these Zestimates are made off of old data and thus should not even be allowed to be used. If local experts truly do provide this information how can you explain, as I asked above, the same house being on twice and have such glaring differences in information?    
  • September 22 2011
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Profile picture for blue screen exile
A tolerance range is posted on every home details page.  In addition, there is information on tolerance ranges for each county in the U.S. on the link:
Zestimate® Values & Accuracy, in the footer of every web page on the site.

Zillow provides no "prices".  The only "prices" provided are by owners and agents.  Machine generated opinions of approximate value are NOT "prices".

As for the lawsuits, multiple parties ALREADY have tried and "LOST", but that doesn't stop you from wasting $50k on legal fees to try the same thing with the same results.

Zillow's numbers do not affect the market at all, which is still "bubble inflated", not "depressed".  As for websites like Zillow (of which there are hundreds), they only try to "track" the market and have no influence on it of any kind.  Even websites that try to influence the market, like Realtor.com, have been completely unsuccessful at doing so.

As for incorrect information on a home details page, each home details page has a place to report a problem or flag data for checking the county records again.  Since Zillow gets no data directly from the public records but only pays professional data collection companies that specialize in that for each area, there is a delay from the time a change is recorded in the records to the time Zillow receives the change.
  • September 22 2011
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