Why do you value my home so much lower then my neighbors?

Profile picture for 266riverdale
Hello:  Your site rates my home so much lower then my neighbors. Some of these homes don't have pools, I do. The square footage is very close to mine but yet my home is valued by your service as being very low. Please advise.
Thank you,

Jim Delaney
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November 08 2011 - Lakeland
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Answers (5)

Profile picture for Sharon Lewis
You are in Florida so the pool is probably not a negative as it would be in other parts of the country.
Zillow merely hands out Zestimates, kind of like guesstimates.
You can go in and claim your home,under My Zillow and edit your home facts.That might help change the guesstimate. Jim, as a realtor, I want to tell you  that when I do a comparative market analysis, I only use figures from the MLS and my knowledge of the specific neighborhood. Real Estate is local, thats key.
I hope this helps. You can search  under Zillows FAQ for more information
Here's a zillow link for you regarding zestimates.

Zestimates and Zestimate Comments

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November 09 2011
Profile picture for Nathan Tutas
Hi Jim

The trouble you are having is due to the model Zillow uses to evaluate a property. In a basic sense, you have a computer looking at months old data from tax records which then gives an automated guess as to a home's value. Zillow has about a 30% error ratio (the last I checked that figure was last summer) in Central Florida. So the numbers consumers are getting in our area just aren't very accurate. The best thing to do is to get in touch with a local agent and ask them to perform an analysis of your home. Good luck.

Nathan
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November 09 2011
Profile picture for MarKusGroup
To elaborate, a pool is a negative to some, and a positive to others; it washes out.  I would however, contact a good Real Estate CONSULTANT to obtain a complete Market Analysis.  This will be much more detailed analysis.
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November 09 2011
Profile picture for 266riverdale
Poppycock. This is a bogus answer. It provides no crediblity. 

Please review my home and adjust accordingly. 

Thank you,

Jim Delaney 
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November 09 2011
Profile picture for Pasadenan
Some months one is higher; others it is reversed.

The neighbor's estimates are not used in doing an estimate; the machine does each separately from the modeled recently non-distressed sold in the area to the county records.

Pools are not used in the estimates.  There are several other factors besides square feet that are used, especially last sold price and date.
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November 08 2011
 

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