Why is Zillow's Zestimate not accurate?

Profile picture for john.p.stoeckel

Zillow's home price "Zestimate" is way off.  The home was appraised recently and its way off.  How can I either a) Have the Zestimate corrected?  or b)Have it removed completely from the site. 

This inaccurate data has the potential to damage my property value with zillow being in the public domain like this.

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October 27 2010 - Bogota
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Answers (3)

Profile picture for wetdawgs
Zestimates are estimates from a computer statistical model, and if lucky are within 20% plus or minus of a property true sales value.   

  You can claim the property and make sure facts are correct.  You can also do an owner's estimate of your claimed property to show the upgrades etc that add value picked up by an appraiser but not by an automated valuation model.

Zillow does not correct Zestimates on demand, nor do they remove them on request. 
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October 27 2010
Hi John, one way how you can try affect the Zestimate is if you claim your home and manually update certain facts about your home. Just type in the address of your property, and then when you locate it, click on Edit and then Claim Your Home.

Your concern is a common way regarding zEstimates, but rest assured that it does not negatively impact your home's value.

When a bank will do an appraisal on your home, if you decide to sell, then they will appraise the value of your home using comparable sales in your neighborhood.

Zillow is for informational purposes, and it's useful in that regard.

Good luck!
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October 27 2010
Profile picture for realtor_rita
well, the short answer is that Zillow is not a human! it does not filter for things like style, age of home, condition of property, what kind of neighborhood it is, etc. Zillow is most accurate in subdivisions os same size, style and age homes. Otherwise it can be very innaccurate. that's why you need a Realtor who specializes in your area.
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October 27 2010
 

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QuestionWhy is Zillow's Zestimate not accurate?
  • Latest answer by wetdawgs
  • October 27 2010
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