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Why is Zillow so innacurate?

Why is Zillow so off? Just had my property appraised. Came in at 97K, Zillow claims $154k. That's really off.
  • December 05 2013 - Metro West
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Answers (1)

When you go to the doctor and you fill out forms giving your name, age, occupation, address height and weight do you expect the doctor to diagnose your ailment based on their experience with other patients who are similar to you?

Depending on Zillow to diagnose your value is the same as above occurring. They take values of other homes around you as well as public record information and GUESStimate / Zestimate your value. 

For each individual home, there are factors that affect the value, just as your prior medical history affects / effects the likelihood of proper diagnosis. Such as recent improvements and proper maintenance to your home would be the same as do you work out and diet?

Sure, the property values around you will affect your value just as the company you keep and your current job affect the type of activities you participate in. Such as just because you work at the county water waste department doesn't mean you carelessly slosh around in human waste for fun.

Just as every person is unique and needs to be interviewed by an experienced doctor to properly diagnose your condition, your home needs an experienced professional to evaluate the home from all view points as well as view the home to determine value.

Remember a broken clock is correct twice a day, but that doesn't mean I bet my life on it, therefore I can't trust Zillow to tell me how well my home compares to other homes around me unless I knew that Zillow had physically seen, interviewed or evaluated the other homes.

This is just my opinion, and I have seen Zillow be correct or honestly I have seen Zillow come realistically close to value on more than one occasion, but before I put any money where Zillow's mouth is, I would ask for the free advice of a local professional who is much more familiar with the ailments and conditions of my local market and bases their decisions on my home rather than the statistics of homes around me.

On another note, I have also seen an appraiser make mistakes on an appraisal, and it might not hurt having a local EXPERIENCED agent take a quick look at the appraisal for accuracy, just as you might seek a second opinion from a friend.
 
  • December 05 2013
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