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Why is my home valued at $105,000 on Zillow and Austin/Travis County has billed me for $125,000?

These home values can affect a loan for my remodeling plans since they are different. Please shed some light on this subject.I will check with Austin/Travis County Tax Assessor office to see why. It states travis county appraised value.
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November 01 2009 - MLK 183
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Answers (5)

Go to the FAQ link in the menu to the left. Click.

Go to the Most Popular Zillow Questions. Click

View any of the videos there to help you better understand how to use or adjust the values.

Go to Remodeling Magazines Cost vs Value Report for an understanding of how costs and values differ. 

You will find long explanations as to why lenders DO NOT use Zillow to value your home.  The obvious reason being that the videos will show you how to adjust the estimate.

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November 02 2009

Mike7954,

Zillow is not an appraisal site and no lender look at their numbers to give out loans.  If that was true, appraisers would be out of business.

You need to understand that Zillow get their information from public records and they have an algorithm that I don't understand to come come up with the "Zestimates".

Since they get their data from public records and since Texas is a non-disclosure state, their numbers don't work for Texas.  It's a cool site to ask questions, get some stats etc. but please don't take into consideration the zestimates for Texas.  It works well for some other states where the sales prices are made public but not for us in Texas.

If you are getting a loan for whatever reason, your lender may order a professional appraisal or if the loan is small enough, he may just ask for comparables from a local Realtor.

Naima

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November 02 2009
You can always ask a local Realtor to give you comps that support that amount. Zillow is a tool but is only as accurate as the information it receives. I doubt a lender would use it as its source for appraised value, so don't worry about that.
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November 02 2009
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No, I want my home value to be the same as travis county which is more than Zillow appraisal. I may need to get a higher loan at a higher value rate not less. I guess I will try to use travis county appaisal list from the bill received which is $20,000 more.   Thanks
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November 02 2009
Travis County Appraiser is the right source to go to here. If you want to make a case for a lower value, you can try bringing in the Zillow info (and the comps) and fill out some forms to see if they'll revise it.
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November 01 2009
 
Related Questions
Why is my home valued at $105,000 on Zillow and Austin/Travis County has billed me for $125,000?
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November 02 2009 | 5 answers
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