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Answers (5)
Best Answer
- Hamp Yonce, "Zilluminati"
- Contributions:3463
That's classic. Zillow takes an algorithmic shotgun approach to determining the Zestimate on properties. On your homes Zestimate page, there are buttons to click, which allow you to "report a problem", and to "flag" erroneous information. If I were you, I would click every button I could find, on your proerty, and your neighbors (if possible), and tell Zillow Customer Service, what you just said on this thread. They may actually correct the issue.
- Julia Marcyes, "JuliaSellsHomes"
- Contributions:269
Ifrequently get calls from homeowners asking me to tell them the price of their home without actually seeing it. Even though I've been a top agent in the industry for over 18 years, selling hundreds and hundreds of homes, and even with all the resources available to a licensed real estate agent, I can only give a ball park estimate of price without seeing their home inside and out. We should not expect Zillow to be any different.
Also, perception is 9/10ths of reality for buyers, and perception cannot be quantified in any mathmatical equation. Zillow is a wonderful resource, and should be utilized with the understanding that, as great as it generally is, it cannot replace first-hand knowledge and experience, and you should not expect it to do so. The solution is to update your information and ask your neighbor to update theirs as well.
To set your mind at ease, you can be assured that it is rare for a buyer to purchase a home, site unseen using only Zillow information.
Also, perception is 9/10ths of reality for buyers, and perception cannot be quantified in any mathmatical equation. Zillow is a wonderful resource, and should be utilized with the understanding that, as great as it generally is, it cannot replace first-hand knowledge and experience, and you should not expect it to do so. The solution is to update your information and ask your neighbor to update theirs as well.
To set your mind at ease, you can be assured that it is rare for a buyer to purchase a home, site unseen using only Zillow information.
- Tug of War
- Contributions:1979
Just because this amuses me so much ...
Spencer Rascoff Zillow CEO 14 hours ago...
""frankly if real estate data including Zestimates had been more readily available in the 2003-2006 bubble era (which was pre-Zillow), perhaps we wouldn't be paying the price today in our overall economy."
LINK
There was plenty of Data people just ignored it in favor of the Flashy stuff and $500,000 homes for 34 cents down if you had an income of $14
No worries you'll sell it next week for 2 Million Dollars
boatdiva
Still hoping you are able to speak to someone from Zillow, hopefully here so other Consumers/People can see the Response from Zillow to your Specific type of Problem
Spencer Rascoff Zillow CEO 14 hours ago...
""frankly if real estate data including Zestimates had been more readily available in the 2003-2006 bubble era (which was pre-Zillow), perhaps we wouldn't be paying the price today in our overall economy."
LINK
There was plenty of Data people just ignored it in favor of the Flashy stuff and $500,000 homes for 34 cents down if you had an income of $14
No worries you'll sell it next week for 2 Million Dollars
boatdiva
Still hoping you are able to speak to someone from Zillow, hopefully here so other Consumers/People can see the Response from Zillow to your Specific type of Problem
- Pasadenan
- Contributions:21466
The algorithm is specifically designed to ignore maintenance condition and upgrades/improvements, and is highly influenced by last sold price adjusted for last sold date to attempt to capture amenities and views; but differed maintenance properties are always estimated high, and recently renovated since purchased properties are always estimated low.
There is no known solution to such issues. If you come up with one that can be implemented from available public records data, I'm sure there are many at Zillow that would love to know. I also would like to know, as the economic modeling is of great interest to me.
There is no known solution to such issues. If you come up with one that can be implemented from available public records data, I'm sure there are many at Zillow that would love to know. I also would like to know, as the economic modeling is of great interest to me.
- Tug of War
- Contributions:1979
I sincerely hope you get to speak to someone from Zillow
Good Luck
Good Luck
Why is our home value lower than our neighbors? Something is wrong... PLEASE ADVISE.
Please advise! I would like to speak to someone at Zillow about this.
Thank you,
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