Why is your information so oudated, incomplete and inaccurate?

Profile picture for ScottSheldon
I'm a little concerned that banks use you Zestimates as guides for financial decisions and you have inaccurate information and outdated photos. The house at 107 Oakridge Street Norwich, CT has been burnt out and vacant for several years now. It's on a lot that is .06 of an acre. My house is in good shape, on a .33 of an acre with a 2 car garage, shed, pool, built-in firepit and off-street parking for at least 6 additional vehicles.  Yet, you have it "zestimated" at almost $20,000 less than the vacant, burnt out house across the street. Also, I can tell by the vehicles in my and the neighboring driveways that the aerial photo of my property is several years old.
If you are going to continue to use such outdated and incomplete information it would be nice if you let lending institutions know of these circumstances.
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November 02 2011 - Norwich
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Answers (1)

Profile picture for SoCal Appraiser
http://www.zillow.com/wikipages/Most-Popular-Zillow-Questions/

Read through that to understand what a Zestimate is and isnt.

Banks dont take Zestimates into consideration - they dont need to - they have their own AVMs (a type of private Zillow) which they use.

Zestimate dont make values, values make Zestimates.
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November 06 2011
 

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