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Answers (9)
- Dunes....
- Contributions:3894
You may wish to add your view to here where others are also sharing
- DavidKoshiol
- Contributions:2
The word is out . Zillow now is greatly unreliable . Their usefullness is on a downward trend. I have 13 properties .4 are not even listed and all the rest are way off based on comparables. Anyone can pick a " starting point" for determining values better than Zillow is doing now. Furthermore we dont need starting points ,we need real values. Totally useless! they need a big reality check. Untill then I will just shake my head and chuckle at their algorithems. Zillow will die a slow death.
- RonTheStockGuy
- Contributions:1
The new algorithim seems a lot further off than the old one. I've got two properties in Utah that are now about $200,000 off from recent transaction prices. before they were off by only $5000-$10,000. Plus, I agree, the revisionist history is worthless. All in all, the value of Zillow has diminished significantly in my eyes.
- Cocojoe
- Contributions:34
Russ, prime example from the company you are proud to be with. Property in Hartford I found, 2 family home. as your new and improved algorithms states the house is estimated at $158K, according to your revised zestimate from 2009 it was valued at $2.1 million in 2009 down to $500K a few months later and back up to $1.5 million later in 2009. How's that new and improved algorithm working for zillow? Prime example why zillow can't be taken seriously as a company. Good luck with your career.
- Cocojoe
- Contributions:34
So Russ, your method of measuring them for the past 10 years was inaccurate? Is that what you are trying to tell us? It must be because the values for the entire 10 year period changed drastically. I guess they can't call it historical anymore. From what I was taught as a youngster history is history, it doesn't change but somehow miraculously you at zillow were able to do it overnight. A home's estimated value at $375,000 6 years ago by zillow is now estimated at $235,000 6 years ago by zillow. Something is wrong with that picture. Say what you want but your respectful response holds no water...but thank you anyways. Algorithms are nothing more than a computation of certain data fed into a program that software devlopers create... that result in an answer. Case closed. Simple as that. Put in garbage . get garbage out. It may be impossible to get an true accurate reading since its impossible to study every home's situation first hand but please save us all the new and improved algorithm stuff. The next time I see zillow in the news giving their opinions on the market and its fluctuations from the past and in the future...I will send it to you and you tell me that zillow doesn't affect the market. I'm still waiting for that mass email for us homeowners trying to makes heads or tails out of your zestimates.
- Russ Hatfield, "RussHatfield"
- Contributions:336
Cocojoe,
Respectfully, this isn't about the housing market values going down 20%, etc., overnight. This is about our Zestimates, as starting points for discussions around these valuations, being revised based on this new algorithm. The "housing market values" didn't change. Our method for measuring them did. They'll be what they are, regardless, we're just trying to improve our ability to provide insight into what's going on. And we stand behind our methods, again, in the context of their intent and purpose.
Thanks again!
Russ
Respectfully, this isn't about the housing market values going down 20%, etc., overnight. This is about our Zestimates, as starting points for discussions around these valuations, being revised based on this new algorithm. The "housing market values" didn't change. Our method for measuring them did. They'll be what they are, regardless, we're just trying to improve our ability to provide insight into what's going on. And we stand behind our methods, again, in the context of their intent and purpose.
Thanks again!
Russ
- Cocojoe
- Contributions:34
Really Russ? You changes your math equation on how values of homes are determined and just like that overnight, the housing market values in soome areas go down by 20 or even 30%? That's your response? You really expect us to think that zillow is credible now?
- Russ Hatfield, "RussHatfield"
- Contributions:336
Hi 4Dawn,
As Vince linked to, we recently(June 13th) improved our Zestimation algorithm. You can read about the changes here: http://www.zillow.com/advice-thread/Zillow-Announces-Zestimate-Improvements/403036/
As Vince linked to, we recently(June 13th) improved our Zestimation algorithm. You can read about the changes here: http://www.zillow.com/advice-thread/Zillow-Announces-Zestimate-Improvements/403036/
Thanks for using Zillow!
Russ
Zillow Customer Support
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
Read this...
Why was my zestimate lowered over 30K in one day?
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