Why would my house show value of 454,000 on zillow and yet was professionally appraised for 750,000

Profile picture for sschartner
I think Zillow needs to update their values.
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November 09 2009 - Head of the Harbor
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Answers (2)

Profile picture for synthianoble
The appraisal was done by a professional that took time and effort to appraise your specific home.  Zillow is a VERY rough estimate that is based on public records with little opportunity to individualize the results.  I would NOT rely on zillow or any other publid forum for values on a house.  Sellers can easily get a comparative market analysis done on their home when they are interviewing agents to list their property. 
Buyer's agents routinely review the value of houses their buyer's are considering to develop offers that are in line with the true value of the property. 
short answer - you get what you pay for. 
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November 09 2009
Profile picture for Cobalt Financial
Zillow's values are not the same as an actual appraisal, Zillow receives their information from public records... The infomation from the city/county assessors office is the what Zillow uses (city's assesment) Hope this helps!
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November 09 2009
 

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