Profile picture for intlstart

Why zillow estimates are false?

Hi:
Zillow estimates my unit in Las Vegas all wrong. It seems that they don't no anything at the Signature residance@ MGM three towers. Zillow follow computer programing information only and they don't know that all units in three towers are not valued equally due to many reasons: higher floors vs. lower floors, facing mountains, parking lots, huge A/c units, or facing pool or with strip view. They don't know distance to casino from towers which is closer and which is far away, and they don't know which unit generate more income from the other units and also they don't know which has nice furnature from the ones they don't, and they don't even know which has an updated furnature from the old ones. Zillow depends only on computer generated dada which is 100% not accurate. Zillow does not do physical evaluation to every unit to determine it's real value. One day they might be sued for their false information by many people because they are misleading buyers and sellers. 135 E. Harmon Ave. unit 1811, Las Vegas, Nevada. [email removed by Zillow moderator for privacy]. Thanks
  • August 06 2012 - Staten Island
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (7)

Best Answer

Profile picture for sunnyview
"Zillow depends only on computer generated dada which is 100% not accurate. Zillow does not do physical evaluation to every unit to determine it's real value. "

That is true. You are right. There is lot that Zillow cannot see. If you want a closer valuation of your specific unit, you should hire an appraiser or call several local agents for a CMA. Zillow is a computer based AVM and not an appraisal.

PS Zillow does not consider furniture or fixtures. All Zillow can see are numbers so if you are selling a furnished unit all they could see would be a higher (or lower) sales price.
  • August 06 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for wetdawgs
You are right, Zillow does not include furniture in the calculations of Zestimates for residences.    Lenders won't consider furniture in the mortgage amount either,  therefore, if you wish to sell your furniture for $80,000, the buyer will have to either pay cash for that portion or get a personal loan. 
  • August 06 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for blue screen exile
"Furnature in this unit are to hotel standards evaluated at approx. $80,000.00" -

That is a Las Vegas "bluff" if I have ever heard one.  Of course the majority of people gambling on the "strip" are "supposed to lose money".  The strip wouldn't stay in business otherwise.

All hotel furniture is purchased in bulk and competitively bid.  There is no way anyone paid thousands of dollars for it.  And since it is "used" and not "antiques" and not "collectibles", the whole lot is probably worth less than $100, and probably the furnishings for the entire unit were originally purchased for about $50.
  • August 06 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for blue screen exile
I realized the link I gave only indicated the "recently sold" and the "for sale" and "for rent"... 

This link indicates 575 units in the building:
zillow.com/homes/allunits/36.106754,-115.166429_latlong

But one can only get to page 20 with 25 units per page, thus one can only see 500 of the 575 units this way.  3 pages of the references are not available.
  • August 06 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for blue screen exile
By the way, you have not indicated your unit is available for rent on the home details page, but you referenced furniture is included in the rental in the owner Estimate paragraph.

So you might also want to read the FAQ "what is a Rent Zestimate" for further information about that.

It may also be worthwhile checking all the sold prices... in the building indicated on Zillow, and the size of each of the units to do further extrapolation.  Zillow seems to indicate 274 home details pages for the complex.  See the link:
135 E Hammond Bldg
(for the 11th page, you will need to type the number in the URL address as it only gives links for the first 10 pages of 25 each).
  • August 06 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for blue screen exile
Of course furniture is not included in property estimates!

Of course estimates are not "false".  If they were "false" they wouldn't be "estimates".

If you would like to know what the estimates can and cannot do, it would be worthwhile reading the FAQ: "what is a Zestimate".

Of course Zillow has already been sued on such issues, and the cases were "dismissed".

If you would like to sue them, make sure you read paragraphs #11, #12, and #15 of the TERMS OF USE of the website that you agreed to when logging on to the website, and when creating a profile, and when posting on a home details page, and when posting on the forum.

Remember that if you are planning such a pointless frivolous lawsuit, that you have agreed to pay Zillow for all their legal expenses, including the time of their full time legal council, on staff.

By the way, Zillow has a very good "privacy policy", but when you publish your own address in a public forum, you have chosen to give up your personal privacy.
  • August 06 2012
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for intlstart
May be Zillow estimates without furnature? Designer furnature in this unit are to hotel statndards evaluated at approx. $80,000.00 so may be by adding Zillow estimate of $127,000.00 to the $80,000.00 will bring the value of my unit to $207,000.00 which is close to my estimate of $210,000.00. Anyone at Zillow can confirm this?
  • August 06 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.