Profile picture for altfineart

Why zillow marking my house CHEAPER than most in Subdivision!

I would seriously like to talk to someone at zillow. Why is my house valued at a cheaper rate then most of the houses in my Tampa neighborhood? It has more square footage with more amenities yet zillow says its worth less than the house next door, or across the street or any around the corner. PLUS so far all the homes have been selling for more than zillow says mines worth..so whats up with zillow? I mean why would anyone pay my asking price if zillow says its worth 60K LESS????? Frustrated with zillow and would really like some help getting my house valued correctly.
  • March 11 2009 - North Tampa
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Answers (3)

This is from their own site. Their "Zestimates" are computer and Tax generated. A true CMA (Comprehensive Market Analysis) can only be done by a human (preferably a Realtor).

http://www.zillow.com/howto/DataCoverageZestimateAccuracy.htm
  • March 26 2009
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As Velilia has stated, it is computer generated.  It populates correct and incorrect data.  It is just a "gestimate" and is the reason why realtors exist!!  Also keep in mind that homeowners have the ability to go in and put information.  This is not done in an un biased fashion.
  • April 07 2009
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Profile picture for AlmaKee
Hello,
If your house is listed for sale and hasn't sold in 3 months, it may be overpriced.  I would go and pay for a full appraisal from a licensed appraiser, not a Realtor.  Then use the "expert" advice and price your home just slightly above the appraisal to allow you to negotiate a little.  No more than 3% higher than the appraisal amount... so if an appraiser gives you a $300k value, then list it at $310k.  Otherwise you may eventually sell after several price reductions and ultimately receive less than you would have if you'd priced your house correctly in the first place.  What you believe what your house is worth versus what a licensed expert believes your house is worth may be significantly different.  I wouldn't necessarily rely on a Realtor's opinion of value because some Realtors may overvalue a property to get the listing contract with the knowledge that the seller will have to reduce the price anyway to get a sale.

There are some licensed Appraisers who will do the appraisal for as little as $195.  I can recommend one, ask your realtor to call me if your home is listed for sale.

Hope this helps.

All my best,
Alma
Alma Rose Kee, P.A.
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  • August 09 2009
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