Profile picture for user985929

Wondering why the value of my home is so incorrect on Zillow

Wondering why the value of my home is so far from accurate.  Tax roll has it at 309K (both Collin and Denton.  Also recent appraisal last year has it at $345 - same appraisal accepted by my bank on the refinance.  Surrounding homes sold and for sale are much higher price per sq foot and have not been completely remodeled nor do they have pools.  Keep in mind this is in an area that doesn't fluctuate in pricing like other states and cities.
  • March 11 2012 - Plano
  • 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

Basically the zestimates on zillow for non disclosure states are a total joke and it is outrageous they don't allow homeowners who have claimed their home to put the value in themselves. So it may be too high but whats the difference of that to a completely worthless valuation form zillow? The fact they refuse all requests from homeowners to correct or delete erroneous zestimates is even more outrageous and time sites like zillow were subject to regulation in this regard.
  • March 11 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 wetdawgs
"They continue to show homes that sold two years ago"  - shame on the agents who don't pull their advertising!  
  • March 11 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.

Zillow also pulls from many websites so the information on here is very far from accurate. 
If they want to be taken seriously they need to value the information they are putting out.  
They continue to show homes that sold two years ago and poor zestimates.  When you can't comp a home, you shouldn't even try.
  • March 11 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.

" I've no idea where they are getting their information but it is WAY off.  And, that's not just my opinion but backed up by the county and others."

Thanks for the best answer nomination, and your comment is a good question. It seems that Zillow has serious data integrity issues in how it imports the information it purchases from 3rd parties to feed its flawed zestimate algorithm. As the saying goes 'garbage in, garbage out'. Even zillow acknowledges its error rate has recently deteriorated from 7.8%  to 9.4% so obviously something is going badly wrong there.
  • March 11 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 user985929
I should have been more specific.  The value they have is over 30K lower than the local Tax assessment - which is public record by the way.  And a great deal lower than the actual value based on both a recent appraisal and comps of home sold within the 3 block radius.  I've no idea where they are getting their information but it is WAY off.  And, that's not just my opinion but backed up by the county and others.
  • March 11 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 chrisharden
Zillow does not have the ability to pull more exact comps nor rule out any short sale or foreclosures. Only an appraiser or Realtor can pull the actual comparables for your home to determine the correct value. Zillow pulls all the properties for your area without discrimination.
  • March 11 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
Texas is a non-disclosure state, hence Zillow only receives data on actual sales if a property owner wishes to give them the data.  As a consequence, it is extremely important to look at the Zestimate and the value range together, not separately.   

Even in areas with all data public, a pool and remodeling are not part of the calculations. Pools because the value added is extremely variable (sometimes they are a negative), and remodeling because there is no way to obtain the data consistently.
  • March 11 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.