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Replies (7)
- wetdawgs
- Contributions:26854
You are absolutely right. Zillow doesn't know about your elevator, indoor-outdoor fireplace, sports court and a bunch of other upgrades and view. Even if they did, they aren't used in the Zestimate calculation except as reflected in tax assessment and/or last sales price.
- sunnyview
- Contributions:25139
If you claim your house, you can add a home description, photo and a Zestimate Comment to your home page so that people looking at it have more information directly from you the owner.
You can also add the appraisal with sensitive info blacked out to your home page as either an amount and date or as a photo on your home page. You may not be able to change Zillow's Zesitmate, but you can post information directly for people who look at your home page.
You can also add the appraisal with sensitive info blacked out to your home page as either an amount and date or as a photo on your home page. You may not be able to change Zillow's Zesitmate, but you can post information directly for people who look at your home page.
- John Hurlbut, "jhurlbut"
- Contributions:87
If you look at this page: http://www.zillow.com/howto/DataCoverageZestimateAccuracy.htm Even Zillow admits their Zestimates are off by quite a bit. Only 40% of the homes in the Seattle market sell within 5% of the Zestimate. Only 83% sell within 20% of the Zestimate. So your home is likely one of the 17% that falls outside the 20% range. Keep in mind, Zillow looks for the "normal home" and while your home may be "normal" in your area, there aren't a ton of sales over the $1M mark right now for them to get more accurate information. The suggestions by sunnyview above are a great idea. But honestly, if you're not trying to sell right now, why even worry about it? When it comes time to sell, the buyer's appraisal will be the number that matters after you've reached a mutually agreeable price with the buyer. The buyer will likely see the Zestimate, but I caution all of my buyers to not rely on AVM (Automated Valuation Models) but on a true appraisal or Market Analysis done by a competent appraiser or real estate agent. I suspect other agents do the same thing.
John Hurlbut, ABR, GRI, CFS
John L. Scott Real Estate
John Hurlbut, ABR, GRI, CFS
John L. Scott Real Estate
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
Zillow works well with bread and butter homes which yours is not.
- jay227
- Contributions:6
Zillow is bogus that's why. I have the same issue as you do.
- Nicholas Ribeiro, "NicholasRibeiro"
- Contributions:1807
In that price range there are a lot of features zillow does not take into its calculation
- Matthew Z CS
- Contributions:446
Great points on here. Just wanted to chime in. It looks like you all have covered the bases. We are only going off of the information we are given, so you probably won't find it to be as accurate as an appraisal. As a few others on this thread have pointed out, we aren't factoring in many of your customized upgrades.
You have the ability to claim your home on Zillow and update your home facts. Updating your home facts may impact the Zestimate over time. The more info we have on the home the closer we can guess the value. You may follow this link to learn about editing your home facts.
http://www.zillow.com/wikipages/Home-Facts-Information/
You have the ability to claim your home on Zillow and update your home facts. Updating your home facts may impact the Zestimate over time. The more info we have on the home the closer we can guess the value. You may follow this link to learn about editing your home facts.
http://www.zillow.com/wikipages/Home-Facts-Information/
Zestimate of my house is off by more than half million dollars!
We bought ours for $1.32million two years ago and just had it appraised (before the sale of the aforementioned house) at $1.3million. I, of course, think it would sell for about $1.45m to $1.5m. Zillow doesn't know that we have an elevator, indoor-outdoor fireplace, sports court and a bunch of other upgrades. And there is no one and no place to helpfully point this out to Zillow. ....... a half million off the mark!!!!!
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