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Zestimate too low

Hi there, I was wondering why my Zestimate is nearly $80K less than my neighbor's homes in the same condo building with the same amenities, approximate size and fixtures. I can understand a difference of $10K but $80K difference is a massive difference. 
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September 26 2012 - Sherman Oaks
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Answers (3)

Dear Jedinite,

I find Zillow's estimate of value of homes has too big of a variance (give and 5-10%).  I think Zillow's estimates are calculated by a software that has no capabilities to consider many factors that a realtor can, such as great floor plans, brightness of the homes, character of the homes, and many more.

If you want a good estimate (comps), find a professional realtor to provide that for you.  I would be happy to assist you if you send me an email with your address to jcrebiz@gmail.com.

Good luck!
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September 27 2012
Profile picture for jedinite
Thanks for the reply Ice, but still. Sq footage, location, amenities and approximate purchase time was much the same. My neighbor Zestimate actually went up in value where as mine remained the same. Is this because of an appraiser visiting his condo more recently since when I had my condo appraised?
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September 27 2012
Profile picture for Ice L.
jedinite -

For the homes to be the same for Zestimate calculation, both properties would have the same set of home facts, would also have the same price and tax history. To the be the same, every home would have had to been purchased on the same date and same price.

Please note that Zestimate is only an estimate and that every home's value estimate is calculated independently. If you want a more accurate estimate, you may hire an appraiser or at least get a couple "comparative market analysis" from some local realtors.

Thank you.

Ice
Zillow Customer Support
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September 27 2012
 
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