Profile picture for traveler807

Zillow's estimate is almost 100K higher than the VA appraisal. Is the appraiser "low-balling?"

I've heard that the appraisers in the Phoenix area were told to estimate prices on the low side---I had 2 appraisals--one 12/08 and 6/09.  220K vs 212K.  The 212K was AFTER we put 50K into new kitchen, roof and many other upgrades.  Something's wrong here--I doubt the house value decreased that much in 6 months, especially with the improvements!  Can I file a request for re-appraisal with the VA?
  • September 21 2009 - Chandler
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Answers (2)

Profile picture for real estate mike
the zestimate is useless in the real world, it's a guess. In some cases you can order another appraisal but why? Have your realtor prepare a cma and see what the comps say compared to the appraisals you've already had. best of luck
  • September 21 2009
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The value from Zillow is almost never similar to an appraised value. Unlike an automated valuation model like Zillow that takes all comparables into account or uses some type of set algorithm to determine value - an appraiser looks at each comparable closely to make sure that they are truly similar to your property before using them, and after that the appraiser will adjust the comparables value for any differences it may have to your property.

Check the comparables the appraiser used - are they similar to your house? Also upgrades to your house does affect the appaised value however you will almost always never recapture back the amount spent on the upgrades. If you think there is an issue with the appraisal not including the upgrades check the appraisal report - are the comparables similar to your property in terms of upgrades/condition? And if not was a positive value adjustment given for having these upgrades? If there are issues with the report that is something you can bring up - otherwise if there isn't then the appraisal should be the more accurate value when compared with Zillow.
  • September 21 2009
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