Profile picture for POULOS

Zillow Estimate Price

Hi,
Can you tell me why my Zillow Estimate is lower then other homes on my
street when my house has more bedrooms, baths, garages, square feet and
is newer?    I appears you have all the data on your site yet have me 70 to 80
thousands dollars lower.

Can you please help me get the figure corrected?

 My Address is 2 Coventry Lane, Beacon Falls Ct 06403.
Thanks.
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August 28 2011 - Beacon Falls
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Answers (11)

Profile picture for Pasadenan
Realtor.com does have such a "tool"... it requests your name, E-mail address, and whether you want to buy or sell, then E-mails a local Realtor® to provide a CMA.  And then you are "stuck" with a lead generation where the agent feels entitled to bug you about your buying or selling, even though you were only checking a property that is not on the market and won't be on the market and wasn't yours anyways.

I know what the biases of many machine methods are.  Still, I recommend getting at least 10 independent machine generated numbers, throwing out the top and bottom, and averaging the rest.  It is harder to determine specific bias for individual estimates.  But the best solution is still get 5 estimates, throw out the top and bottom and average the rest.

And you know that if two have the same answer, there was either collusion (using the same software), or substantial round off error.
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August 30 2011
Profile picture for Dunes....
LOL..

Opinion is not Fact

If the exact same Zestimate was something NAR came up with as a "Tool" and placed on Realtor.com then Pasa would be going on and on about what a piece of Crap it was...it's part of the Conspiracy to Mis-Lead

That's what I think
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August 30 2011
Almost all CMA's by the listing agent are almost always high, and almost all CMA's by the selling agent are almost always low....this website has shown time and time again that many agent's numbers are worse that Zillow's machine given numbers.

To quote Piers Morgan "that is is a load of tosh".

Generally speaking, generalizations are generally a bad idea. And like Debbie, I too prefer not to be painted with the same brush that's been dipped in venomous vitriol.
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August 30 2011
"Yes, absolutely that is what I meant....   Almost all CMA's by the listing agent are almost always high, and almost all CMA's by the selling agent are almost always low."

That's a totally absurd response!

So, let me understand this Pasa.......you have seen ALL, or ALMOST all cma's done by agents all over the country in order to make that sweeping generalization?

Or, perhaps it's your obvious  bias against, and dislike of agents (and let's not leave off the NAR)  that is speaking.........as it does over and over and over.....why don't you make a chart or something - it's what you're good at......

and on that note, I am done here, and done  interacting with you...........

 
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August 30 2011
Profile picture for Pasadenan
Yes, absolutely that is what I meant....   Almost all CMA's by the listing agent are almost always high, and almost all CMA's by the selling agent are almost always low.

They are biased and they are not licensed to give appraisals, and this website has shown time and time again that many agent's numbers are worse that Zillow's machine given numbers.

Here is just one sample from 2007:
Zillow says this home has dropped by over 200,000 in the last month, wow I want it.
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August 30 2011
CMA's by Realtors® are highly inaccurate and intentionally misleading.

Intentionally misleading?? really?
Pasa, it gets so tedious reading your same digs over and over.........give it a rest already.

And...you were just  rude to the OP - why answer a question if you're going to insult the person !
That's uncalled for and obnoxious.
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August 29 2011
Profile picture for Pasadenan

[edited by Zillow moderator.  Please refer to Good Neighbor Policy for posting guidelines]

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August 29 2011
Profile picture for POULOS
I agree that Zestimate is highly inaccurate because when compared to other homes on my straight it has no logically sense.

Since it exist and buyers are looking at it, it should at less be more accruate.
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August 29 2011
Profile picture for Pasadenan
Besides, the other neighboring Zestimates in the area are indicating:
$295k
$271k
$315k
$191k
$321k
$338k
$302k
$270k
$315k
$74k
$287k
$174k
$210k
$240k
$231k
$240k
$242k
$362k
$309k

So, a given estimate range $250k to $349k is not out of line.

The one with the higher estimated value also has a higher tax assessed value, so there are apparently some differences besides just square footage and #bedrooms and #bathrooms.


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August 28 2011
Profile picture for Pasadenan
CMA's by Realtors® are highly inaccurate and intentionally misleading.

Realtors® are not licensed to provide appraisals!

Boycott the National Association of Realtors®.

Join the American Association of Realty Agents instead.

If you want a "different" figure (as NONE of them are the actual "market value"), try:

Homesand.net

Eppraisal

realquest.com express

cyberhomes.com

trulia

chase

homegain

Or any of about 100 other AVM websites.

As for "good" and "bad" houses; that is why the modeling also includes the last sold price adjusted for the last sold date, and the tax assessed value.  If you bought at a fire sale, the estimates will usually reflect that.
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August 28 2011
Zillow's Zestimates are the result of a software programs that crunches numbers based on what's going on in your market sales-wise but is not able to distinguish between good houses and bad houses. Only a real live human can do that. As valuable of a tool Zillow is to buyers and sellers of Real Estate, the Zestimate is the one feature that should be done away with as it is highly inaccurate and does a huge disservice to the general public.
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August 28 2011
 
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Latest answer by Pasadenan
August 30 2011 | 11 answers
  • Asked by POULOS
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  • August 28 2011
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