Zillow Zestimate

Our property at 8758 Cricket Tree Lane, 46260, has 2.5 baths and has been aappraised at 311,000. It is located on the lake, while other properties in our ccommunity are not.    While I understand that may or may not have much to do with wwhat someone will pay, the appraiser cannot be that far off on property value.
  • October 01 2011 - Indianapolis
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Answers (11)

Profile picture for wetdawgs
If there are missing or incorrect data in your property description, please claim your property on Zillow and edit the data. 

Zestimates can be useful as starting points for comparison of properties, but don't take into consideration features that may add value (such as waterfront) or detract value (such as code violations).
  • October 01 2011
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Profile picture for user26405651
If your property is located on the lake, that should have a lot to do with the value. Is it considered a second home or is it your primary residence? 
  • July 16 2012
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Profile picture for greenew39
a second home on island
  • January 07
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zestimates aren't appraisals.  Zestimates doesn't take into account so many factors, its really a guestimate based on tax values in the area and that criteria doesn't work when selling or buying a home.
Its really a thorn in us realtors side to try and explain to a buyer.
  
  • January 12
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re the property I own at 6240 Rattler Pass in San Antonio, Tex:
apparently Zillow has no notification method to take into account $150,000 plus worth of improvements made to the property over the past several years.
Additionally, Zillow is apparently still working their "valuation formula" off of a 3 year old, 2011 tax valuation which was obtained by protest in 2010 at the very bottom of the real estate market...
Zillow should be able to at least stay current on public data like taxes, as they are publically available through 2013, particularly since they use these values for their zestimate..doesn't even coordinate with other zestimates in the immediate area.
I hate to think how many people viewed my home on this site and were turned off by the difference in the zestimate and the listing price, ...my relator has no idea how to combat this misinformation
  • April 15
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Profile picture for rwpwilliams
I have not been able to log on and obtain an estimate of market value - 4120 San Juan Blvd, Anacortes, WA 98221
  • September 23
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Profile picture for linders001
My property value shows no value added to my property for three acres of land, no neighbors , three sides are adjacent to park land. It also does not take in the view from the highest parcel of land for miles.
  • October 02
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Profile picture for wetdawgs
@linders001:

Zillow assumes the sales history and tax history reflect the value added by the features you describe.     Zillow is not offering an appraisal, but an estimate derived from public data.
  • October 02
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Profile picture for longhome 1
"Zestimates"  are a joke !!   Every realtor I dealt with agrees with me.   It forced us to sell our home below it's true value ; because potential buyers kept referring to the low Zestimates.   We had to move since we had already purchased a new home ...... so,  we had to accept a lousy offer.    Zillow cannot keep using ONLY  what homes , in the area, have sold for.   There are  too many foreclosures in today's  housing market.    Our investments , in our homes,  deserve a better review than  "Zestimates. "    I recommend not to use  Zillow nor it's method to put a value on your current home or a home you are looking to buy !!! Zillow / Zestimates are a very frustrating and non-rewarding experience !!
  • 1 day ago
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Profile picture for sunnyview
"Zillow cannot keep using ONLY  what homes , in the area, have sold for.   There are  too many foreclosures in today's  housing market."

Appraisers use foreclosures too. That is not out of line. Many people think that foreclosures or distressed sales are excluded, but they aren't. That makes it hard to sell in areas where foreclosure rates are high or a recent foreclosure sold nearby.
  • 1 day ago
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Profile picture for Jainy S
Hi Fran Lazerov-
 
Kindly click the hotlink below your question (We think we've answered this question for you!) to learn more about Zestimate.
 
You can also visit our Zillow Help Center/Zillow Agent Help Center for other helpful information.

Thank you.

Jainy S
Zillow Customer Support
  • 1 day ago
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