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.
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October 01 2011 - Indianapolis
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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).
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October 01 2011
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? 
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July 16 2012
Profile picture for greenew39
a second home on island
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January 07
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.
  
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January 12
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
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April 15
 
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