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Replies (4)
- Vince Curtis, "SoCal Appraiser"
- Contributions:4701
Zillows algorithim isnt faulty, it just isnt as perfect as you would wish.
Read this first before faulting Zillow.
Remember, this service is free. For a more accurate value, you can pay for an appraisal.
Read this first before faulting Zillow.
Remember, this service is free. For a more accurate value, you can pay for an appraisal.
- Philip Sencer, "Philip_Chicago"
- Contributions:551
Yes zillow often has values that are far off base for many many reasons. About 75% of the comments on this site are from sellers who complain about values. I just tell them that no one realy pays any attention to these values except a few people who are trying to sell. Buyers never refer to them when writing offers. They are ball park estimates and sometimes the ball park is very large.
- Tug of War
- Contributions:1981
That there are issues, legitimate complaints about the Zestimate is undeniable.
The Fuzzy Math of Home Values
It's Zillow's Product and how THEY Respond to the issues, complaints, questions by National Media & Asked in the Forum will say just as much to the Consumer about the value of Zillow the Company as it will the Zestimate
- Rachel Rosen, "RachelRosen"
- Contributions:1500
@rgulbrandsen
I'll send you a little more detail via email. We use past sales data, home facts, tax information and area market activity. The most important item regarding you and the neighbor you mentioned in your email is the last sale price. You asked why their home has a higher zestimate. House number 837 sold for $226K, and the home at 833 sold for $250. The zestimates are very similar compared to the sale price. The algorithm assumes if someone paid more for a home, then it must be of higher value.
Upgrades done to a home are not factored into the zestimate. Also, there is no way for us to know if a home is in worse condition than when it was purchased (bad pipes for example).
Your home definitely wasn't singled out. The neighbor's zestimate also decreased.
A couple things you can do: You and your neighbor do not have number of bedrooms, bathrooms or square footage listed. This information or lack of impacts the zestimate. You can change this information by clicking on the Edit option, and then edit home facts.
You can also post comments in the Owner's Comment section, which you already have done.
I hope that help
I'll send you a little more detail via email. We use past sales data, home facts, tax information and area market activity. The most important item regarding you and the neighbor you mentioned in your email is the last sale price. You asked why their home has a higher zestimate. House number 837 sold for $226K, and the home at 833 sold for $250. The zestimates are very similar compared to the sale price. The algorithm assumes if someone paid more for a home, then it must be of higher value.
Upgrades done to a home are not factored into the zestimate. Also, there is no way for us to know if a home is in worse condition than when it was purchased (bad pipes for example).
Your home definitely wasn't singled out. The neighbor's zestimate also decreased.
A couple things you can do: You and your neighbor do not have number of bedrooms, bathrooms or square footage listed. This information or lack of impacts the zestimate. You can change this information by clicking on the Edit option, and then edit home facts.
You can also post comments in the Owner's Comment section, which you already have done.
I hope that help
Zillows pricing algorithms faulty
had many upgrades. Zillow always priced our home higher. My daughter sold her home during the boom when prices were up. We are still in our home, but now her
former home is valued higher. That is ridiculous! The house on the other side was foreclosed on and sold at a very low price. The pipes froze and the house was water logged, but it is now valued higher than mine.
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