Profile picture for jims1950

estimates too low in many areas. this needs corrected so that home owners stop getting screwed

  • February 12 2012 - Wilmington Island
  • 0Yes

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Answers (5)

Profile picture for Jon Petersen

If they are too high, does that mean buyers get "screwed?"

  • June 26 2013
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Profile picture for Hugh Yamada
Hello Sir, 

Zillow estimates are only a guideline. They are not used for taxes or pricing strategies by a Real Estate Agent or Appraiser. In the past three months, prices here in California have jumped 20 to 40 %, estimates haven't kept pace. They have to use past sales, and don't look at current supply or demand.

If your raising your home value with the County Assessor, your only raising your property taxes. 
  • June 26 2013
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Profile picture for user86297764
Hi Jim,
I have found the same with my property and have entered the county appraisal value (Fair Market Value for tax purposes) using the "Owner Estimate" function on Zillow.  I cut and pasted a link to my 2013 Appraisal so potential buyers or agents can access it and see it has changed significantly. I also called the county appraisers office and asked them to send the new assessment/appraisal with this value to Zillow, Trulia and anywhere else they usually do.  I am hoping by providing this, the Zestimate will be able to take this value into account and adjust accordingly. 
  • June 25 2013
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Profile picture for the_country_hick
How do you feel about those areas the zestimates are to high in? That has been complained about also.
  • February 12 2012
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Profile picture for BrokerAppraiser
how are estimates causing anyone to be "screwed"?
  • February 12 2012
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