• Contributions:9

house on zillow is overvalued. how is that corrected? the address is 31301 heitz lane, temecula, ca

August 15 2012 - Temecula
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• Contributions:70
Everything is market driven.  Who knows in the market what that house will eventually sell for.  Have to put a number out there.

Over priced in your eyes, may be a bargain in someone else's eyes. Depends on how bad they want the house and if they will pay cash between the different of what a lender will go on it.

We do know lenders like to stay on the conservative side.
April 25 2013
• Contributions:36
That house is close to a friend of mine!  Zillow is not always perfect with their math.  I once got an overpriced rent "zestimate" and an owner insisted we rent the house at that amount.  It tooks week before her realized Zillow sometimes gets things wrong, haha.
February 04 2013
• Contributions:482
September 19 2012
the new data takeovers (erase) the older data -> the new data takeovers (erase) the older data field
August 15 2012
I really can't say for Zillow since I don't know how they calculate the home values.

http://homesand.net/QuickComps.aspx?31301+heitz+lane+temecula&citystatezip=ca.?Map=1
August 15 2012
As my knowledge, it will be a month to a few months if Zillow has the new data to calculate the newer values, the new data takeovers (erase) the older data which creates the previously error.

Like 1 / 0 (old data) = error.
1 / .01 (new data) = correct.

Again I'm not a Zillow's employee.
August 15 2012
• Contributions:9
Thanks! I wonder how long it takes to correct itself.
August 15 2012
I'm not a Zillow's employee, at some point the math is going wild (like the error calculation of a tangent of a cubic spline or divide a number by a zero number, etc...) on some properties, but it will be corrected itself in the future.
August 15 2012

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