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my home on a lake with more amenities is priced less than the other zestimates on a sq ft basis. Why

2204 bob white ln, west columbia, sc  2205 and 2213 bob white should be less per sq ft
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June 28 2012 - West Columbia
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Answers (4)

There are some key reason why a computer generated would be wrong.
1- The old saying Garbage in = Garbage out data from Tax records or agents.  It is most of the time incorrect. 
3- The sales data is again gathered from Tax info and agents.  This is sometimes not correct.  If a seller pays $5,000 in closing cost which is reflected in the price, the true sales price is off by $5,000.
4- There is some small print somewhere that states that zillow estimates are not accurate.

Talk to your professional to find out what prices should be.  I have been doing this for over 15 yrs and it amazes me still how many people believe that if Trulia or Zillow says a price that has more weight than what I know of can show in the local MLS. 

For example it shows my new homes z estimates 3,000-5,000 less than our retail prices.  We sell at our prices not Zillow. 
True meaning of sales price is what someone is willing to pay for something. 

I can provide CMA to anyone in the Columbia area. I currently dont list and sale homes but can give advice of market values.
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July 18 2012
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Its just amazing when buyers offer the ZESTIMATE as their Purchase price knowing the discrepancy then defend their offer as zestimate is in stone!!!!
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June 28 2012
Many factors go in to a Zestimate and sometimes they are not always accurate based on the information that they have access to. Sometimes it is based on how much you paid for your home, etc...An Appraisal would be your most accurate figure in your local area.
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June 28 2012
There is more than square-footage that effects the value of a property. Zillow has it's algorithm for determining it's zestimate.

I wouldn't worry about it. If you want to know the value, get a local real estate agent to give you a CMA. It's free. If you want to get more exact, you can hire an appraiser.
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June 28 2012
 
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