Profile picture for oldfarm164

the zestimate is off by 20K based on other homes sold on our street

This is killing a current sale... how is zillow.com responsible for getting involved without supplying current sales in my immediate area.  If this sale is killed based on an unsupported value... I willl hold zillow responsible.. they say they calculate each home seporate... but I doubt it...
  • November 22 2010 - North Andover
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Answers (5)

Profile picture for Praful Thakkar
Hello OldFarm164,

I understand how you feel about this. It's not unusual for Zillow to be off by some amount.

Zestimate is still an estimate of the house value. They have a disclaimer in the footer which clearly mentions that your 'zestimate' could be off - and this difference depends on the state and county the home is located.

Should you need detailed price or current market snapshot, you can call me or email me.

Best Regards.

- Praful Thakkar
  • November 22 2010
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Zillow is dead wrong 80% of the time, when a "Professional" uses "Zestimates" then they are lazy. Current market trends in you area will determime the value. Zillow has no idea.

I live in a "planned community" Zillow has my home (which is identical to the home next door) at 20K higher! They are EXACTLY alike.

Zillow is Not accurate....
  • November 22 2010
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That's unfortunate. I've certainly seen this before...your listing agent and the buyer's agent really need to work together and do their best to show the buyers that Zillow isn't Gospel and is really better for showing trends in many areas (at least, that's what I've tried to explain to clients in the past).

A local professional is always better than an automated valuation system.
  • November 22 2010
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Profile picture for oldfarm164
They are just using it as the gospel to try to kill the pending sale.. Prior sales in this neighborhood are in the range of 540K.  They are using zillow.com as the end all.  Zillow does not have accurate comps. I have paid appraisals from appraisers that put the home at around 535K...  not sure what zillow.com base their figures on....  they are off base.
  • November 22 2010
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Just out of curiosity - how is it killing the sale? What are the buyers saying?

Zillow estimated values should never be a substitute for an actual appraisal of value.
  • November 22 2010
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