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Answers (5)
- wetdawgs
- Contributions:26854
Seems like there are two questions:
Accuracy: Focus on the accuracy of your own home, and spend time hand selecting comps - something that tends to be better than computer selection.
You can check to see if the neighbor's home had facts reported incorrectly by opening the property details page, scrolling down to "more facts". The public facts show what the assessor has, the "combined facts" shows where there have been manual edits. If you are friendly with your neighbor, ask them why their 900 square foot house has 99 bathrooms on Zillow (an example of one that I saw). Otherwise, don't worry about it. That isn't what is driving your Zestimate.
Why are the valuations inaccurate? The best place to address this question is to address what comps are being used. Perhaps the computer has done a poor job, or, more sobering, perhaps they are more accurate than you'd wish!
Zestimates are not appraisals, but a number generated by a statistical model. In my experience, they've been better than CMAs and appraisals but others have different experience and opinions.
Accuracy: Focus on the accuracy of your own home, and spend time hand selecting comps - something that tends to be better than computer selection.
You can check to see if the neighbor's home had facts reported incorrectly by opening the property details page, scrolling down to "more facts". The public facts show what the assessor has, the "combined facts" shows where there have been manual edits. If you are friendly with your neighbor, ask them why their 900 square foot house has 99 bathrooms on Zillow (an example of one that I saw). Otherwise, don't worry about it. That isn't what is driving your Zestimate.
Why are the valuations inaccurate? The best place to address this question is to address what comps are being used. Perhaps the computer has done a poor job, or, more sobering, perhaps they are more accurate than you'd wish!
Zestimates are not appraisals, but a number generated by a statistical model. In my experience, they've been better than CMAs and appraisals but others have different experience and opinions.
- Spirit Messingham, "TucsonSpirit"
- Contributions:663
Do you think it matters if your neighbors value on Zillow.com is up to date or accurate? Honestly, Zillow.com themselves state that their Zestimate can be off up to +/- 20% which is a large swing. To be 100% honest, it is a nice free site for the consumer, but it is not used to evaluate value by anyone I know of in the industry. Zillow does not take into account a lot of material facts, like for instance what is INSIDE your house. A person could have upgrade, spending $50K in desireable upgrades in a house & Zillow.com would never know it, try adding a pool and see how long, IF EVER they add it to your "value".
I am not mocking you (like I see a couple others have) as I understand what you are saying and your concern(s). You can update your house and value and that is about it, there are worst things to think about like the REO or Short Sale 3 houses down that will pull down your REAL value (I was using that as an example, without looking at your nrighborhood, but that is probably about accurate).
Please consider to use Zillow.com for what it is, a free site where you can get some Q&A completed in the R.E. World & a free BALLPARK of value for your property.
Best of luck.
Spirit
I am not mocking you (like I see a couple others have) as I understand what you are saying and your concern(s). You can update your house and value and that is about it, there are worst things to think about like the REO or Short Sale 3 houses down that will pull down your REAL value (I was using that as an example, without looking at your nrighborhood, but that is probably about accurate).
Please consider to use Zillow.com for what it is, a free site where you can get some Q&A completed in the R.E. World & a free BALLPARK of value for your property.
Best of luck.
Spirit
- Priscilla Hammond, "priscillasellsatl"
- Contributions:82
If the homeowners next door care, they'll get it corrected.
- Randy Hooker, "GoingForIt"
- Contributions:395
Actually, you're pretty much screwed. lol
- ConnieK_Oklahoma
- Contributions:2900
encourage your neighbor to update their information either by claiming the listing or getting it updated at the original source. If the info is wrong on the county records, you'll want to change it there first because that means it's wrong everywhere that it feeds, not just zillow.
what if the home next door has very inaccurate information?
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