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why are your zestimates so horribly inaccurate

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October 20 2012 - Willowbrook
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zillow uses 3rd party data which can be incomplete, inaccurate and/or out of date, but most people understand this and no one ever uses the estimates when writing an offer. No one pays any attention to them except the owners who are trying to sell and do not like what they see. Don't worry about it.
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October 21 2012
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thanks, good answer
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October 21 2012
The Zestimates weight the county assessments too heavily.  There is no accounting for updates, neighborhoods, schools, property style, condition or true market data.  I have tracked the Zestimate values with what my listings are selling for and find that the zestimates are currently averaging 15% too low.  Better, because they were as bad as 19% earlier in the year.    If you want a better estimate of value contact a few experienced Realtors for a CMA
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October 21 2012
 
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