Profile picture for user006713

why do you reduce the value of my home EVERY WEEK ????

 Every week you reduce my homes'value.  The values are going up in my area as there is very little inventory.  Stop this-- as I am trying to sell my house and you are reducing the value.  The Tampa Bay area has some of the smallest inventory in this country.  In addition my home is located in Pinellas county,  the largest population in the state of Florida.
  • November 25 2012 - US
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Answers (1)

Profile picture for Alex Acker
I just recently went to a realtor conference where the discussion of Zillow estimates or "Zestimates" was briefly covered. If you scroll down all the way to the bottom of the Zillow homepage, you'll find the option to select "About Zestimates". There you'll find where they describe to you the Margin of Error for Zillow estimates. They'll even tell you based on the city or region you are located, the margin of error for your neighborhood or town.

Zillow is a second hand resource in comparison to the MLS, properties are not updated or statuses kept current with the active MLS. This is a second hand resource updated by realtors. It's important that you express that to the buyers who come and approach your property. Also keep in mind, the system isn't designed to know the nuances of each neighborhood, items that add or detract value from a home. I had a townhome listing and the Zestimate was based on a penthouse condominium property which is not relevant to a buyer who wants the privacy of a townhome!

A zestimate is a reference tool like anything else, it's one of many variables that helps you make a decision. Be sure your listing agent has done a proper market analysis based on recent closed sales and available sales and you will be in great shape. If your home is priced well according to the market, your property will sell! Don't worry or concern yourself about the Zestimate represented on your home, just be sure you're agent is doing everything they can to market the property right for you. The right photos and a full description highlighting the property's best features will get you on the right track to selling your home. Good luck!
  • November 26 2012
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