- Find a Real Estate Professional
- Alabama Realtors®
- Alabama Mortgage Lenders
- Alabama Home Improvement Pros
- Alabama Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- More
Answers (7)
- Jackie Zurbrugg, "JackieZurbrugg"
- Contributions:17
you could get three different appraisal amounts from three different appraisers.
- sunnyview
- Contributions:25139
OtterRock, There is something about your property that may explain why the Zestimate is not where you feel the value is for your property.
I noticed your Make Me Move listing here is a commercial property. Zillow concentrates on residential estimates since the value for commercial property is very different. You might try a site like loopnet.com which specializes in commercial property.
I noticed your Make Me Move listing here is a commercial property. Zillow concentrates on residential estimates since the value for commercial property is very different. You might try a site like loopnet.com which specializes in commercial property.
- sunnyview
- Contributions:25139
"Zillow never adjust to all the renovations that takes place after the house is sold."
That is true since Zillow cannot see the house, but there is another issue with buyers not being willing to pay more for the cost of the remodels.
Some remodels have good returns, but a new state of the art kitchen in a 400K neighborhood is unlikely to return even half of what it costs when the owner goes to sell. Zillow does not set a market value on your house, buyers do. You will not truly know what the market is willing to pay until you go to sell.
That is true since Zillow cannot see the house, but there is another issue with buyers not being willing to pay more for the cost of the remodels.
Some remodels have good returns, but a new state of the art kitchen in a 400K neighborhood is unlikely to return even half of what it costs when the owner goes to sell. Zillow does not set a market value on your house, buyers do. You will not truly know what the market is willing to pay until you go to sell.
- mohammadhamadeh
- Contributions:2
When a house is sold Zillow adjust their estimates to the selling price, The price goes down if market rate.is going lower. Zillow never adjust to all the renovations that takes place after the house is sold.
- Vince Curtis, "SoCal Appraiser"
- Contributions:4702
I agree with you that zillow estimate is usually below appraisals since they donot adjust the estimate for renovations inside the house.
hmm....my experience is that Zillow is usually higher, not lower, at least in my area (So Cal) , probably due to still declining values... This applies to home of typical condition. If one does have a good amount of upgrades, yes, the Zestimate will be low - obviously, since homes with upgrades sell for more than 'typical' conditioned homes.
hmm....my experience is that Zillow is usually higher, not lower, at least in my area (So Cal) , probably due to still declining values... This applies to home of typical condition. If one does have a good amount of upgrades, yes, the Zestimate will be low - obviously, since homes with upgrades sell for more than 'typical' conditioned homes.
- mohammadhamadeh
- Contributions:2
I agree with you that zillow estimate is usually below appraisals since they donot adjust the estimate for renovations inside the house. In my case Zillow estimate is $63,000 less than my current home appraisal.
- Vince Curtis, "SoCal Appraiser"
- Contributions:4702
How much is your appraisal ? It doesnt make it 'false' per se. Maybe the appraisal is faulty....
your estimate is $50,000. LESS than my current home appraisal, making you estimate completely false.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.