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Replies (4)
- Alonzo Webb, "30 days sold"
- Contributions:76
Heres a true story. I went with a client to Connecticut to look at a house. I am selling her house in Rockland County which is appx 1 hr from her place of employment. I found her a property in Stamford at a great price. Mapquest said the property in Ct was 1hr 5 mins and from her job. We both knew this was incorrect. The trip should have taken no more than 35 mins.
Unless you can prove that most buyers rely on Zillow as their bible to decide on housing values then you as a seller was not intentionally harmed. In the absence of that most appraisers do not use Zillow to come up with their comps. Also Zillow discloses that you should not use the information on this site to determine value If you are having difficulty selling your palace...............................its not zillow
- Sam DeBord, "SeattleHome.com"
- Contributions:3472
My ears hurt from all of the capital letters.
Many of the estimates here are inaccurate. It's just a computer model trying to value homes (which can't be done without seeing the home). It's just one web site's attempt at a value model, nothing to get litigious about.
Many of the estimates here are inaccurate. It's just a computer model trying to value homes (which can't be done without seeing the home). It's just one web site's attempt at a value model, nothing to get litigious about.
- wetdawgs
- Contributions:26854
I doubt an attorney will be interested in the issue because attorneys have already tried and found their cases tossed out of court. Zillow must have good attorneys of their own as they have so many disclaimers on the site.
- Steve Hansen, "Smart One"
- Contributions:43
The values on Zillow are fun to look at, but can be significantly over or under the true value. I believe Zillow has a computer model that does a simple radius search around the subject property for comps. It then will adjust for items like gross living space, lot size and room count. The computer doesn't know about the fact that comps within the radius my be inferior or superior due to many factors such as a different school districts, high crime, lower-income housing, etc, etc. Often, the inferior and superior comps will cancel each other out and the value (or zestimate) is in the ball-park. Unfortunately, as in your case, sometimes the value is grossly off. Most of my buyer clients know this. I wouldn't be too worried about this hurting your value and/or sale.
zestimate is OFF BY HUNDRES OF THOUSANDS OF DOLLARS
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