Zillow Advice: Zillow Questions - your zestimate for my home was $370,000 yesterday and $395,000 today http://www.zillow.com/advice-thread/your-zestimate-for-my-home-was-370-000-yesterday-and-395-000-today/279572/ Zillow Advice | Zillow Real Estate From September 2009?Is this ... http://www.zillow.com/advice-thread/your-zestimate-for-my-home-was-370-000-yesterday-and-395-000-today/279572/ From September 2009?<br/><br/>Is this how quickly you respond to questions your potential clients ask you?&nbsp; Does this give some indication of how long it will take to close on a house if you are the Buyer's agent?&nbsp; Does this give some clue how long the listing will stay on the market before even getting one offer if you are the listing agent?<br/><br/>Or, does it just show that you learned to do the area filters, but didn't learn to do the sorts?<br/> Wed, 16 Feb 2011 19:16:00 GMT http://www.zillow.com/advice-thread/your-zestimate-for-my-home-was-370-000-yesterday-and-395-000-today/279572/ 2011-02-16T19:16:00Z I agree with Todd.RUN if ... http://www.zillow.com/advice-thread/your-zestimate-for-my-home-was-370-000-yesterday-and-395-000-today/279572/ I agree with Todd.<br/><br/>RUN if they are just using Zillow or a website similar to Zillow.&nbsp; E-estimates are just that.&nbsp; They pull from random sources and it isn't a true "Comparable".&nbsp; For a trusted number you can use a Agent Comparable and / or and Appraiser.<br/><br/>Good Luck<br/><br/>Kassandra<br/>Real Estate Brokers of Alaska Wed, 16 Feb 2011 18:51:00 GMT http://www.zillow.com/advice-thread/your-zestimate-for-my-home-was-370-000-yesterday-and-395-000-today/279572/ 2011-02-16T18:51:00Z If your loan company is depending ... http://www.zillow.com/advice-thread/your-zestimate-for-my-home-was-370-000-yesterday-and-395-000-today/279572/ If your <a href="http://www.zillow.com/mortgage/">loan</a> company is depending on Zillow and a zestimate- RUN!<br/><br/>Proprietary in the paragraph below&nbsp;translates to "we do what we want, how we want". Read below and you'll see why it's still important to hire appraisers and <a href="http://www.zillow.com/directory/real-estate-agents/">Realtors</a>. It is taken directly from this website under the zestimate accuracy link at the bottom of the webpage.<br/>I have heard that Zillow's formula takes past sales, tax data, and current active lsitings and formulates a price. It doesn't work. You can have 2 homes side by side that look the same outside, have the same square footage, etc, and when you go inside, you have one home that has more value than the other because of remodeling, etc.And if you throw a short sale or <a href="http://www.zillow.com/homes/for_sale/fore_lt/">foreclosure</a> into the equation, everything gets skewed. Our local MLS and appraisers have takenthis into account to try and keep values in check.<br/><br/><p>The Zestimate (pronounced ZEST-ti-met, rhymes with estimate) home valuation is Zillow's estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home's value. The Zestimate is pulled from data; your real estate agent or appraiser physically inspects the home and takes special features, location, and market conditions into account. Variations in price also occur because of negotiating factors, closing costs, and timing of closing. We encourage buyers, sellers, and homeowners to supplement Zillow's information by doing other research such as:</p><ul><li>Getting a Comparative Market Analysis (CMA) from a real estate agent</li><li>Getting an appraisal from a professional appraiser</li><li>Visiting the house (whenever possible)</li></ul> Thu, 17 Sep 2009 21:09:00 GMT http://www.zillow.com/advice-thread/your-zestimate-for-my-home-was-370-000-yesterday-and-395-000-today/279572/ 2009-09-17T21:09:00Z