Zillow Advice: Using Zillow - My zestimate is crazy high....

The estimates on this site ...

Tue, 12 Jan 2010 03:43:00 GMT

The estimates on this site are wildly inaccurate at times. You really do get what you pay for.

The best thing to do is to have an appraisal done if you need a true number.

If you can find an Agent that knows your area and conducts business in the same neighborhood that may help too; just make sure they have recent sales close to you. (Very important)

You can edit your home's ...

Tue, 12 Jan 2010 02:36:00 GMT

You can edit your home's details if you'd like to try to fix it. I'm not sure what good that would do for you, however.

Better than that, have a real estate agent do a CMA for you. We can run real comps and look at the actual home to get you a much better value.

Zillow's estimates are notoriously inaccurate on luxury homes like yours, as well as waterfront homes, view properties, etc.

Wow! Lucky you! ...

Mon, 11 Jan 2010 20:59:00 GMT

Wow! Lucky you! Sell it today!!

But, sometimes their model gets some funny numbers so I would flag it and comment "Please investigate. Value of house is about $400k (? put in realistic value) but Zestimate $11,000 k."

Understand that it is an ...

Mon, 11 Jan 2010 20:55:00 GMT

Understand that it is an estimate that is estimated due to "on paper" qualities such as rooms, "similar" houses in the area 'selling' price, etc. It CAN NOT take into account the condition of the house in ANY respect. My house is listed with a zestimate range (high side) about $10K lower then my appraisal 3months ago. I have since done additions include an extra bedroom above the garage (accessed from inside of house and not from garage) and added a very nice wet bar. The appraisal from 2 week ago estimates about $22,000 more than my zestimate even after I added them here.
Only use it as a guideline, NOT a sales price range!!!