Zillow Advice: Pricing - Hey Zillow! I love, love, love your website. I'm always on it. But I have a concern... http://www.zillow.com/advice-thread/Hey-Zillow-I-love-love-love-your-website-I%27m-always-on-it-But-I-have-a-concern/436076/ Zillow Advice | Zillow Real Estate They state they do new estimates ... http://www.zillow.com/advice-thread/Hey-Zillow-I-love-love-love-your-website-I%27m-always-on-it-But-I-have-a-concern/436076/ They state they do new estimates nominally 3 times a week.&nbsp; There were only 2 estimates last week, Monday, and Friday.&nbsp; An estimate was run Monday this week.<br/><br/>The 3rd party data provider companies send them county records data regularly, including recent sales.<br/><br/>The last sold price adjusted for sold date is heavily weighted in the estimate modeling.&nbsp; Thus it doesn't matter if walls are shared or if they are the same size or one is larger.&nbsp; (The size and bed/bath count are also heavily weighted, but not nearly as much as the last sold price adjusted for sold date).&nbsp; Tax assessed value is also used, adjusted for local rules.&nbsp; (In California, that means they work Proposition 13 backward so that real inflation factors can be used instead of the maximum of 2% annual tax assessment increase).<br/><br/>They model to all non-distressed ownership sales in the "vicinity", not just the nearby or "comparables".&nbsp; "Vicinity" is approximately 1 mile radius in the same county, but more distance for rural and less distance for high density urban.<br/><br/>To see if they used your neighbor recent sale, look to see if it shows up in a "recently sold" search using the homes tab above.&nbsp; If it does not, they have not received the county records data for the sold transaction yet.&nbsp; It takes about 2 or 3 weeks from the time of a sale for them to receive the sold data.<br/> Wed, 21 Mar 2012 16:32:00 GMT http://www.zillow.com/advice-thread/Hey-Zillow-I-love-love-love-your-website-I%27m-always-on-it-But-I-have-a-concern/436076/ 2012-03-21T16:32:00Z Hi Buddy, Zillow uses a complex ... http://www.zillow.com/advice-thread/Hey-Zillow-I-love-love-love-your-website-I%27m-always-on-it-But-I-have-a-concern/436076/ <p class="MsoNormal">Hi Buddy,</p> <p class="MsoNormal">Zillow uses a complex mathematical formula to determine the value with the data available through public records primarily managed by dataquick. If the information is not available through public records then zillow cannot use it to increase your homes value. There is a way to go into the data on zillow to add square footage or features like end unit features that will add value to your unit. Unfortunately the adjustments are not made automatically.</p> <p class="MsoNormal">Hope that helps you. If you need additional information don't hesitate to contact me.</p> <p class="MsoNormal">&nbsp;</p> <p class="MsoNormal">Regards,</p> <p class="MsoNormal">Grant Loel</p> Wed, 21 Mar 2012 16:30:00 GMT http://www.zillow.com/advice-thread/Hey-Zillow-I-love-love-love-your-website-I%27m-always-on-it-But-I-have-a-concern/436076/ 2012-03-21T16:30:00Z