Zillow Advice: Pricing - Zestimate - 12595 S Silver Creek St http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ Zillow Advice | Zillow Real Estate The problem with zillow is ... http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ The problem with zillow is that it is notorious for inaccurate zestimate valuations. The zestimate algorithm was developed by a team with ZERO real estate experience and is inherently flawed. Add to that zillows reputation for abysmal data management in how it imports millions of bits of information on homes from 3rd party suppliers and you have total garbage. As the saying goes Garbage In Garbage Out.<br/><br/>The unfortunate side affect of this BS is innocent homeowners who find their home is cursed with an incorrect zestimate like thoe original poster who have to live with this nonsense and its side affects day in day out. As if selling a home wasn't stressful enough anyways. Wed, 02 May 2012 00:11:00 GMT http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ 2012-05-02T00:11:00Z Attn Pasadenan,The VA Appraisal ... http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ Attn Pasadenan,<br/><br/>The VA Appraisal for my house is $237,000.&nbsp; I just got the appraisal two weeks ago.&nbsp; An appraiser actually came to my house.&nbsp; It was not appraised by some number crunching website. Wed, 22 Aug 2012 03:41:00 GMT http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ 2012-08-22T03:41:00Z Just for "comparison"; Trulia ... http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ Just for "comparison"; Trulia estimates the same property at $200k; no "range".&nbsp; That is 5.1% below Zillow's present estimate.<br/><br/>Core Logic is estimating $217k, which is 2.4% above Zillow's estimate, but Core Logic doesn't even have the right property on the look up, since it has the wrong transaction dates, the wrong square footage, and the property address number disappeared.<br/><br/>Chase is estimating it at $219k, which is 3.9% above Zillow's estimate.<br/><br/>Realestate.com is estimating it at $219.3k, which is 4% above Zillow's estimate.<br/><br/>Homes.com is estimating it at $210.7k, which is 0.05% below Zillow's estimate.<br/><br/>Homegain.com is estimating it between $192.8k and $226.4k (no median estimate); which is 0.4% above Zillow's at the low end, and 1.6% BELOW Zillow's at the high end.<br/><br/>A tax assessor is not an "appraiser", and neither is a "home owner".<br/>And it is the "willing buyer" that determines what it is worth, not a seller that dislikes the property so much that they are not even willing to stay in the same house more than 5 years.<br/><br/>If it was worth "more" to them, they wouldn't be selling, and wouldn't be moving.<br/> Wed, 02 May 2012 04:17:00 GMT http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ 2012-05-02T04:17:00Z No matter how you add it ... http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ No matter how you add it up, at only 1445 sqft, it is not worth the $237.5k asking price, nor even the $235k number the tax assessor came up with when they assessed the house at $18.7k for tax purposes to tax the property at $2.1k for 2012.<br/><br/>There are dozens of homes that were recently sold in the neighborhood, varying from $206k to $315k.&nbsp; And even the home that sold for $206k is 2496 sqft.<br/><br/>The only "argument" for asking for more is the replacement roof, and the remodeled kitchen.&nbsp; And since the put in "granite counter tops" I wouldn't even pay $150k for the property since I would have to gut the kitchen and start over before moving in.<br/><br/>But since you like it so much and think it is a bargain, just go ahead and offer them $290k for it.&nbsp; According to the <u><strong>Zestimate</strong></u> posted, that is a "reasonable" offer.<br/> Wed, 02 May 2012 03:31:00 GMT http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ 2012-05-02T03:31:00Z " With the house "flipping" ... http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ " With the house "flipping" every couple years, it looks like it was an equity scam to take from the banks."<br/><br/>OR maybe the Zestimate is actually incorrect and the home is worth what the property owner and appraisal state. With ZERO knowledge of the home itself, and the upgrades incorporated, who is informed enough to dispute the facts provided by the owner? Not anyone on this Forum for sure, and certainly not Zillow with its flawed zestimate algorithm. Wed, 02 May 2012 02:28:00 GMT http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ 2012-05-02T02:28:00Z Assessed or Appraised?&nbsp; ... http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ Assessed or Appraised?&nbsp; It appears that the tax assessed value dropped to $17.03k in 2010, from the assessed value of $19.38k in 2009.&nbsp; That is a 12.1% "drop" in one year.<br/><br/>Sold 10/8/98 for $163.9k<br/>Sold 8/16/00 for&nbsp; $202k<br/>Sold 10/17/05 for $236.2k<br/>Sold &nbsp; 7/3/07&nbsp; for $228k<br/><br/>Now listed at $237.5k?&nbsp; That is above the 2005 "bubble peak", and more than the bubble price paid in 2007.&nbsp; Trends indicate the bubble has still been "correcting" since 2007.<br/><br/>The "what we love" says the kitchen was remodeled, but it doesn't state what year.&nbsp; Perhaps 2006?&nbsp; Upgrades since purchase are NEVER factored into the machine estimates.&nbsp; With the house "flipping" every couple years, it looks like it was an equity scam to take from the banks.<br/><br/>If there was an "appraisal" why isn't that noted in the "owner comment" on the estimate?<br/><br/>The posted estimate "range" of $192k to $230k is only a 70% confidence interval, so there is about a 15% probability that the house is worth more than $230k.<br/><br/>"Update as soon as possible"????&nbsp; Looks like they did just that right after you posted!&nbsp; It was "updated" TODAY.&nbsp; The estimates are recalculated nominally 3 times a week.<br/><br/>Looks like you have about 19 homes for sale in the under $230k range that are competing with you...<br/><a href="http://www.zillow.com/homes/for_sale/Parker-CO-80134/#/homes/for_sale/Parker-CO-80134/93263_rid/4-_beds/2-_baths/170000-230000_price/626-847_mp/priced_sort/39.587964,-104.529419,39.399326,-105.001144_rect/10_zm/">Parker homes for sale</a><br/> Wed, 02 May 2012 01:02:00 GMT http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ 2012-05-02T01:02:00Z User618699If the buyers found ... http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ User618699<br/>If the buyers found no other better&nbsp;homes&nbsp;and better prices to buy then I'm &nbsp;most certainly they will come back to buy&nbsp;your home, good luck. Wed, 02 May 2012 00:35:00 GMT http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ 2012-05-02T00:35:00Z It's not fun if I'm losing ... http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ It's not fun if I'm losing potential buyers. Tue, 01 May 2012 22:56:00 GMT http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ 2012-05-01T22:56:00Z Zillow is for fun and not ... http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ Zillow is for fun and not generally not accepted as an accurate valuation. &nbsp;They do update the info and their&nbsp;algorithm&nbsp;often. Tue, 01 May 2012 18:44:00 GMT http://www.zillow.com/advice-thread/Zestimate-12595-S-Silver-Creek-St/441085/ 2012-05-01T18:44:00Z