Pasadenan's Q&A

It is a "least squares curve fit", also known as "linear regression".To understand it better, look up the LINEST function in your Excel program, and especially look at example #3, "multiple linear regression".They don't tell you all the terms used, nor whether they are only first order, or perhaps 2nd and 3rd order as well.  But they use all the recently sold, do the linear regression with the public records info (Size, lot size, #beds, #baths, #stories, year built, tax assessed value, year last sold/date sold...);  with this info, they create the equation for the area and check each price with the price calculated.  If the price is way off, they throw that price out and calculate new coefficients.This is modified some for certain areas based on various idiosyncrasies.  For example, in California, using the tax assessed value directly would cause major discrepancies due to proposition 13.  Therefore, proposition 13 rules are applied backward to the tax assessed value first, before plugging in the numbers.Once they have the set of coefficients, they then plug the county data for each of the properties into the resulting equations to calculate the estimate.  The tolerance of the estimate given is based on the R^2 value for the original curve fit.Even this is modified slightly due to owner given data.  Though they don't just replace county data with owner supplied data, they do factor it in.  They don't want to let people know how it is weighted nor what ranges are thrown out, as they want to discourage people from trying to manipulate the estimates.The machine does this automatically 3 times a week for all properties with public records, assuming sales data for the area is public.  They don't tell you how far away is considered "in the vicinity", but you already know that the denser the area, the less distance they use, and the more rural the area, the more distance they use.The estimates are then used to calculate an "index" for neighborhood, zip code, city, county and state.  The "index" is just the "median", meaning half are higher, and half are lower.  It is just a matter of knowing the total number of units, and counting to half of them when sorted by lowest to highest.  They do exclude some under certain conditions.  Using the historic information, they can give trends.  The one year, 5 year, and 10 year index trends are much more useful than the estimates by themselves as fluctuations due to small sampling size tend to cancel out.I'm sorry, but your "upgrades", don't mean anything at all, especially when you didn't even properly report it to the county to have your taxes corrected."What gives?"  The machines did the math, and you didn't, and neither did any Zillow individuals.  Zillow doesn't "set" the market, it only tracks it.

Generally speaking, it should not be counted as "livable space" if it is not considered "livable space" according to the definitions given by the UBC. (Uniform Building Code).  But of Course, the UBC is not the only building code applied in the U.S.  There are 4 major building codes, and it depends on the area of the country.Generally speaking, it depends on how much below grade, and how much is above grade.  And of course no heat usually means it is "not livable".  Windows may also make a difference.  And it may make a difference if walls are open to the crawl space.  Ceiling height minimum according to UBC for livable space is 7'-6".I would suggest checking with your county tax assessor and see if they included it or not.  If they didn't, you probably shouldn't either.

It is not an "average"; it is a "least squares curve fit", also known as "linear regression".To understand it better, look up the LINEST function in your Excel program, and especially look at example #3, "multiple linear regression".They don't tell you all the terms used, nor whether they are only first order, or perhaps 2nd and 3rd order as well.  But they use all the recently sold, do the linear regression with the public records info (Size, lot size, #beds, #baths, #stories, year built, tax assessed value, year last sold/date sold...);  with this info, they create the equation for the area and check each price with the price calculated.  If the price is way off, they throw that price out and calculate new coefficients.This is modified some for certain areas based on various idiosyncrasies.  For example, in California, using the tax assessed value directly would cause major discrepancies due to proposition 13.  Therefore, proposition 13 rules are applied backward to the tax assessed value first, before plugging in the numbers.Once they have the set of coefficients, they then plug the county data for each of the properties into the resulting equations to calculate the estimate.  The tolerance of the estimate given is based on the R^2 value for the original curve fit.Even this is modified slightly due to owner given data.  Though they don't just replace county data with owner supplied data, they do factor it in.  They don't want to let people know how it is weighted nor what ranges are thrown out, as they want to discourage people from trying to manipulate the estimates.The machine does this automatically 3 times a week for all properties with public records, assuming sales data for the area is public.  They don't tell you how far away is considered "in the vicinity", but you already know that the denser the area, the less distance they use, and the more rural the area, the more distance they use.The estimates are then used to calculate an "index" for neighborhood, zip code, city, county and state.  The "index" is just the "median", meaning half are higher, and half are lower.  It is just a matter of knowing the total number of units, and counting to half of them when sorted by lowest to highest.  They do exclude some under certain conditions.  Using the historic information, they can give trends.  The one year, 5 year, and 10 year index trends are much more useful than the estimates by themselves as fluctuations due to small sampling size tend to cancel out.

If you've claimed the property as the agent, you should be able to get to the home details page and find the "edit" button.  Once that is pressed, you should be able to type in the changes and corrections.Then there is an "submit" button, and an "accept" button (or something like that, I don't remember the exact words).  It asks twice, so you have to do it both times, or your changes are not saved.

"How does anybody do this?"What a strange question!  There are single people that make well over 1 million dollars per year.  The better question is why you are making more than minimum wage?Besides, no one really "owns" property.  Even after the mortgage is paid off, any structure typically survives much longer than the occupant, and the land lasts even longer than that.  Besides, the zoning laws state what can and can't be done with the property, and the property will be part of a city or county or...  much longer than it is part of one family.  And the Birds have more rights on the property than the people.  The pretend owner is really only a tax payer to the county and a temporary tenant that pays to occupy the space.And the government always has a right to use eminent domain to take the property away at any time for almost any reason.Don't you remember that in the Bible it states that those that borrow are going to be slaves of the lenders?And doesn't the U.S. constitution state that people that live in this country are to remain slaves of the mega wealthy and are going to be executed for treason or assassinated if they speak against it?

Zillow has typically been automatically been updating the Z-Estimates 3 times a week.  If you have wrong county data, you can claim your house and post the revised data.  Some of the revised data is used by the Z-Estimate algorithm, but it is not clear how Zillow weights it, and they don't publish that as they try to discourage people from gaming the estimates.If updated info has been filed by the county, the 3rd party data providers will eventually collect it and provide it to Zillow.  But there is substantial delay in that process.Real Estate CMA's are for an entirely different purpose, and cannot possibly replace Zillow automatic estimates that use every recently sold property in the vicinity.  CMA's are also just "estimates", and they won't hold up in court nor in an IRS audit either.  If you need that, you need an appraisal by a licensed appraiser.  Z-estimates allow for trend tracking and for obtaining an index (median value) for the area, and for the index trends.  Realtors ® are completely unqualified to do that, and if they promise you marketing trend economic information, they are practicing outside of the field of their license and expertise, and are thus violating their "code of ethics".If you are in an area that doesn't allow public access to recent sales data, that is a different issue.  Zillow doesn't provide estimates for those areas at all.

Call 1-eight-hundred, eight-two-nine, 1040 --> IRS

If the two of you don't have a tax accountant...  get the information straight from the IRS:Call: 1-eight-hundred, eight-two-nine, 1040 ---> IRS(forget "Empire", they wouldn't help).And they are open a lot longer than just 8 to 9... round the clock, most days.And they can direct you to the correct forms, or mail them to you too.

But zillow.ca does redirect to zillow.com, so they are still reserving the domain name, which to me means that it is in their long term planning goals.

If the seller's price is too high, it is because they have not adjusted it for present market conditions yet, or they are hopeful to get what it would have sold for a couple years ago, or they are financially strapped and can't sell it for less that they indicate.  Either that, or they are hoping the temporary tax credit incentive will do more than it is designed to do in propping up the housing prices.If the seller's price is too low, it is because they are looking for multiple offers, a "bidding war", and attracting a lot of viewers in a very short time frame.Zillow bases their estimate on what prices things actually sell for, not based on listing prices.As for relative quality, that is what Zillow uses the property tax information for in their Least Squares Curve Fit (linear regression).  Look up the LINEST function in your Excel program and especially look at example #3, "multiple linear regression".