Zillow Zestimates Make Up Your Mind

By
Real Estate Agent with Tierra Antigua Realty

IMG_0369_5_6_7_8mlsWhen I listed my clients beautiful home Zillow’s Zestimates priced it a $189,000. My clients priced at $196,000. just below the comps. When they dropped the price to $189,900, Zestimate dropped to $186,700. Now that they are dropping the price to $186,900, Zestimate comes back with a $180,350. Yet the exact same house down the street with no upgrades, not kept as nice is Zesitmated at $94,0000. In the word’s of our son, “What’s up with that?”

The market is tough enough without bad information going out to buyers. I keep track of all the sales that are comparable to the property I have listed. Some with less square footage have sold, yet no Realtor showed my clients home. Some with the same square footage on the same street sold, yet no Realtor showed my clients home. Ones that I previewed and don’t come close to the beauty of this home. What’s up with that?  READ MORE

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Arizona Pima County Tucson
Tags:
tucson
tucson real estate
tucson market
tucson real estate for sale
tucson home for sale

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,475,180
Donna Harris
Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com - Austin, TX
Realtor,Mediator,Ombudsman,Property Tax Arbitrator
In my opinion, and maybe it's just my market, using Zillow to price a home is like using the Tax Records to price a home.  Neither show accurate values whatsoever, but who's going to argue with the taxing district to pay higher taxes?
Sep 26, 2007 02:03 PM #1
Rainer
3,359
Luis Ponce
NewKey Home Lending - Los Angeles, CA
I have been using Zillow for some time now and sure it has been wrong. But 90% of the time it has come close to what my appraiser has comped me at. Besides its faster than pulling a title profile and doing it your self.
Sep 26, 2007 02:10 PM #2
Rainer
26,520
West Hartford CT Real Estate Agent | West Hartford Realtor | www.CTMike.com
ERA Broder Group - West Hartford, CT
Zillow is only good if you cross reference your OWN research using it. I'd also say that you need 3-4 online home value sources to compare to. Zillow is VERY often wrong. I disagree with Luis entirely. If Zillow was always right, then we'd be closing the MLS and allowing home sales to happen through Zillow only
Sep 26, 2007 02:18 PM #3
Ambassador
891,486
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy
Zillow blows at getting home values here.  Despite their charts saying that they have "most" information here (instead of little or some) they are only able to get within 10% less than half of the time.  In their best markets they can't quite manage 3/4 of the time getting within 10%.  We usually peg stuff within 3 or 4%...
Sep 26, 2007 03:26 PM #4
Anonymous
Alisa

As an appraiser I find large differences in values provided by Zillow than what my research

shows.  Worse yet it gives home owners a false idea of their home's value which creates

problems for the appraiser.... 

Sep 26, 2007 04:01 PM #5
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
88,057

Douglas Trudeau

MBA, Assoc. Broker, Selling Tucson Real Estate
Ask me about Tucson and Oro Valley
*
*
*
*
Spam prevention