Zillow launches Zillow Zestimate Forecast predicting your home value in 12 months time

[marino760]

I don't know what the big deal is either. It's there so people can have a clue about what their house might be worth without getting a realtor involved. It's not an appraisal and doesn't claim to be.

[thebigW]

Originally Posted by OuttatheRain

Ugh, I wish the site would take down their stupid "zestimates" all together.

We had TWO listing realtors show up for interviews who told us they would need us to list within a few thousand dollars of the "zestimate" because "the zestimate is always accurate within 10%" (says one) and "buyers won't buy your house if it's too far off the zestimate" (says the other one)

We hired neither realtor, but it irks me that a WEBSITE has this much power!

You can thank Zillow for helping you with your sale.......It saved you from having to deal with these idiots for one second more

[dontaskwhy]

Originally Posted by marino760

It's not an appraisal and doesn't claim to be.

Problem is that too money people mistakenly believe it is an appraisal.

[elliedeee]

The Zestimate on my house is so much lower than my neighbors because they've got my property size listed as the same size as my house size.

I'm going to leave it that way though because when I do go to sell and people actually see that we do have property the Zestimate won't carry any weight if they try to use that as a bargaining tool.

[399083453]

Heh. There will be so many complaints and it means nothing. But the more people talk about it, the more people will use Zillow. Even bad press is good press.

[Spottednikes]

So now they can not only be wildly inaccurate on current value but on forecasted values as well.