Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Zillow pulls data from the tax rolls.
If the tax rolls are inadequate, Zillow is inaccurate.
They have no idea whether you have a view or not, or whether you have a dilapidated home, or a showpiece.
There is no substitute for 'boots on the ground" for setting values. You just gotta see the property. That is one reason the computer modelling of the tax reassessments creates such a fuss.
Because there are houses featured on the site, people mistake Zillow for a real estate site.
It is NOT a real estate site.
It is a platform to collect revenue from sales of the ads you see.
No mo, no less.
If they get a value right, it comes right out of the "Blind Pig Finds an Acorn" files.
Thanks for the information. That makes me feel a little better.
And at least you didn't mention any lipstick being on this blind pig. Pigs haven't been given any mercy lately
Zillow is wildly inaccurate for my neighborhood. I would imagine that in a newer, more cookie-cutter neighborhood, it is more accurate. But the 100 year-old houses in my neighborhood are widely variable in condition, and the dept of revenue data is usually incorrect. It also lags market trends, for obvious reasons.
Doesn't Zillow use comps and sales from the surrounding areas in their calculations? I see they have a way that you can check those.
When I talked to a realtor two years ago about the possibility of listing my house, she told me after a market analysis what she thought it ought to be listed for and it was within the Zillow estimate.
Also had two relatives who sold their homes, one in the PNW and one in the midwest, and theirs also sold for within the Zillow estimate. So all this time I've been thinking they were pretty in line. I know it's all so individualized by condition, location, on and on, but so far I haven't seen anything that would give me a clue Zillow was way off base.
Just passing on what I had investigated.
best,
~ toodie
Doesn't Zillow use comps and sales from the surrounding areas in their calculations? I see they have a way that you can check those.
When I talked to a realtor two years ago about the possibility of listing my house, she told me after a market analysis what she thought it ought to be listed for and it was within the Zillow estimate.
Also had two relatives who sold their homes, one in the PNW and one in the midwest, and theirs also sold for within the Zillow estimate. So all this time I've been thinking they were pretty in line. I know it's all so individualized by condition, location, on and on, but so far I haven't seen anything that would give me a clue Zillow was way off base.
Just passing on what I had investigated.
best,
~ toodie
No, this was my understanding as well. It does appear to pull data from public records & past sales. I think zillow is good for giving you an idea about what your house is worth, but I don't think it is a subsitute for consulting a realtor.
Zillow can also be way off on what the house description itself. Our house was showing as a 2,000 3 bedroom single story when it was actually a 4,200 sq. foot 2 story, 5 bedroom. At no point had it been what it was listed as, so no idea how they came up with that. Also showed we had .25 acres when we had 1.75 acres. Needless to say, the estimate was wildly off.
Status:
"Made the Retirement Run in under 12 parsecs!!!"
(set 22 days ago)
Location: Cary, NC
43,177 posts, read 76,826,386 times
Reputation: 45533
Quote:
Originally Posted by sls76
We sold our home in Cary in May for $510k (after 32 showings). Zillow has its zestimate as $634k.
See. Your Realtor under-priced it just to make a quick buck.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.