Zillow Estimates?

[dean c]

Is your Zillow estimate accurate? If not…what’s your estimate (high or low) of the error in percentage.

[06 SB]

Mine is about 10% low.

[boneil]

Pretty sure mine is 5-10% high.

I have heard that those estimates from zillow and redfin are used to drive sales. Not for accuracy.

[TroyBoy30]

my estimate is higher than the listing

[LateralLine]

I'd guess mine at 6 to 10% low but with rising interest rates who knows.

[Duece22]

Zillows model doesn't take into account the inside condition or location. If you call and talk to them, they tell you it does. I can tell you my house would sell for around 380-390k, 10 miles to the east in the same school district it would sell for $450k in about 48 hrs.

[dean c]

Zillows model doesn't take into account the inside condition or location. If you call and talk to them, they tell you it does.

Don’t they have to use comp sales in the area and use at least average inside condition? I seriously have no idea, but I think they run a little high on value in my area.

[Tarheel14]

There a LOT of factors that contribute to the price of a house. Zillow just does a broad Zestimate...... It can and will vary a lot depending on the inside condition and so on...... Its free to have a licensed Real Estate agent come and look at it.

[ECobb91]

Zillow doesn’t take into consideration the inside. It just uses algorithms to determine price based on year built, square footage, number of bedrooms and bathrooms, lot size, and the compares it to the recent completed sales of nearby houses. It’s not accurate but gives a general idea..

A house owned by someone very close to us is estimated at 50k. Which I doubt that’s realistic since the roof above the kitchen is sitting on the kitchen floor… another house owned by a relative has a Zestimate of 85k, and there’s open holes in the floor and ceiling to the point that mice fall on them at night. The camp next to my parents house needs to be completely remodeled, and has a Zestimate is 135k. The realtor valued the house at 60k.

Our Zillow is about 15% higher than the appraised value on the county tax maps

[posmallie]

My neighbor sold his house at the end of July and we have very similar houses. I'd say Zillow is pretty accurate for my house. Now, when it comes to my parents house, they are probably 30-40% low.

[breeves2245]

It seems about 10% high on my property.

[dean c]

Zillow doesn’t take into consideration the inside. It just uses algorithms to determine price based on year built, square footage, number of bedrooms and bathrooms, lot size, and the compares it to the recent completed sales of nearby houses. It’s not accurate but gives a general idea..

A house owned by someone very close to us is estimated at 50k. Which I doubt that’s realistic since the roof above the kitchen is sitting on the kitchen floor… another house owned by a relative has a Zestimate of 85k, and there’s open holes in the floor and ceiling to the point that mice fall on them at night. The camp next to my parents house needs to be completely remodeled, and has a Zestimate is 135k. The realtor valued the house at 60k.

Needless to say Zestimate is not accurate.

Didn’t think about those variables…lol. I guess the the holes would make a significant difference.

[west_tn]

Zillow Estimates are BS. They change the estimate to whatever the house is listed at. Around here everything way overpriced, and the zestimate flips to whatever the listing price is or at least within a few thousand dollars.

[Condor482]

Not very reliable here. No pattern to being high or low, either.

[RonCat]

I found they are a good starting point for neighborhood pricing. Lots of factors, mainly interior condition.

When we sold a few years ago, we knew we needed a kitchen and bathroom remodel, so that dropped the Zillow price. But, we had redone the basement, carpeting, and painted, and had a large 2 story storage shed that bumped up the price past Zillow. When realtor came by you could see the “oh crap” look on his face,then he stepped out back to see the saltwater hottub and shed.

[Ranger Skipper]

I think they're 10-15% high on my property. I'm beginning to believe that the city and my insurance provider use Zestimates to levy my premiums and taxes. All of it just keeps going up

[n2ratfishin]

Pretty close on our house in TN, appraised right at the estimate when we bought it five years ago. We always update the Zillow site a couple times a year with upgrades we’ve done.

[pavi69]

12% low on mine. $40,000

[Rangerdeepv]

Way low.........almost ridiculous actually.

[Goldstar225]

Probably about 10% high on my home.