Quote:
Originally Posted by petsetc
From very recent, personal experience (on going) I can say that if the house has not had a recent sale, or has undergone any extensive renovation, the Zillow estimate is not accurate since it seems to be based on last sale and tax assessment. In my case, once listed and the info on Zillow it came up about 50%. While on the market, it changes as a function of time/price adjustments and immediately adjusted when "under contract". When the contract fell through (buyer financing), the Zillow estimate adjusted downward, even though the VA appraisal was high. I also followed the Refin estimate and have the same impression. FWIW
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You are RIGHT ON THE MONEY. They are strictly estimates. They are wrong over 50% of the time. They are used as generalizations and not gospel.