How realistic do you think Zillow home price estimates are?

[starflyte1]

Do you think the Zillow home estimate is even close to the value of your home?

[boxcarwilly]

Interesting post..some you tube videos from agents have stated Zillow estimates way off esp in the FSBO category.

[JSR22]

I do not believe they are very accurate. They have no idea of what the inside of the home looks like.

[Polar Bear]

I would think there would be huge variations in Zillow's accuracy, but from my limited experience, it's been a reasonable, very general, estimate of a home's price range.

[dewilson58]

A good ESTIMATE.


Usually the details inside are gross. Personal preferences and don't add to the value.


Zillow just uses cost per SF in an area.

[Ben Franklin]

Zillow compares prices of sold homes in the general area of your home. I don't believe they take into account the different styles of homes, square footage. or lot size. They don't know if your home is 100% better or less than those sold because it's all done with computer models. That's my humble opinion.

[JimJohnson]

LOL! The villages market analysis put our home at $409,000 but the Zillow Zestimate is $328,000.
NOTE: Zillow is wack!

[dewilson58]

LOL! The villages market analysis put our home at $409,000 but the Zillow Zestimate is $328,000.
NOTE: Zillow is wack!






ugly wallpaper kills value every time.

[golfing eagles]

LOL! The villages market analysis put our home at $409,000 but the Zillow Zestimate is $328,000.
NOTE: Zillow is wack!

What is villages market analysis???

[villagetinker]

I saw our home value change +/-$50,000 over a month or so period. I was watching the house across the street that was not selling. Could not believe a $100,000 difference is such a short period of time, so IMHO, Zillow is not very accurate...........

[retiredguy123]

The Zillow estimate for my house is about 5 percent too high. But, I am a little suspicious of the independence of Zillow. Last year, a house on my street was listed by an outside Realtor. The asking price was more than $100K above the Zillow estimate. Within a week of the house being listed, the Zillow estimate increased by almost $100K. I just wonder how that happened.

[dewilson58]

The Zillow estimate for my house is about 5 percent too high. But, I am a little suspicious of the independence of Zillow. Last year, a house on my street was listed by an outside Realtor. The asking price was more than $100K above the Zillow estimate. Within a week of the house being listed, the Zillow estimate increased by almost $100K. I just wonder how that happened.




Zillow uses Selling Price in their model.


Too much work for Zillow to use Sales Price.

[dewilson58]

What is villages market analysis???




Tell The Villages you are thinking about selling. They will send in a SWAT Team and give you a price.

[Bjeanj]

Depends on if you are buying or selling. If selling, I am hoping they are very accurate. :-)

[retiredguy123]

According to a Forbes report, Zillow estimates are within about 1.9 percent of the selling price, when comparing sales prices to the Zillow estimate.

New Zillow Zestimate Accuracy (https://www.forbes.com/sites/johnwake/2019/06/30/new-zillow-zestimate-accuracy/#3bae28cb28a0)

[starflyte1]

My house estimated value is $100,000 less than one across the street. Approx. same size house. I have a 10x20 in ground heated pool and 80ft on a championship golf course.

If I would like to sell my house and someone looks at Zillow, I would not be able to sell it.

Something very wrong that they can print such false statements.

[Nucky]

I believe everyone's life experience with Zillow. Why wouldn't I? My experience in other place were so out of line that I would have classified them as FAKE News.

In Florida from my experience so far they are much more of a valuable gauge of the value of a home. I am hopeful that their evaluation of the homes within a half mile of mine continue their upward trend. Manufactured Homes are Red Hot now.

Wanna make a killing on a house? Buy at the correct price going in and going out will be much less stressful. Best of luck from Carlton Sheets & Dave Del Dotto! It's been many moons since these guys were on TV constantly and a whole lot of what they taught was shifty. Not all of it. I wonder if they are out of jail yet? These guys are a walk down memory lane and I like it big time.

I like Realtor.com who may be tied in with Zillow and Trulia somehow nowadays.

:popcorn: Does The Villages limit the amount of rentals a Family or Person can have? :popcorn:

[retiredguy123]

My house estimated value is $100,000 less than one across the street. Approx. same size house. I have a 10x20 in ground heated pool and 80ft on a championship golf course.

If I would like to sell my house and someone looks at Zillow, I would not be able to sell it.

Something very wrong that they can print such false statements.
You may want to go to Zillow.com and update your house facts. Even if they are currently accurate, they may review it and change the Zillow estimate.

Personally, I trust the Zillow estimates way more so than the listing price or what Realtors say. If a house has a Zillow estimate that is much higher than the listed price, I won't even waste my time to view it. I also use the county website to see what the seller paid for the house, when it was sold, and what upgrades were made.

[OrangeBlossomBaby]

Do you think the Zillow home estimate is even close to the value of your home?

Depends on whose home you're talking about. The home that Zillow hasn't updated in over 10 years? Or the home that Zillow updated yesterday?

Actually the answer to both is "unreliable data."

[OrangeBlossomBaby]

You may want to go to Zillow.com and update your house facts. Even if they are currently accurate, they may review it and change the Zillow estimate.

Personally, I trust the Zillow estimates way more so than the listing price or what Realtors say. If a house has a Zillow estimate that is much higher than the listed price, I won't even waste my time to view it. I also use the county website to see what the seller paid for the house, when it was sold, and what upgrades were made.

You can't always update the information, especially if you don't have a Zillow account or are a licensed realtor. They get some of their data from the MLS service which laymen can't update.

[rjm1cc]

I know of a new home that was valued at less than the original selling price. My assumption is that Zillo looks at similar homes to come up with a price. The problem was the home had a lot of modifications including solar electric that was not reflected in the estimated price.

[GoPacers]

Many sellers and seller's realtors oftentimes suggest Zillow is wrong. I don't work at Zillow but my guess is they are much closer to actual value than most people would like to admit. Their algorithms get better with time and with more data (sales). If you assume there are smart people at Zillow then they are probably looking at the same things the smart people on this forum would look at to define value (tax assessments, actual sales, etc.). The only difference is they are trying to assess values of thousands to millions of homes (algorithmically) while we get to do it for a specific house empirically.

I don't trust Zillow implicitly but I do think it does provide a good estimate for most homes. Yes, there are outliers but those outliers are not always the house that we own.:icon_wink:

[starflyte1]

I have never sued anyone in my life, and am generally against doing so. However, I can not believe that someone hasn't filed a class action lawsuit against Zillow, for publishing false information.

[retiredguy123]

You can't always update the information, especially if you don't have a Zillow account or are a licensed realtor. They get some of their data from the MLS service which laymen can't update.
Wrong. If you are the owner of the house, can update information and report inaccurate information anytime you want. You just need to verify that you own the house. Yes, it is up to Zillow to correct inaccurate information, but you can put them on notice when their information is inaccurate. They have a section on their website specifically for that purpose.

[ColdNoMore]

I have never sued anyone in my life, and am generally against doing so. However, I can not believe that someone hasn't filed a class action lawsuit against Zillow, for publishing false information.

Seriously?

A lawsuit? :oops:

Zillow/Trulia/Etc. simply give an "estimate/opinion."

They do not claim/guarantee that their opinion/estimate, is exactly what a house is worth...so good luck on suing someone over their opinion/estimate. :ohdear:

And as we all know, it's actual 'worth' will be established by whatever amount someone...is willing to sell for/pay.

I've used Zillow & Trulia, both buying & selling, to get a very rough estimate...ONLY.

What I do look for though, are homes in the general area that have actually been sold recently (sales prices are often posted on other homes nearby) and then try to compare the SF price, amenities, upgrades, Etc., Etc....to the house I'm interested in.

[OrangeBlossomBaby]

Wrong. If you are the owner of the house, can update information and report inaccurate information anytime you want. You just need to verify that you own the house. Yes, it is up to Zillow to correct inaccurate information, but you can put them on notice when their information is inaccurate. They have a section on their website specifically for that purpose.

Right. That's what I said. YOU - the homeowner - personally - cannot cause the information to be updated. Only Zillow can do that. You can submit a request for an update, but you are not able to do the update yourself.

They had a couple of homes in my old neighborhood valued at -much- more than their actual value, plus they never changed the flag on our property to indicate that it was for sale.

It had us as the original owner - it was built in 1955 and neither of us were born then so yeah - no we weren't the original owner.

It indicated we had a built-in pool - we don't, and never did. But they got that information from the tax assessor in town, which had the information wrong 10 years ago and corrected that 8 years ago when we complained we were paying too much tax as a result.

It had a lot of information incorrect, included information that shouldn't have been there at all, and was missing information that should have been there (such as our full basement, which was a pretty big deal in a neighborhood that was predominately cape homes on cement slab foundations).

Zillow is not reliable, commonly inaccurate, and untrustworthy. That's on a good day.

[retiredguy123]

I trust Zillow more than The Villages agents. A Villages agent recently showed me a house with the sales pitch that the owner could not make profit because she had purchased the house new only 6 months ago. That is false. I asked the agent why the house was priced at $100K over what the owner had paid 6 months ago and what the Zillow estimate was for the house. She said that the owner had included the 6 percent sales commission and the cost for all of the upgrades in the price. Any real estate expert knows that the sales commission is paid for by the seller, not the buyer. And, when you upgrade your house, you should not expect to get 100 percent of the upgrade cost back when you sell the house. The Villages is not being honest when they say that they do not allow a profit within one year of buying a new house. Zillow is a good way to gauge the real value of a house.

[retiredguy123]

Right. That's what I said. YOU - the homeowner - personally - cannot cause the information to be updated. Only Zillow can do that. You can submit a request for an update, but you are not able to do the update yourself.

They had a couple of homes in my old neighborhood valued at -much- more than their actual value, plus they never changed the flag on our property to indicate that it was for sale.

It had us as the original owner - it was built in 1955 and neither of us were born then so yeah - no we weren't the original owner.

It indicated we had a built-in pool - we don't, and never did. But they got that information from the tax assessor in town, which had the information wrong 10 years ago and corrected that 8 years ago when we complained we were paying too much tax as a result.

It had a lot of information incorrect, included information that shouldn't have been there at all, and was missing information that should have been there (such as our full basement, which was a pretty big deal in a neighborhood that was predominately cape homes on cement slab foundations).

Zillow is not reliable, commonly inaccurate, and untrustworthy. That's on a good day.
What good would Zillow's website be if they allowed the homeowner to enter information without verifying the accuracy? It's their website, not the homeowner's. According to the Forbes report, the Zillow information is much better than it was years ago and getting better all the time. For current sales, the Zillow estimate is within about 1.9 percent of the actual sales price. I think that is a pretty good record. I wouldn't call it commonly inaccurate.

[valuemkt]

I have found zillow to be a very valuable resource. I've sold "average" properties for plus or minus 3% of zillow, which, in many cases, was above realtor "comps", and also sold rehabbed homes much higher than zillow or comps when they had been updated with modern colors and features. In either case, zillow is a great starting point. In the case of your own personal residence, most people over value features that are important to them .. but not potential buyers. Isn't that why many FSBO's are priced over Zillow and sit unsold ? A 15 year old house that hasn;t been touched in that time, will theoretically sell for much less than one that has been painted with current colors, has updated counters and appliances, and newer HVAC etc. The Zestimate figures on average improvements over time. At the same time, certain features that you have found valuable might not be worth as much as you paid for them .. eg someone might love your house, but consider your pool, summer kitchen or your kissing lanai to be negatives or deal breakers. So, IMO Zillow is a great place to start your objective valuation.

[Two Bills]

My wife and I have bought and sold many homes in our life, and it must be the same the whole world over.
The one thing we always found, is that if your house is well presented, and you get no offers, you are asking to much, whatever online websites, or realtors say.
The other thing we learnt, was if a place is perfect, so is the price.
Buy the less than perfect, if possible the more less than perfect, and then you have all the profit!

[mamamia54]

Sometimes I think the Villages realtors discuss what they are going to set prices at. I think they all list the houses high for the most part. Most patio villas are coming on at 210,000 and 220,000. For a patio villa! I think the prices went higher on a patio villa than other models. Just my opinion.

[eddie m]

Do you think the Zillow home estimate is even close to the value of your home?
It’s different here in the Villages. Seeing that the homes are “cookie cutter” styles the difference in pricing that comes into play is location, block and stucco verses vinyl siding, views, pools, golf cart garages, granite, tile verses carpet.
The newer home’s being built here in my opinion only, are being built closer together, have shorter driveways, along with the bonds, no squares and not enough amenities to support easy accessibility for the homeowners to enjoy with more than 60,000 new homes being added. That being said people who love the trails and quiet layer back lifestyle suits their needs.
Been in real estate for over 35 years, experience shows that location will always be the major factor in pricing.

[Gigi3000]

Try Chase banks home value finder. I would go by that.

[Windguy]

Call me a cynic, but I suspect that Zillow estimates are high because they want to encourage people to sell their houses to get their hands on that supposed equity. In my past dealings with realtors, they always told me my house was worth more than it eventually sold for. They made silly comments like “I can get you TOP DOLLAR!”

I guess I’m just a suspicious person and I tend to question people’s motives. For instance, how does Zillow benefit from their service? They certainly don’t do it out of the kindness of their hearts.

[Davelinda91]

I think everyone in TV lists selling price by model type. I find it strange that a “Bond Paid” has the same listing price and up grade such as granite doesn’t increase the value. In TV the only thing that I can see changes the listing price of the same model home is location, location, location!

[retiredguy123]

The way houses are priced in The Villages is not much different from anywhere else. But, Zillow has changed a lot by becoming more prominent in the real estate market. Real estate agents and other people selling their homes are using Zillow for sales and marketing purposes much more so than years ago. Some people will actually buy a house by viewing it online and not even visiting the house. I think Zillow benefits by being as accurate as possible with their estimates and other information.

[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

[OhioBuckeye]

You know what they say, Location, Location, Location. Plus you got to do a market value. Even TV have some area’s that don’t have some desirable area’s. Stay with somebody that knows & seen TV. Zillow only sees pictures!

[crypto835]

Do you think the Zillow home estimate is even close to the value of your home?
NO. Ask any licensed real estate appraiser.

[meridian5850]

You can't always update the information, especially if you don't have a Zillow account or are a licensed realtor. They get some of their data from the MLS service which laymen can't update.

Actually, all you have to do is put your address in, click on "claim this home as your residence", update the info and the estimate gets updated.

[Investment Painting Contractors]

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

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.

[retiredguy123]

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.
I would encourage people to read the Zillow "zestimate" section on their website. They explain how they measure and track the accuracy of their estimates, including spreadsheets. Their accuracy has recently been within about 1.9 percent, when you compare their estimate to the actual selling price, which is public record. So, unless Zillow is lying, I think their accuracy is very good. But, of course it is an estimate. I have never heard of a real estate gospel.

Also, I don't think real estate appraisers are the best people to estimate market value for buying or selling a house. They usually work for the bank, and their primary function is to satisfy the bank.

[Chi-Town]

I find Zillow to be much more accurate than it was years ago. And as mentioned before you can log in to establish an account and correct or update information about your house. You can even add a picture or two. Of course, your input has to be verified before the changes are made.

Anyhow, go to Zillow.com and check out your house; it can be a fun exercise.

[pjlyness]

I recently bought my home here TV and the appraised value is about $25K under Zillows’s estimate. A recent appraisal is always more accurate.

[starflyte1]

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

That explains the low value on my home. Thanks! The home across the street that has a value of $100,000 more than mine, has no pool and is not golf front, just sold last year, so the estimate has been updated.

I have owned my home for 10 years and have been homesteaded in Florida since 1992, when the law went into effect. I have been able to carry that tax benefit with me.

[pdp07]

Zillow is not very accurate. They do not consider specific lot location or upgrades you may have put in, ie. enclosed lanai, granite counters, remodeled kitchen and/or bath ect. 2 identical models may show the same price on Zillow, but 1 may have $50,000 in upgrades. It is like saying 2 identical model used cars are worth the same when 1 is a stripped down bare bones version that has been in an accident and repaired and the other is loaded, garage kept and well maintained.

[Investment Painting Contractors]

That explains the low value on my home. Thanks! The home across the street that has a value of $100,000 more than mine, has no pool and is not golf front, just sold last year, so the estimate has been updated.

I have owned my home for 10 years and have been homesteaded in Florida since 1992, when the law went into effect. I have been able to carry that tax benefit with me.

Starflyte Don't worry My son and I bought 9 homes from 2012 to 2014 Our purchase prices weren't even close to Zillow's estimates. But they did get the sales prices right. Len

[DAVES]

Do you think the Zillow home estimate is even close to the value of your home?

My experience in selling our previous home. We had a long term plan so I did my own study. A broker will tell you zillow is not accurate. Realize they are sales people their biggest sales job is convincing you that you need them. Aside we did sell through a broker. My logic is that if you do a for sale by owner, the seller thinks they are saving the commission. The buyer looking on for sale by owner also figures on saving the commission. You can't both pocket the same money.

To the zillow price. It you hear of a home sold. You can easily look up the zillow price and compare it to the sale price. You need to do it quickly before the zillow price is adjusted to reflect the sale. My experience is the zillow price will be close to the sale price-5% lower or higher.

A typical broker game. They want to get the listing. I can get you xxxxxxx another broker tells you your home is worth 10% less than that. So you go with the person who claimed they would get you more so you give them the listing. Hey even with their higher commission you will still net more. Then you sit, You wonder why no one is looking and those who look don't even make an offer. The broker says you need to lower the price by 10%.

[justjim]

The Villages is a very unique community. Zillow estimates work reasonably well in most real estate markets. I would not bother with a Zillow estimate in The Villages. As always, a piece of property is worth only what someone is willing to pay for it in today’s timeframe.

[Villagesgal]

Not even close if you live on a golf course. They use sale prices in your general area which includes homes outside of the villages and doesn't include golf course or lake front properties. So, no, they are not accurate at all.

[prettyw102@aol.com]

When we put our house up for sale in So. Fla. at $475,000 Zillow estimate was $450,000. When we lowered it to $435,000 it estimated it to be $414,000! We sold it now the estimate is $441,000. Go figure!

[starflyte1]

////

[JoMar]

If the consensus is that the Zillow estimates are low....well....YIPPEEEEE!!!

[retiredguy123]

I don't understand why some people are saying that Zillow estimates are not accurate, when the published data suggests that it is very accurate. If you are going to say that estimates on a website are not accurate, then you at least need to support the claim by comparing it to other competing companies that prepare similar estimates. Obviously, if you buy or sell your house for a different price than the Zillow estimate, you may think that the Zillow estimate was not accurate. But, that is not necessarily true. Some people overpay or underpay for a house. Zillow is just providing an estimate of the market value of the house.

[CFrance]

We bought our CYV privately (for sale by owner) at a great price a year ago. Tip-top condition, with many upgrades. We have watched smaller CYVs than ours on the same street sell for more through realtors. But we believe because of our low purchase price, our Zillow estimate is now lower than the exact same models on our street.

[larcha]

Until a house is sold there is no way to tell "what a willing buyer and and a willing seller" will agree to. We had The Villages real estate people do an estimate on our house some time ago. Their estimated price was considerably higher than what any similar model in our neighborhood has sold for during the subsequent 5 years.

[Rosebud2020]

You may want to go to Zillow.com and update your house facts. Even if they are currently accurate, they may review it and change the Zillow estimate.

Personally, I trust the Zillow estimates way more so than the listing price or what Realtors say. If a house has a Zillow estimate that is much higher than the listed price, I won't even waste my time to view it. I also use the county website to see what the seller paid for the house, when it was sold, and what upgrades were made.


Trusting Zillow for accurate estimates of a home's value is 100% blind faith!

Realtors are trained to do comparative market analyses and their estimate of value is based on facts -- the same facts that appraisers use. Not so as far as Zillow whose estimates of value are usually high.

The price a person originally paid for their home has nothing whatsoever to do with the current value. The county's website really tells you nothing about the upgrades a person has done since they owned the property.

[retiredguy123]

Trusting Zillow for accurate estimates of a home's value is 100% blind faith!

Realtors are trained to do comparative market analyses and their estimate of value is based on facts -- the same facts that appraisers use. Not so as far as Zillow whose estimates of value are usually high.

The price a person originally paid for their home has nothing whatsoever to do with the current value. The county's website really tells you nothing about the upgrades a person has done since they owned the property.
I wouldn't blindly trust anyone regarding the value of a house. The best way to feel comfortable about a sale price is to gather as much information that is available. The county website is supposed to indicate permitted upgrades and often does. And, what a person paid for their house sometimes indicates how much they are willing to sell it for, especially if they haven't owned it very long and are trying to make a huge profit. Both Zillow and Realtors do comparative market analyses in preparing an estimate. But, the Realtor's primary goal is to sell houses and make a commission, not to do accurate estimates. Very few people are willing to pay an appraiser unless they are forced to by the bank. The published data does not indicate that Zillow estimate are usually high. These are facts.

[flhr95]

You can also create an account on Zillow (free), which allows you to own your home and make modifications to all the listed options also create a custom explanation of any upgrades you have done and location premiums. I have found it helps when selling or purchasing, gives the buyer/seller a more accurate view of the property for sale.

[PizzaVilla]

Having recently both bought and sold property in different states, Zillow is Zooey. My guess it is a computer program that gathers limited data to determine price with limited or no weighted factors such as location, interior or exterior quality or upgrades, school districts, healthcare, curb appeal, etc., etc.

[Spoiler]

And as we all know, it's actual 'worth' will be established by whatever amount someone...is willing to sell for/pay.

I've used Zillow & Trulia, both buying & selling, to get a very rough estimate...ONLY.

What I do look for though, are homes in the general area that have actually been sold recently (sales prices are often posted on other homes nearby) and then try to compare the SF price, amenities, upgrades, Etc., Etc....to the house I'm interested in.

I think this sums it up for me exactly.... :ho:

[Chi-Town]

Not even close if you live on a golf course. They use sale prices in your general area which includes homes outside of the villages and doesn't include golf course or lake front properties. So, no, they are not accurate at all.

Checked out Zillow pricing in my immediate neighborhood. There were significant differences between golf front and non golf front properties.

[OhioBuckeye]

Zillow is pretty much an open publication from any state. I've never sold a home on Zillow, as a matter of fact I've never ever sold anything on Zillow. I think Zillow sells because it can be seen from a lot of states. I would never sell anything on Zillow because there's to many bad people on it. Just my opinion! If someone doesn't like my input that's OK because like I said, it's just my opinion. Good luck selling you home with whoever!

[manaboutown]

Over the last several years I have monitored half a dozen homes owned by family members on Zillow. One runs consistently high; the others are fairly valued. One bounces around in value on Zillow as it does IRL. Unless a house is unique in an unobvious way its Zillow estimate is likely fairly accurate IMHO.

[Ann Marie Acacio]

Zillow estimate was 30K less than the asking price for the home we recently sold in PA by owner. Happy to say we got our asking price! I don't trust Zillow's estimates since they're sight-unseen of the actual house.



PA for 77 years, Wilkes-Barre area, now TV full-time!

[dewilson58]

People...........it's an estimate. Period.




The Zestimate® home valuation model is Zillow’s estimate of a home's market value. The Zestimate incorporates public and user-submitted data, taking into account home facts, location and market conditions.
It is not an appraisal and it should be used as a starting point.

[b0bd0herty]

Not that Zillow is accurate but, I tend to believe that The Villages inflates the homes value.

[Rosebud2020]

I wouldn't blindly trust anyone regarding the value of a house. The best way to feel comfortable about a sale price is to gather as much information that is available. The county website is supposed to indicate permitted upgrades and often does. ]And, what a person paid for their house sometimes indicates how much they are willing to sell it for[/COLOR], especially if they haven't owned it very long and are trying to make a huge profit. Both Zillow and Realtors do comparative market analyses in preparing an estimate. But, the Realtor's primary goal is to sell houses and make a commission, not to do accurate estimates. Very few people are willing to pay an appraiser unless they are forced to by the bank. The published data does not indicate that Zillow estimate are usually high. These are facts.


Blindly trusting anyone regarding the price of a house could only be by word of mouth and that would be insane without any back-up information.

The county only tells you that a permit was issued. It doesn't even tell you that the work has been completed nor does it indicate the materials used or the quality of the work.

What a person originally paid for their home has nothing to do with what they might accept as a selling price. You would only be guessing or have wishful thinking.

Have you even seen or received a market analysis done by Zillow? No, I thought not. However, that is what Realtors do. You will get in in writing with all the current facts clearly explained and outlined. The facts given are clearly provable.

Of course a Realtor's goal is to make a commission when they sell a house. Just like any sales job, that's their profession! As far as accurate market analyses, you are incorrect. They don't "fudge" or misrepresent information; their report is based on substantiated facts as mentioned above.

[jmcica@aol.com]

The best way to determine value is of course to look at sold “comparable homes with similar amenities and similar location” - go to open houses if you are thinking of selling!! Buyers do this to determine value. An appraisal is only good for approx 3-6 months max. As a prospective buyer-I will go to as many open houses in my price range as possible so I can determine what is a fair value - it will be very easy to determine what is overpriced as well. I may or may not look at Zillow but I would definitely use local Real Estate agent to assist me with the entire process because they will know the local market.

[pdp07]

That is like saying that all houses of the same sq ft should sell for the same price, regardless of upgrade or condition. If they have not seen your house, how accurate can the guesstimate be. Knowing how inaccurate they are, even Zillow made up a word Zestimate to Cover Their A__.

[starflyte1]

Someone explained that Zillow prices homes on sale price and tax paid, and an average of all the homes in the area.

Because I have owned my home 10 years, the price has not changed in 10 years, and due to save our homes, pay a very low tax rate.

I do not like the estimate of my home, but try to understand why it is so low.

[BCover]

From my experiences Zillow is fairly accurate.

[KRM0614]

Agents here are not realstic Zillow lets you post own price and they’re free why pay commission for doing so little

[Boilerman]

My experience selling and buying several homes recently is that Zillow is a great starting point and their estimates are within about +/- 5%. We have found Zillow very useful.

[starflyte1]

Checked out Zillow pricing in my immediate neighborhood. There were significant differences between golf front and non golf front properties.

This may be true for newer neighborhoods, but does not seem to be true when a home hasn’t been sold in ten years.

[DAVES]

When we put our house up for sale in So. Fla. at $475,000 Zillow estimate was $450,000. When we lowered it to $435,000 it estimated it to be $414,000! We sold it now the estimate is $441,000. Go figure!

Dates are obviously important but omitted from your post.
Zilliow supplies a range as well as the zillow price. If, the zillow price on your property was 450 and you listed at 475. I wonder why you listed it so much higher. I suspect a realitor looking to get you tied up with a listing told you they could get you 475 and then later when you wondered why it was not selling told you to lower it to 435. You do not say what you sold it for, just that it is now estimated at 441. Zillow also provided expected rate of increase or decrease.

In any case, I would not, I do not, fret over past decisions. I investigate and then make a decision. If, it is or was a wrong decision I am comfortable knowing that based on the facts I had at the time I made the right decision.

[DAVES]

My experience selling and buying several homes recently is that Zillow is a great starting point and their estimates are within about +/- 5%. We have found Zillow very useful.

As I've stated elsewhere, Zilliow provides the zillow price but also provides a range. The zillow price is usually in the middle of the range price and the difference from the low to the top is 3-4% down and 3-4% up.

You can and people do list a home at any price they wish. A friend needed to sell his home. The bank was going to foreclose. He priced it for way over the zillow price. When, I asked why, the reason was that he needed that much to cover the two mortgages he had on the property. It was foreclosed on. Yes, I did get the money I stupidly lent to him but, I lost a friend?

[Brendanyc]

I had this issue after I bought my 2nd home in Hillsborough. We originally purchased in Bonita and stayed a short time. The Hillsborough house is large, 4 bedroom. We installed a 2000 square foot lanai with a pool. Zillow didn't know that. On Zillow there is a place to update your property and add in all the addition. Somehow they calculate and lo and behold your median range is truly reflective of current market value.

[villagerjack]

Do you think the Zillow home estimate is even close to the value of your home?

Zillow does not give value to the lot view, a huge factor in The Villages.

[CoachKandSportsguy]

I have never sued anyone in my life, and am generally against doing so. However, I can not believe that someone hasn't filed a class action lawsuit against Zillow, for publishing false information.

Zillow uses data only to create an estimate for a house. The data is always incomplete and the data will always be incomplete. The data they use does not have particulars as to the quality of the house. Also, people have independent views and biases that don't see a generalized answer as accurate if they have personal bias or knowledge. Likewise, your realtor will give you an estimate for the sale price of a house, but seldom does the house actually sell for that exact number.

There would be no basis for a lawsuit against zillow for creating an estimate of the house for that area based on houses in that area for a non sale public internet search. I work with data and forecasts and estimates for a living, and always remember, the future is uncertain, and sometimes the future is more uncertain than at other times. The data will always be incomplete, such as a individuals taste or a view of the quality of the house.

sportsguy

[Boomer]

There is a book titled Zillow Talk.