My home, recently purchased, does not indicate a Zestimate.

Could someone please tell me what I can do to make the Zestimate become available?

BTW, every other home in my neighborhood has a Zestimate.

Thanks!

jmazz said:

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Any particular reason you want Zillow to show one? I'm sure it's just a matter of time but a 'zestimate' is mostly pointless to those in the business.

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Curiosity only. I'm not "in the business," but just a humble fighter pilot.

Thanks.

Rock1982 said:

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My home, recently purchased, does not indicate a Zestimate.

Could someone please tell me what I can do to make the Zestimate become available?

BTW, every other home in my neighborhood has a Zestimate.

Thanks!

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your recently purchased home is worth what the appraiser stated in your loan docs. The algorithm of zillow is likely going to differ. I'd vote with the appraiser, not the computer.

Ags, it's a simple question from a fighter pilot who has almost zero interest in your industry and never looks at the board.

No agenda. I don't care about the appraisal or anything else. I'm not trying to buy or sell.

I'm simply wondering if any professional out there knows how to get the Zestimate to show. It is present on all of my neighbors homes.

Thanks in advance.

The honest answer I'd guess is that the previous owners created an account on Zillow and registered the address as their house. There's probably a 'hide zestimate' checkbox they clicked somewhere.

I'm pretty sure you can create an account on Zillow as the homeowner and should be able to put something there regarding your sales price if it's important to you. I'm meeting with my senior broker rep with Zillow on Monday and I'll ask him and get back to you.

aggiemike89 said:

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I'm pretty sure you can create an account on Zillow as the homeowner and should be able to put something there regarding your sales price if it's important to you. I'm meeting with my senior broker rep with Zillow on Monday and I'll ask him and get back to you.

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Thanks bro.

The Fife said:

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The honest answer I'd guess is that the previous owners created an account on Zillow and registered the address as their house. There's probably a 'hide zestimate' checkbox they clicked somewhere.

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I will check that. Thanks.

I wouldn't trust the zestimate. We just listed our house and the asking price for our area is much higher than the estimate on Zillow. For our house is appears to be pulling from the appraisal district's information.

Check realtor.com, their estimate for our house is much closer as it appears to use current market data for houses that are on the market or have just sold in your area.

Mine is giving a price range of $215-480k. Which is crazy, because it puts my house anywhere from $115- $254/sqft. That shouldn't happen in rural Montana, especially with a 110 year old house that's not in the best neighborhood (though nowhere near the worst neighborhood).

Houses are selling here between $80 and $120 per sqft.

P_bubel, it's telling me that a basement remodel can get me an additional $60k.

It's a great tool to use as a benchmark. So, "all houses in my area are selling for $50K more than Zestimate."

As a buyer, if I am looking at a cluster of 200 houses and one all of a sudden lists for exactly the Zestimate or lower than the Zestimate - and everyone else is listed $50K above - I'll give that house the first look.

aggiebq03+ said:

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Premium said:

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It's a great tool to use as a benchmark. So, "all houses in my area are selling for $50K more than Zestimate."

As a buyer, if I am looking at a cluster of 200 houses and one all of a sudden lists for exactly the Zestimate or lower than the Zestimate - and everyone else is listed $50K above - I'll give that house the first look.

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Ive never met anyone who found a cluster of 200 houses that all met their wife's criteria as an acceptable place to live. Does this really happen?

Also, it's seems worthless as even a benchmark since they don't even differentiate between residential and commercial property.

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You can be monitoring 4/3 homes with certain square feet, etc - hundreds at a time. They aren't all for sale, obviously. The point is if 15-20 in a small area are used as a benchmark, you'll notice most of them are all priced at a somewhat fixed point above, below or at the Zestimate.

See where the houses you are interested in are in relation to the other houses. If all houses are $50K above the Zestimate and the one you're looking at is at the Zestimate good chance there is some value there. If everyone is priced $50K below the Zestimate and the one you are interested in is priced at the Zestimate be cautious.

Same method on evaluating your current house like the OP is asking about - you're not going to list it based on the Zestimate, but you can get a decent idea about the value over years at a time without having to consult a realtor.

This is a method for picking out value quickly and NOT to replace a true comp/appraisal by you and your realtor to determine true value before buying or selling - and yeah, you may pass over some other good ones in the process,

Quote:

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That shouldn't happen in rural Montana, especially with a 110 year old house that's not in the best neighborhood (though nowhere near the worst neighborhood).

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You can be on the wrong side of the tracks in rural Montana?

I had to look mine up...

Major Kitchen Remodel $58,966 +$46,351 I guess the 2014 kitchen rebuild is starting to get old
Roofing Replacement $19,799 +$17,625 Only 15 years on 30 year shingles...
Vinyl Window Replacement $14,508 +$13,000 I agree, vinyl windows suck
Bathroom Remodel $17,283 +$12,625 Probably so, it's already two months old now
Siding Replacement $13,838 +$11,809 House is brick...
Entry Door Replacement $3,121 +$3,314 Another thing that's worn out after 2 years
Fiberglass Attic Insulation $1,207 +$1,754 Replacing foam with fiberglass is always s-m-r-t smart!
Garage Door Replacement $1,621 +$1,728 Doors (3) are oak with cedar panels and finished with marine spar varnish. If I can find equivalent ones for $1,621 sign me up!

Premium said:

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Like clockwork, Realtors always to the rescue with Zillow facts of why it is worthless. They repeat the same thing they've said since it's inception as if Zillow hasn't changed its method and algorithm. All realtors are experts on Zillow - experts enough to know it's worthless at least.

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I'm curious...do you know their method and algorithm?

Full disclosure...I'm a Texas real estate broker and I'm fully aware of their shortcomings in Texas. Just curious to find out if you know something I don't.

Stacy_L_Jones said:

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Premium said:

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Like clockwork, Realtors always to the rescue with Zillow facts of why it is worthless. They repeat the same thing they've said since it's inception as if Zillow hasn't changed its method and algorithm. All realtors are experts on Zillow - experts enough to know it's worthless at least.

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I'm curious...do you know their method and algorithm?

Full disclosure...I'm a Texas real estate broker and I'm fully aware of their shortcomings in Texas. Just curious to find out if you know something I don't.

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http://zillow.mediaroom.com/2016-06-08-Zillow-Boosts-Accuracy-with-Update-to-Zestimate-Algorithm

Texas IS less accurate as others have pointed out - and I do not trust values to be accurate. That is exclusive from the statement that it can be used as a benchmark in confined areas to compare houses of similar stature and location.

If 2 houses sit next to each other they have had the same algorithm applied to them in all likelyhood. If one is priced $50K above their Zestimate and another is priced at the Zestimate it is a good piece of knowledge to have. And again, real appraisals and comps would be imparative if you were going to buy, but it gives knowledge and power to the casual shopper.

Premium said:

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Stacy_L_Jones said:

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Premium said:

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Like clockwork, Realtors always to the rescue with Zillow facts of why it is worthless. They repeat the same thing they've said since it's inception as if Zillow hasn't changed its method and algorithm. All realtors are experts on Zillow - experts enough to know it's worthless at least.

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I'm curious...do you know their method and algorithm?

Full disclosure...I'm a Texas real estate broker and I'm fully aware of their shortcomings in Texas. Just curious to find out if you know something I don't.

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http://zillow.mediaroom.com/2016-06-08-Zillow-Boosts-Accuracy-with-Update-to-Zestimate-Algorithm

but it gives knowledge and power to the casual shopper.

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Thanks for sharing. We'll have to agree to disagree about the algorithm update making them more accurate. I don't buy it...just another press release supporting their cause. If you're just playing with the info I guess there's no harm in it, but developing a buying strategy or spreading the info as facts doesn't help anyone.

The value proposition of realtors has changed considerably over the past few years. One of the main services we provide today is helping folks sift through information (and misinformation). I'm sure zillow is a decent tool in some states, but Texas isn't one of them.

Zillow is "so accurate" that they have my zestimate at $10k under the purchase price of my home. And I know for a fact my home would now sell for $20k or more over my purchase price

AggiePlaya said:

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Zillow is "so accurate" that they have my zestimate at $10k under the purchase price of my home. And I know for a fact my home would now sell for $20k or more over my purchase price

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Mine is over $100k below my purchase price! And I know I could sell for at least 10% more than what I paid.