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If you claim ownership of your home on zillow you can enter any improvements you have done. That will reflect in the zillow estimate.
But yeah, zillow is crap. Although that doesn't stop a buyer from throwing in your face.
This is untrue. Someone said the same thing a while back so I updated my house to a 50 bedroom, 30 bath home with 30,000 sq ft, price never changed. I also had another home that was remodeled and a bedroom added which added almost 500 sq ft more, the estimate never changed.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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I love looking up my own home on zillow whenever these threads appear. APparently my home went down in value $6500 last month. My next door neighbor; Up $150. LOL
Zillow tends to undervalue everything. It is a disadvantage for sellers. It does tend to reflect a downward or upward trend, though, when I tended to follow specific properties.
Strangest phenomenon that I've observed is that when a house is listed for say, $1000000. Then it is removed/relisted for a higher price, say $1.2M, the ZEstimate value goes up. Very weird.
I fully agree with your observations and the strange phenomenon you explain is the fundamental flaw in the Zestimate algorithm. I have noticed homes with zestimates that are continually going down every time they are updated, and the zestimate for the home next door of the same characteristics goes up every time; almost as if the zestimates movements dictate the trend rather that reflect it.
It is for these reasons that I posted the following thread on here and it is a big question which unfortunately seemed to get derailed by a handful of posters for whatever reason. When I read so many comments on here about how inaccurate Zestimates are then it is only right that Zillow develop a process that enables homeowners to get substantially incorrect zestimates deleted or corrected.
I've been in the habit of looking up housing costs on i-phone as I drive to get an idea what houses cost. I'm just curious if sites such as zillow are reliable and "on the money".
They aren't that accurate, but they are the best option without doing research into comparable sales or getting an appraisal. Virtually everyone in the mortgage industry use them to base a person's initial LTV.
I don't see why people are complaining about Zillow... I don't know anyone who is taking zillow estimates as a valid estimates, but zillow have very valuable features for buyers - in our area zillow shows sales history for the property as well as for neighborhood, zoned schools with the rating, number of days on the market...
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Zillow tends to under value everything
