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haha I just figured out part of reason the @zillow estimate for my house fell 60%
They recently started using tax data. Compare tax estimate of houses to sale prices of houses, find offset, use that offset on YOUR tax estimate, get a calibrated estimate for fair market value
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2/ My property is kind of weird. I technically own THREE parcels. One is 1/10th of an acre. One is 16 acres (my house is on this parcel). One is 40 acres. Turns out that Zillow grabbed tax data for my street address...and used the first hit. The 1/10 of an acre lot.
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3/ So their estimate for my house is built thusly: * 50% looking at values of comparable houses that have 6 bedrooms, 3.5 bathrooms, 3 car garages, barns, etc. * 50% the $1,844 0.1 acre lot, inflated by 12% to reach fair market value I bet I can guess when their algo changedpic.twitter.com/R28OXKEiDP
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Replying to @SpaceAgeCowboy @zillow
the town has three assessments for my three properties. I pay taxes on that. the town does not look at zillow.
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Replying to @SpaceAgeCowboy @zillow
I ... I can't follow what you're saying. The town has three estimates, all three are fair and valid. Zillow had an estimate using algo #1, which was decent. Then they switched to algo #2, which generated bad results.
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ah, got it no, I see no evidence of that I suppose I could look at the history of other properties around me via zillow without my particular weirdness of 3 properties, the data should be a bit better...
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