Zillow has no credibility whatsoever. My house sits on 4 lots, but the reported value is based on the public data for only one of the lots (the one corresponding to the street address). Also, it’s lakefront, and the so-called “comps” they list usually include no lakefront property at all. They base them on sq footage and number of rooms. It’s a complete fraud. The value they show for my house is about 1/3 of what it should be, based on actual lakefront property sales in my neighborhood and the proper consideration of the entire property.
If you want plain-jane subdivision property, maybe its ok.
I noticed recently that Zillow has rather significantly lowered their estimated value of my home. Ok, no biggie—the market fluctuates, and the previous estimates they’d had over the last 8 months or so seemed rather high. But then I noticed that they had altered the historic value of the home as well as if those high estimates had never existed. The chart shows a smooth increase in value up to it’s current estimate, rather than a crest and decline. Seems sketchy to me.