Zillow Accuracy... Not Often The Case
Although, we love Zillow for many of its useful informative features, there is something to consider about their valuations. For major metro areas, with many neighborhoods within another "like Los Angeles", they are unable to truly grasp the real values neighborhood by neighborhood, street by street, and most often affected substantially, condo buildings. Zillow estimated values are based on limited data provided from assessor information and local MLS reports. Assessor/Title information is very limited. It only provides you with the sale price, square footage, beds & bath, and lot area size. Same goes for the MLS when data is only downloaded. This is a great start, but there are many more factors to be considered when valuing a property. For instance; If you own a condo, the floor your unit resides on, the view, the fit & finish, year built and quality of the building are what truly define the value of your unit. These factors are not considered in Zillow