Interesting how Zillow seems to attract supporters like Zimmbobway who created a yahoo account purely to post his moronic thoughts about Zurbiton. One has to presume Zimmbobway is a Zillow insider to be so motivated to go to all that effort.
Even more interesting is the name 'Zimmbobway' which is a play on 'Zimbabwe' which is despised by all fair minded countries for its appalling record on human rights, and how President Mugabe and his supporters confiscate farms and homes of dissidents. Just like Mugabe, Zillow has 'confiscated' my home too by banning me from their website for being critical of their flawed zestimate algorithm and the garbage valuations they publish on private property.
By confiscating my home the way Zillow did and refusing me access to update missing / incorrect details, Zillow reduced the already incorrect zestimate by a further $30,000. One can only presume this was yet another spiteful act on Zillows part to stamp out dissidents who challenge the way they impose unwanted and inaccurate zestimates on homeowners with no right of appeal. Then they wonder why I protest at such arrogant treatment?
When a company behaves in such a way are you surprised that a year after it floats as a listed company the SEC starts investigating it? that shareholders start a class action? that they reschedule an Investor day to the end of March to avoid answering questions? that they have not published monthly Unique User data since the September data? Is the monthly user data so bad for October and November that Zillow is too embarrassed to publish it?, or at least an explanation why they have chosen not to publish. So many questions and so few answers. And just like President Mugabe of Zimbabwe, Zillow has an egotistical CEO, who spends so much time Twittering that the 1st question I would ask at an Investor Day is what the heck are you up to wasting time acting like some 2nd rate celebrity wannabe when he should be working on sorting out the mishmash of acquisitions that Zillow paid over the odds for in recent months.
Agreed, zimmbobway is an idiot by my reckoning as well. But what about you Zurbiton?
You truly are obsessed. Perhaps you are blaming to much of your woes on the Zillow Algorithm.
As the Algorithm is just that, no one else is expecting 100% accurate valuations. There are ALWAYS particulars that get ignored by the relative value schemes that the mortgage and real estate industry use to appraise a home. For instance, you could live in one of the worst neighborhoods in Detroit, yet you've remodeled your home with marble counter tops and gold plated plumbing fixtures. The truth is, the banks don't care, the appraisers don't care, the tax man doesn't care, nobody but the person who comes in to look at your home and decides it's a "steal" for them, or horrifically over valued. In any case, it's only worth what the buyer believes its worth. By the virtue of the fact that you place SO much credence in the Z Estimate and it's impact on perception, you in effect have given Zillow the biggest compliment and endorsement that they could EVER have hoped for. In other words, if SO many people follow it, and use it as a resource, the business model if far and away a success.
Bring your message to the realtors multi listing service and make sure their valuation is accurate and then forget about Zillow. You, and others like you are using it incorrectly if you're expecting the "algorithm" to be infallible.
Nobody expects 100% accuracy but nobody should expect the disparities within neighborhoods of similar homes that titwillow shows in its estimates. Nor should anyone be expected to accept the volatility, week to week and even intra-week, that the website offers. It is interesting how they can offer estimates that change three times per week in one state whose database of information (upon which the algorithm suposedly is built) is known by the real estate professionals to be suspect, yet totally ignores another state (Zestimite = NA) that has a far more refined database that is updated frequently.
The Zestimate is the driving force behind the company's revenue and will eventually be its achilles heel. The estimate itself ultimately means little, but it attracts the curious -- homeowners that want some comfort that their investment is appreciating; homeowners that want to know that their investment is worth more than the house next door; homeowners that want to know what the town thinks of their house as compared to others in the neighborhood (tax assessment); and, no question that prospective homeowners look to gauge the ask price of a home against some sort of benchmark, as well as find useful information such as how long the property has been on the market and how many times and by how much the ask price has been lowered.
All of this translates into "clicks" that ultimately determines revenue.
My point has consistently been that the problems that reside with the estimates will ultimately turn users off. Sellers will eventually opt out of using titwillow as an advertising medium for their homes. Already, the realtors dislike the site but feel for a variety of reasons that they must use it. But if their own clients opt out, the realtors will follow -- especially if other information sources begin to offer the same useful information as titwillow. And this will lead to fewer clicks.
So, somebody please tell me: Other than the Zestimate and its flawed algorithm, what does titwillow offer that cannot be replicated by at least three different groups in a single afternoon?