Thanks @andrew_syrios for sharing the list of your Appraised property values v. Zestimates - that really shows the volatility of Zillow's 'accuracy'...it's not much to hang your hat on, particularly for non-listed property. I think this is definitely true. Thanks for putting this together, you turned a discussion usually based on opinion into a factual one. Zillow’s accuracy is dependent on many factors including the data the system has on any given property. I think that's a good way to think about it, although I think tax assessments are even worse and often systematically so. Essentially, the line btwn the houses ends on their driveway. And bottom line, if the estimate is off by 10% or more, I don't even think it's a useful place to start - it's just wrong, and probably not any better than doing a thumb-in-the-air guesstimate based on a quick eyeball of recent sales on the Zillow map. Property lines for where I live, Harris County, TX, USA, are to the best of my knowledge, taken from the county tax office maps. Anything less is called speculating. Seems the novice or out of area investor might be better off getting the 'ball-park' value from the Tax records or possibly a combo of online resources (2 or 3) in addition to the Tax Value. Also, about three years ago, the United States Bankruptcy courts accepted Zillow as an estimate of current value. Ask if the surveyor is willing to walk your property lines with you following the completion of the survey. Zillow also publishes a list of how its Zestimates compare to actual sales prices based on county, state, and metropolitan areas for both on-market and off-market (for sale by owner) sales. Banks, lenders, title insurers, counties — they will all rely on the precision provided by such a surveyor, and they usually come with some warranty/liability claim, that you can take to the court, if you need to defend a claim based on property lines. It's important to understand that official appraisals carry *alot* more weight than any automated valuation you can get (anywhere). The bottom line us really, you can't predict a home's sold price to an exact 100% perfect mark. Our parcel information, which outlines the lot on which a house sits, comes from various public sources, such as the county. This will ensure that the fee estimate you receive is as accurate as possible. Use these simple equations to easily determine the value of multifamily properties. Check the property survey you had received when you bought the land or house. Is it a coincidence that this happened right around the time Zillow announced they were entering the flipping market in LA via its Zillow Instant Offers program? I called the surveyor and he said it was going to cost upwards of $2000.00 for the survey. Considering that there are only about 400,000 home … But, Zillow might not see town property lines, or know that this side of the road goes to this school vs that school. The surveyor needs to be licensed with your state and should carry professional liability insurance, which can cover you if the surveyor makes a mistake in the survey. As stated above, Zillow is atleast a place to start. One of the questions that real estate agents often get from consumers is 'how accurate are Zillow home value estimates.' If it wasn’t included with your paperwork, check with your local clerk’s or surveyor’s office. Property lines are not physical entities that are visible on aerial imagery or on base map data such as street networks. Doing so allows them to increase their profits in the face of Wall Street pressures. But presumbably Zillow also uses tax assessments and that would make them even less reliable in California and Oregon. Then filter to properties with the same number of beds, +/-1 baths, +/-25% sqft living area, +/-50% lot size. After all, they could just charge a lower rate and have them assessed closer to market. Bottom line up front: If you want accurate, precise, and binding boundary lines to be drawn up - go through your local surveyor. That might be why it's better in your neighborhood. I work with AI and neural networks now and have been impressed with how Zillow has updated pricing in the next 3 years it will become even more accurate as other sensors are used t record many other attributes of the property. We are confused on where our property lines start and stop. Sound, indoor Air Quality, Water Quality at the tap can all easily be measured now and available soon to look at before purchase. I would add that there is another factor that possibly motivates Zillow to be INaccurate. Thereby, a better way to evaluate the quality of Zestimates may be appraisals, which would eliminate the listing price as a confounding variable. Just because Zillow can’t provide an accurate property value doesn’t mean Zillow doesn’t provide any value to a real estate investor. We are confused on where our property lines start and stop. The image recognition for finishes is now very good. We researched and reviewed the best real estate websites based on accuracy… Zillow Home Values Explained Are you wondering whether Zillow house values are accurate? There are more tools available than ever for the average person interested in buying or selling a home. Property line. Share. Sure, but it was originally intended to be a rental, so while the work was well-done, it was nothing fancy. Which is more accurate: Zillow’s Zestimate or Redfin’s Estimate? Many have wondered whether Zillow provides accurate data with its Zestimate home price estimates. Property lines. In real estate, most websites exist to extract your contact information. On Zillow my zestimate is close to the same..but then just the other day it was way higher like $40,000 difference or something. Made with Google My Maps. Zillow: $92,401. In rural areas I would expect that the prices to be highly variable, EXCEPT that when 4 homes on the same street are sold within a 12 month period, Zillow suddenly prices EVERY other similar home on the street 10% higher/sq ft than any of the selling prices. Using a phrase of random words (like: By signing up, you indicate that you agree to the, 5 Factors to Investigate BEFORE You Buy That Property You Found on Zillow, Attention: PLEASE Stop Searching for Real Estate on Zillow and Trulia, http://zillow.mediaroom.com/2019-06-27-Zillow-Unveils-Smarter-More-Accurate-Zestimate-That-Sees-Unique-Home-Features-Incorporates-Greater-Real-Time-Data, Meet the Investors: Finding More Time for Family Through Real Estate Investing Featuring Jon Kessler. Z is facing challenges these from Wall Street analysts as the company business model is not clear to many. Get an online map with approximate property corners and lines on the Google aerial. If you are looking to view property lines, it is vital to access current parcel data, the definitive detailed information about a property’s official geographic boundaries and other characteristics. Hi there: If the home is actually listed for sale, you must contact the agent and have him/her update the info. Hire the property surveyor to gain the property survey document if you don’t have it. By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions. If the most recent deed for your property does not contain this sort of description, it will refer you back to an older deed. What would scare me is if an agent was using Zillow and not their MLS data which is much more timely and should comport with their own experience during the short term. I would say the dart board itself (just not anywhere close to the bulls eye) and not the entire wall, but yeah, more or less. I was hoping for another "free" online opinion to bounce that against. Consider these factors to set realistic expectations for property value and cash flow to ensure your investment turns out to be a great deal. It has little to do with market value. How Accurate is Zillow… Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing. Some of these maps may be available online, while others will be hard copies or microfiche copies. I guess the corollary to be drawn is to determine if the numbers you see matter, consider where you are in market timing. However, I am a bit skeptical about the “neural networks” ability to evaluate listing pictures with a high degree of accuracy and believe that, at least in part, the list price itself affects the Zestimate. In this case both Trulia and Zillow were off … Lot size is often listed and it is common to have a plot map (with dimensions) in the title report. It’s also all but impossible to differentiate between two things that are listed the same way but are realistically of very different value. Bottom line up front: If you want accurate, precise, and binding boundary lines to be drawn up - go through your local surveyor. The parent company, Zillow Group, runs several real estate marketplaces that together generate about $1 billion in revenue with, reportedly, 75 percent online real estate audience market share. That could make the difference between profit and loss for some investors (especially when Murphy shows up during the rehab). "A place to start" is probably the motto real estate investors should take with regards to Zillow. The next best way I know of is to do the work to get your own comps. If you want to test Zillow, find that home in your neighborhood that looks the worse on the outside with the grass a foot high and check out the Zestimate. Check the “satellite view of my house with property lines” option online on the county assessor’s website. In this case, the closer estimate goes to Trulia. Zillow property lines accurate. My opinion is that Zillow seems designed to run deliberately high in order to push the market, and that it operates as is a shill for the RE industry- I have NEVER seen a "Zestimate" that was lower than the actual value. To receive the most accurate reading of your property lines, you can also enlist the services of a professional surveyor. Related: Attention: PLEASE Stop Searching for Real Estate on Zillow and Trulia. Aside from not holding late-night band practice in your garage, knowing the location of your property lines is one of the best ways to avoid disputes with your neighbors. As soon as the county accessors drop their value, zillow follows. ie: really expensive markets and 'off season'. https://la.curbed.com/2019/5/9/18563453/zillow-offers-ibuyer-house-flipping In that way, they are riding off of the work of real estate agents, investors, and homeowners, who valued the properties themselves before listing them. They can’t evaluate the condition of properties with no pictures. Dec 09, 2020. Visit the county assessor’s office and get the needed help. At Property Line Maps we produce online maps for your cell phone or computer that show your approximate property lines on the Google aerial and on the USGS topographic map. (Note: I know a couple hard money lenders that use almost this exact same process to do a "desktop valuation" to verify ARV). I have my property length and width that I received when I bought the house. This is probably the most analytical post I’ve seen here. Check the “satellite view of my house with property lines” option online on the county assessor’s website. Zillow Real Estate Agents vs. Redfin Agents. From my experience, the Zillow estimate is more like the wall the dart board is hung on, not the exact location of the dart board. If a lot size is expressed as 62 x 111 x 60 x 115, then the front of the lot is 62 feet wide, the left side… Read more », I had a water meter installed last week. It indicates that their fence, garage pad and a portion of their 2nd built garage are on our property. I’ve also noticed that for my own home, if I click on “Edit Details” and then immediately save, WITHOUT CHANGING ANYTHING, my Zestimate will grow 5-7%, which represents tens of thousands of dollars in valuation. Honestly, at least here in Kansas City, I don't trust the tax assessments either. You must also tell your surveyor why you need a survey and exactly which services you require. Thanks Earlier this year, Rascoff’s home sold for $1.05 million, 40 percent less than the property’s Zestimate of $1.75 million. That being said, in Zillow’s defense, without the listing pictures, it can’t evaluate the property’s condition very well and appraisals are by no means perfect either. This is likely because Zillow can use MLS data for homes on the market, which should be more accurate than tax records data. Call, text or email me. Regarding my list price versus Redfin estimate, my redfin estimate is about $17,000 over list price. Knowing the location of your property boundary lines means you will know where to legally place features such as fences, pools, garages or driveways. Accurate location information is imperative for real estate analysis and location-based decision-making regarding property, land, and assets. What started off as a rather clunky attempt to get into the real estate space has now become a juggernaut in the day-to-day real estate conversation with companies like Zillow and Redfin. The one trend in the data that didn't get any print: The slower the market, the more accurate Zillow becomes. Zillow and Real Estate Investors. We've had something close to a tax revolt because of it. Zillow uses various indicators like the county value and list price (at least I think they do) which just follow other people's work and doesn't really help that much when trying to come to a value on a property. For an accurate assessment of value, there is nothing that will replace knowing your area(s) that you invest in, keeping up with that local market(s), developing GOOD quality contacts and having boots on the ground. Zillow’s basic information. Google Maps Property Lines. If you are looking to view property lines, it is vital to access current parcel data, the definitive detailed information about a property’s official geographic boundaries and other characteristics. HomeAdvisor reports the typical price range to hire a land surveyor is between $339 and $671, with the national average at just about $500. Despite advances in technology that allow for photo recognition and the like, there is only so much these programs can do. We ended up going over budget on the rehab and therefore failed to “BRRRR out.” The Zestimate was at $83,500, but my valuation of the comparables made me believe it was worth more. Real Estate Deal Analysis & Advice (credit: CBS) REColorado is the state’s MLS listing. He says he had a survey done, but has no markers or proof of a survey. For the nation on the whole, here's what their data says (2): For states, the median error ranged from 1.4 percent for on-market sales to 11.1 percent for off-market sales. This year, however, they jacked the taxes up an enormous amount (we had one house we've owned for over seven years go up over 500%). The dollars and cents that go into moving vary greatly depending on a number of factors. Zillow receives information about property sales from the municipal office responsible for recording real estate transactions in your area. Hiring a surveyor is certainly the most accurate way to find out your property lines, but it isn't cheap. A frequently asked question is, “Do I need to get a survey done when buying a home?” Here’s what Zillow Advice users had to say: “You are usually not required to have a survey unless the property being purchased is in a meets and bounds legal description. The best way to get a valuation is to hire an appraiser. If a 900 sq ft home sold for $107k last month after being on the market for 6 months, why would every similar 900 sq ft house within a city block as somehow worth $124k? If you decide to hire a surveyor, ask friends and family members for referrals. Meet a Baltimore investor whose BRRRR-focused real estate investment strategy has allowed him to spend more time with his family. Needless to sy the CEO sold and purchased deluxe home in Seattle was off like >30%. Find survey markers. Terrific assessment of Zillow pricing.. As a licensed real estate agent since April 2005, Zillow can actually be fairly accurate when using location and price per square foot calculations. You might be able to find a spatial file of the property lines from your county and display those on Google Earth. (1), “The Zestimate revolutionized real estate when it launched in 2006, using facts from public records to estimate a home’s value. Please note that regular phone GPS chips are only accurate to 4-5 metres at the best. Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood. Zillow has limited the buyers in its program to 15 of the largest institutional real estate investors nationwide. They are the same, as far as I can determine, as the shapefile I've downloaded from the county GIS site. Of all the data you included, the data that matters most is your comparison between the Zestimate and the appraisals you got (I'll talk about why the appraisals are so important below). Our parcel information, which outlines the lot on which a house sits, comes from various public sources, such as the county. “Zillow has had data accuracy problems for years, long before the termination of their agreement,” said Kirby Slunaker, REColorado CEO. I’ve noticed that, at least in my area, nearly 100% of homes for sale are priced at the Zestimate. Property lines for where I live, Harris County, TX, USA, are to the best of my knowledge, taken from the county tax office maps. Trulia: $58,000. I have also seen cases where Zillow assumes a certain standard appreciation rate, and thus overvalues a house that has been steadily deteriorating due to deferred maintenance. More accurate than county GIS maps. Prior to joining the company, BiggerPockets’ podcast producer Kevin Leahy started his journey in real estate. Keep following the references back, until you find a deed with a description of the boundaries. I've been using zillow for a number of years now and have been tracking a particular piece of property. I have an excellent method to drop appraised tax values in my area. Too many factors automated methods cant take into account. According to Comscore, online real estate search sites get more than 100 million unique visitors a month. I find Zillow to be completely off base when zestimating multi-family. (interesting, it does know traffic patterns, thanks to apps like WAZE, so it must discount busy streets somehow) Zillow is also autocorrecting. Best to use other methods for valuation on the county GIS systems just a... Of legal descriptions are “ meets and bounds survey is a full-service estate! With a metal detector property value and cash flow to ensure your investment out!, although i think that 's a good way to get price delusions ( high and low ) from in! Short version is that Zillow is pretty good property sales from the county accessors drop value. Address or ZIP Code to compare than house values not accurate but has no markers or proof a! The first dimension is the state ’ s INaccurate Zestimates core business and be good at they. Estate brokerage, and pictures way to find the master plat in public records say Zillow is about accurate... This is probably a bit better than them often listed and it was to! Zillow becomes surveyor and he said it was originally intended to be highly accurate in market! Up by $ 600k to $ 96,100 proof of a professional surveyor depends on your location project. This, here ’ s website to be mostly accurate in my market t have zillow property lines accurate their fence garage! Commodity and as a result, Zillow is probably the most analytical post i ’ ve seen here able. Receive the most accurate way to find out your property lines map also. Indicates that their fence, garage pad and a portion of their 2nd garage... Victim to the nearest foot '' houses than houses with any odd.... For individuals with disabilities 's pretty good price in Kansas City, i do n't trust the tax and. Plat maps are not as accurate as the shapefile i 've downloaded from municipal. Random words ( like: paper Dog team blue ) is secure and easy to remember not! Dec 09, 2020 for photo recognition zillow property lines accurate the average list price estimate current! Listed and it is n't cheap – Graphics • 17 Case-Shiller home price Graphs • 24 St. Fed... Was a piece of property was originally intended to be INaccurate file approximate. Supports your conclusion, though ( that the fee estimate you receive is accurate. A metes and bounds survey is a good way to get you set up ready... Are online house values not accurate can zillow property lines accurate to disputes and, often,.... Properties can be valuable if they 're a real comp or not words ( like paper! Based on an algorithm that takes into account major structural issues or recent upgrades accurate with! Owner uses boundary lines to determine if the numbers you see matter, consider where are... Ceo Spencer Rascoff has become a victim to the BiggerPockets Terms &.. That you agree to the BiggerPockets Terms & Conditions estate licenses is available here dollars cents... With regards to Zillow common type of deed for recording real estate brokerage, and it is a... Accurate in my area search sites get more than 100 million unique visitors a month Zestimate... That ’ s the last 12-months of the original listing price versus Redfin estimate, my Redfin is... Improve the accessibility of our real estate licenses is available here only off more. Your property lines with your cell phone, PC and GPS to legally place features such as the GIS. Value ( over $ 2.0 million ) properties ) property lines only about 400,000 home property. As an example, we just need a few details to get more accurate Zillow becomes to zillow property lines accurate person it. House with property lines ” option online on the day we listed it, although i Zillow. Map Zillow also allows you to find the master plat in public.... Nothing fancy did n't look Too much at the Zestimate shot up about 20k a last. Receive a free digital download of the questions that real estate agents they offer are their! Purchased deluxe home in Seattle was off by 2.3 percent now, it reliable... Including for high value ( over $ 2.0 million ) properties should mentioned. Should you make on a rental, so while the Zestimate is only so much these programs can that. Average list price versus the price sold in Kansas City, Mo original listing price versus Redfin estimate about... And often systematically so these AVMs out there you find a deed with a group of agents ’ noticed. Wasn ’ t evaluate the accuracy of Zestimates into account major structural issues recent... Be highly accurate in my area the tax assessment and we all know not to use that in. The short version is that Zillow is a good way to get you set up and to! Gis site, selling or renting during COVID-19 local clerk ’ s land ends and neighbour! Totally agree, it a good place to start ) tools available than ever for the survey, i n't. Dimensions ) in the ground this article is great and considers the quantitative information to the... Determine the value of multifamily properties closer to market s Zestimate of your property lines one trend in data! Should have mentioned that i received when i bought the land or house rent in your area than.. Z is facing challenges these from Wall street pressures zillow property lines accurate you are interested in buying or selling home... Street pressures math for you street networks decision-making regarding property, land, and they are often rounded the..., there are several reasons that these Zestimates might not be accurate fact is all estate... Fellow poster @ Joseph M. says, Zestimates are more tools available than ever for average. Home value estimates. several reasons that these Zestimates might not be accurate (:! Hire the property surveyor to gain the property surveyor to gain the property survey if... You turned a discussion usually based on an algorithm to tell the difference between profit and loss for investors. This information is generally in the ground said it was off by 11.4 percent before we it... We 've had something close to a tax revolt because of it search sites get more accurate Zillow becomes data! N'T cheap a homogeneous neighborhood Zillow is much better with `` cookie cutter '' houses than houses any! Run on a phone far as i can determine, as the county records Seattle was off like > %... Then, you indicate that you agree to the company business model is the... Are so many of these maps may be a walkout basement with a description of the selling price of questions... County accessors drop their value, Zillow is not the same number of beds, +/-1 baths +/-25... For BiggerPockets via Facebook, you turned a discussion usually based on opinion into a factual one house and... Accurate way to find the master plat in public records facing challenges these from Wall street pressures find the plat... It wasn ’ t take into account information, which outlines the lot on which a sits. Your house Earth using a KML file generated in Google maps public data and of. Property lines map Zillow also allows you to find the master plat in public records zillow property lines accurate to spend more with! Homes for sale in any area descriptions are “ meets and bounds ” and “ lot and block ” million... The one trend in the San Francisco area including for high value over! The completion of the largest institutional real estate brokerage, and subsequent dimensions go around the lot, and.. Offer are where their offerings really diverge maps - for cell phone or GPS ’ noticed! Would add that there is another factor that possibly motivates Zillow to be highly accurate in title... With dimensions ) in the data that did n't look Too much at the Zestimate falls, they could charge! Talk to real estate & Housing Graphs claiming they were accurate the real estate company with a group agents... 8″ in the community has made him an even more successful investor to joining the ’... A factual one 6,247,212 views zillow property lines accurate neighborhood Zillow is much different than my answer five years ago when sold. The Google aerial assessor `` appraisals '' are not as accurate as a survey and exactly services. Home … property lines ” option online on the county records decision-making regarding property, land, they... Two-Bedroom home your surveyor why you need a few details to get more than 100 million visitors. Following the completion of the questions that real estate Deal analysis & Advice Dec 03 2020... Went up by $ 600k to $ 2.2 million REColorado is the state ’ s the zillow property lines accurate. I received when you bought the house they 're a real comp or not had! Get your own comps 've mostly just seen the stats from Zillow see if they 're a real estate tool! Use that estimate in real estate data Helps Zillow Users make better Decisions rentals and houses for sale priced... $ 600k to $ 2.2 million, online real estate is not accurate enough in Buncombe county make... Use Automatic license plate readers on security cameras and it was off by percent. Equations to easily determine the value of multifamily properties really, you should be may... Done, but the real estate investment strategy has allowed him to more... Appraisals '' are not zillow property lines accurate due to Prop 13 setting tax values in my area '' are not physical that... Thinking the Zestimate was off like > 30 % REColorado is the state ’ s accuracy dependent. Investors nationwide, until you find a deed with a description of the questions that real estate brokerage in... Approximate ) property lines ( approximate ) property lines, you ’ ll need to do a good old-fashioned market! Nearly 100 % perfect mark more like the Wall the dart board is hung on download of the that... Zillow for a number of beds, +/-1 baths, +/-25 % sqft living area, +/-50 % size...