My question is, how accurate is zillow? Have you guys found that it usually comes close to actual appraisal value? Just hoping that appraisal goes ok, and if zillow is right it will.

Thanks!

All they have is data on prices and location to judge comps.
I live in an infill development of about 40 houses surrounded by much smaller and less expensive ones.

The Zillow prices are always way off.

The older houses in the area get knocked down to build houses comparable to my development.

We sold a couple of years ago, at a higher price than their zestimate, as we had a prime lot plus had remodelled, and nice, mature landsaping. Same model, several houses down sold 20% less.

It was on the opposite side of the street (no view) and had original flooring, cabinets, appliances etc. not much curb appeal either!

Buyers do take everything into consideration.

The "neighborhood" is based strictly on proximity, nothing else.

If they hit the correct number it is as much by accident as intent.

I don't think that is fair. If you live in an average house, in an average area, with lots of recent sales, then the averages zillow kicks out will be pretty close to your home's value. That is just how averages work.

If you neighborhood has a wide range of house sizes, lot sizes, renovations, etc or if your immediate neighborhood is substantially different from the surrounding neighborhoods, then that "averages" don't make much sense to look at. Basically, by definition, if your house isn't average, then the average price doesn't apply.

Zillow makes no attempt to actually figure out what are reasonable compos except they are located near each other.

Its attempt to value a particular property is just a crap shoot.

I would call that an accident.