Magician, I know enough about the outer results of Zillow. I've been studying my local market for months. There are not dozens of useful variables in the public record. Exactly where does one go look up the insured valuation for a property? But I can see how private valuation could be done more accurately.

Put it to you this way, none of the financial institutions I have ever negotiated with (dozens, I like that word) will take an automated valuation as a substitute for a live appraisal.

 

Nor does that surprise me.

It is not, however, prima facie evidence that automated valuations are inaccurate; it probably says more about those financial institutions.

(Recall how long it took Ferrari to adopt disc brakes; does that say something about disc brakes, or something about (Enzo) Ferrari?)

 

that's funny; it's about $100,000 OVER what my actual property value is. I'm in Albuquerque, NM. My house's actual value is around $280k. Zillow.com included a $2.1 million home in my comps...?? WTF?