• Report: #1125838

Complaint Review: Zillow

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  • Submitted: Sun, February 23, 2014
  • Updated: Sun, February 23, 2014

  • Reported By: Lotus — Johnston County North Carolina
Zillow
1301 2nd Avenue F1 31 Seattle, Washington USA

Zillow Ready to file a class action suit against Zillow Seattle Washington

*General Comment: zillow made us lose over 20,000 on house

*Consumer Comment: Federal Trade Commission

*Consumer Comment: Zestimates don't match tax assessment

*Author of original report: You're wrong, period

*Consumer Comment: Try looking your home's value up on your county assessors website..

*Consumer Comment: Really?

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Please leave a response to this if you are interested in filing a class action lawsuit against Zillow.  The more people we gather, the more likely an attorney will take the case.  Zillow is a paper game, solely as a revenue producer for their stockholders and their CEOs. Their "zestimates" are grossly under the real appraised values of homes.  They even at one point listed my home in foreclosure beause the Deed of Trustees had changed (not by me!).  I have and had never even been late on a payment in the 7 years we've owned this home.  In summer of 2013, we refinanced our home.  We felt we had enough equity to avoid PMI, so Citi sent an appraiser at our cost to get a formal appraisal on the home.  It was in the best interest of Citi to have the home worth less, so we would be required to pay PMI, but this appraiser was a certified, experienced appraiser who did it by the book.  Our home was appraised at $129,000.  The original purchase price was $114,000.  Zillow had the value of our home listed as much lower than that, and has continually dropped the value since, now "zestimating" it at $111,000.  I have complained multiple times, but they state their evaluations are based on an algorithm.  Let's put it this way.  You can find a good recipe, but if you put all the wrong measurement of ingredients into the mixture, you're going to get a cake that taste terrible and flops.  Since they make their money off of shareholders and realtor advertising, it doesn't behoove them to get anything correct, just do what it takes to entice both.  The interesting part is that both the appraiser and every realtor I've spoken to rolls their eyes when I bring up Zillow and agree that their "zestimates" are grossly inaccurate. If an individual hurt someone financially by doing something wreckless, they'd wind up in court.  And since the Supreme Court has mandated that Corporations are people, then doesn't Zillow belong in court with a lawsuit so large that it takes them down?  That is the only way it will deter other companies from such unethical practices.  We have a responsibility as a global community to bring companies down that don't play by the rules and in turn, hurt a large amount of people.  Regardless of all the complaints by consumers, Zillow refuses to examine and reevaluate their algorithm because it pays not to.  Time to make it pay.


This report was posted on Ripoff Report on 02/23/2014 06:50 AM and is a permanent record located here: http://www.ripoffreport.com/r/Zillow/Seattle-Washington/Zillow-Ready-to-file-a-class-action-suit-against-Zillow-Seattle-Washington-1125838. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
1Author 5Consumer 0Employee/Owner
Updates & Rebuttals

#1 General Comment

zillow made us lose over 20,000 on house

AUTHOR: Dee - ()

Zillow caused us to lose $15000 to $20000 on our house.
Zillow is appraisng houses without ever stepping foot inside.Zillow is causing realtors now to use zillow as a guide to determine your houses sale price.ZILLOW IS CONTROLLING THE MARKET AND REALTORS LIKE IT BECAUSE THEY DO LESS WORK!
Zillow compared my house to houses that were in BAD areas and that made our house lower in the zestiment.
My house was in one of the best areas and got compared to crime infested areas.Zillow has NO right to do this.
Zillow is telling buyers what a house is worth and what it should sell for.This should not be allowed.
Zillow compared my house to ones that had no updates causing the value of mine to be much lower.
Yes zillow gives you a spot to put something to add updates and increase value,BUT IT WOULD NOT INCREASE THE VALUE OF MY HOUSE!!!!!!!!!!!!!
That $15000 to $20000 we lost would have made a big difference in our lives.
This didnt just happen to us,it is happening to anyone and everyone who has a house for sale.
Why is zillow being allowed to determine what the market is.I say everyone in this boat come together and lets sue zillow.

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#2 Consumer Comment

Federal Trade Commission

AUTHOR: Misled - ()

 I would encourage everyone with a legitimate complaint with this company to file a report with the Federal Trade Commission. If the government gets enough complaints they will have to pursue action against this company.

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#3 Consumer Comment

Zestimates don't match tax assessment

AUTHOR: Misled - ()

 This rebuttal shows that Zillows zestimates match the county assessors tax assessment which is incorrect. I just spoke with a Zillow representative today and explained to him that your zestimate is approximately $10,000.00 less than my assessed value which I have a copy of. He said it didn't matter Zillow won't update their information. Sign me up for the class action lawsuit!

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#4 Author of original report

You're wrong, period

AUTHOR: Katie P. - ()

That's part of the problem with Zillow.  People there also don't know how to read.  I didn't say it affected my refinance, so read my complaint again. I also get my property value from the county every year and pay attention to it and it has gone up in value two years in a row.  Zillow has continually made mistakes and has claimed that my house has gone down in value.  AGAIN, I didn't say you affected my refinance.  What I said was that I had a formal appraisal done as part of the refinance process and the value of my home has gone up considerably, not down below what I paid for it in 2006, which is what you are now showing.  I have emailed you on several occasions and each time it is clear to me that you can't understand my complaint.  I can't explain it any more clearly.  I am being precise and to the point, so it seems to me the desire is not to understand it.  As far as benefiting Zillow?  Realtors will get lots of calls on properties if they think they're getting a great deal. Your stupid Zestimates give the public the impression that you can buy a person's house for below the real market value.  Let me say it a third time, since you guys have trouble comprehending simple English.  I did NOT say your zestimate affected my refinance.  Got it now?  Tired of dealing with you guys.  I wrote this complaint to find others who want to join a class action suit, not get B.S. responses from a company that has already gotten in legal trouble.

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#5 Consumer Comment

Try looking your home's value up on your county assessors website..

AUTHOR: Ken - ()

Be careful to read the assessed value before a percentage is taken for tax purposes.  Come back here and post that information.  If you have the property tax assessment you received this year for 2013's taxe, you can find that information on it. BTW, you can also look up neighbors homes similar to yours and compare assessments. You haven't done ANY of this, have you?

You can't just allege that Zillow's assessment is wrong because YOU want it do be more.  Unless you're an experienced appraiser, you don't have a case.

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#6 Consumer Comment

Really?

AUTHOR: Robert - ()

 So please explain in your infinite wisdom how it benefits Zillow to "underestimate" the value of a house?

Because you state that their business model is based on realtor advertising, yet every realtor you talked to "just rolls their eyes" because they know the "zestimate" is grossly inaccurate.   You do see the problem with your claims...don't you?

Then please explain what proof you have that you were denied the refinance strictly because Citi used Zillow's estimate rather than the apprisers.  I would love to see you scan your denial letter that says since zillow estimated your house lower you don't qualify.

Oh and as for their "zestimates"..I personally like them.  I just checked it for our house and it shows our house is worth 90K more than we paid for it just a few years ago.

 

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