Zestimate is gone on Zillow. Is there a similar reliable tool?

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Zestimate is gone on Zillow. Is there a similar reliable tool?

Ryan Jenkins
Rental Property Investor · Kansas City, MO · Member since 2019 · 44 posts · 17 votes

I once used Zillow for a quick estimate to calculate ARV for wholesale deals. Is there another quick easy to use reliable system out there?

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Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
1y

You lost me when you used the words "quick", "analysis", and "real estate investing" in the same paragraph. The words "quick" should be tossed out the window.  Quick means lazy, and lazy means inaccurate. 

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  • Denise SuppleeBusiness Member
    Realtor · Willow Grove, PA · Member since 2017 · 1k+ posts · 662 votes
    1y

    Hi @Ryan Jenkins Try Redfin or PropStream for more detailed comps, I use Propstream a lot, its very user friendly and pretty accurate.

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  • Ryan Jenkins
    OP
    Rental Property Investor · Kansas City, MO · Member since 2019 · 44 posts · 17 votes
    1y

    Hi @Denise Supplee, Thank you! I’ll give them both a look. Very much appreciated.

    0Reply
  • James McGovern
    Flipper/Rehabber · Bloomfield CT · Member since 2020 · 1k+ posts · 409 votes
    1y

    Recommend using Redfin 

    1Reply
  • Don KonipolBusiness Member
    Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
    1y
    Quote from @Ryan Jenkins:

    I once used Zillow for a quick estimate to calculate ARV for wholesale deals. Is there another quick easy to use reliable system out there?

    Realtor.com is just as UNRELIABLE as any of them. LOL 
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    5Reply
  • Ryan Jenkins
    OP
    Rental Property Investor · Kansas City, MO · Member since 2019 · 44 posts · 17 votes
    1y

    Hi @James McGovern. Thank you!

    2Reply
  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    1y

    You lost me when you used the words "quick", "analysis", and "real estate investing" in the same paragraph. The words "quick" should be tossed out the window.  Quick means lazy, and lazy means inaccurate. 

    7Reply
    • James McGovern
      Flipper/Rehabber · Bloomfield CT · Member since 2020 · 1k+ posts · 409 votes
      1y

      @Joe Villeneuve quick simply means not having to jump through hoops to find an answer 

      3Reply
    • James Hamling
      Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
      1y
      Quote from @James McGovern:

      @Joe Villeneuve quick simply means not having to jump through hoops to find an answer 

      When I had my last surgery the surgeon said "Ah, should have you in-n-out in no time" I stopped him and said "No no no, you take all the time you need!" lol. 

      For some things, fast is not a good thing. 

      1Reply
  • Aaron ZimmermanBusiness Member
    Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
    1y

    Redfin for sure. I find it's probably a touch high though 

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  • Michael K GallagherBusiness Member
    Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
    1y

    I'd agree on the prop stream, its pretty solid as far as pulling sales in the area, and then its up to you to run the comps based on the data available. They do have an estimate they give but to some other points here if you are doing this for an ARV you'll want to be more detailed and nuanced than any of that.

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  • Ryan Jenkins
    OP
    Rental Property Investor · Kansas City, MO · Member since 2019 · 44 posts · 17 votes
    1y

    Hi @Michael K Gallagher. I appreciate the direction. Thank you

    0Reply
  • Ryan Jenkins
    OP
    Rental Property Investor · Kansas City, MO · Member since 2019 · 44 posts · 17 votes
    1y

    Hi @Aaron Zimmerman. Thank you!

    0Reply
  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    1y

    @Ryan Jenkins 

    The "Comps" in my screen grab is SOLD houses from last 3 months. We look at the photos, layout, location, and start eliminating outliers to create my estimated ARV. Zillow/Redfin is never going to do that for you. Run your own numbers or leverage an agent to run a CMA.

    4Reply
    • James Hamling
      Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
      1y
      Quote from @Jaron Walling:

      @Ryan Jenkins 

      The "Comps" in my screen grab is SOLD houses from last 3 months. We look at the photos, layout, location, and start eliminating outliers to create my estimated ARV. Zillow/Redfin is never going to do that for you. Run your own numbers or leverage an agent to run a CMA.

      5-stars Jaron! Your doing it dang good. 

      1 suggestion; 

      Do an additional one looking at comps 91-180 days and a 3rd one taking 181-365 days. 

      By comparing the 3, you will get a sense of the market vectoring (direction & magnitude), to help get a better sense of things for forward casting. 

      It's great to know what something worth today, but critical to accurately peg range of what it will be worth down the road. And remember, descending markets are back, so gotta be looking out for that. 

      1Reply
  • Ryan Jenkins
    OP
    Rental Property Investor · Kansas City, MO · Member since 2019 · 44 posts · 17 votes
    1y

    Hi @Jaron Walling. This is great. Thank you!

    Did you acquire your real estate license? I’m curious how you’re getting comps without it?

    0Reply
    • Dan H.Pro Member
      Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
      1y
      Quote from @Ryan Jenkins:

      Hi @Jaron Walling. This is great. Thank you!

      Did you acquire your real estate license? I’m curious how you’re getting comps without it?

      In addition to the tools already mentioned there is PropertyHub and Pennymac.

      Use the tools to get potential comps.  Eliminate the poor comps to derive your own valuation.

      The 2nd to last offer I made had a very different valuation from Pennymac than the other tools I use.   In this case pennnymac was wrong, but sometimes the outlier is correct.  I was able to determine why the Pennymac value was so off as I eliminated many of their potential comps for a single reason.

      Do not rely on the tools’ estimate.  Especially do not rely on a single tool’s estimate.


      good luck

      1Reply
  • Izaiah Barba
    Wholesaler · Portsmouth NH · Member since 2019 · 222 posts · 97 votes
    1y

    Hey Ryan, we use propstream and privy. We are also working a new start up that comps with AI and automates it. Dm me and I would be happy to share the details!

    1Reply
  • Mark Turner
    Investor · Rochester Area, NY · Member since 2012 · 104 posts · 18 votes
    1y

    Zestimate was never a reliable method of evaluating property.  

    Back in 2018 it was "Zestimating" a lake front property of mine at 1/2 the price.  I contacted Zillow and they explained it took the average of sale/sold prices in the community not weighing other factors.  It may have changed since then, but If I wanted to  get a quick value now...I'd go to recent sales (also in Zillow).

    Better yet, go to your county/city/town website, they typically have records of this.

    2Reply
  • Amy Pfaffman
    Member since 2018 · 76 posts · 15 votes
    1y
    Quote from @Ryan Jenkins:

    I once used Zillow for a quick estimate to calculate ARV for wholesale deals. Is there another quick easy to use reliable system out there?


     I don't understand. I'm still seeing Zestimates on Zillow.

    1Reply
  • Ryan Jenkins
    OP
    Rental Property Investor · Kansas City, MO · Member since 2019 · 44 posts · 17 votes
    1y

    Hi @Mark Turner. Thanks for breaking down your experience. Very helpful. Thank you!

    0Reply
  • Ryan Jenkins
    OP
    Rental Property Investor · Kansas City, MO · Member since 2019 · 44 posts · 17 votes
    1y

    Hi @Amy Pfaffman. I noticed some Zestimates. But often it’s not listed. I haven’t looked to see if it makes a difference, but I often narrow my search criteria to listed by owner.

    1Reply
    • Amy Pfaffman
      Member since 2018 · 76 posts · 15 votes
      1y
      Quote from @Ryan Jenkins:

      Hi @Amy Pfaffman. I noticed some Zestimates. But often it’s not listed. I haven’t looked to see if it makes a difference, but I often narrow my search criteria to listed by owner.


       Now I thought THAT was something they were ending: FSBOs. That's great if you can still do that. As for me, I'm just tracking the value of my existing properties, however bluntly. I get regular emails with updates on the value from Zillow, and I use those to update my spreadsheet that tracks everything about my investment properties.

      0Reply
  • Sean Martin
    Member since 2021 · 39 posts · 29 votes
    1y

    It’s not the best option. But another vote for Redfin here in terms of quick options. Of course, you’ll want to pull comps to get an accurate estimate. But I just had an appraisal done on one of my rentals and the Redfin estimate is a within $3,000 of the appraised value! I thought that was pretty cool. 

    1Reply
  • Ryan Jenkins
    OP
    Rental Property Investor · Kansas City, MO · Member since 2019 · 44 posts · 17 votes
    1y

    Hi @Sean Martin. Just what I’m looking for. Thanks for confirming.

    1Reply
    • Sean Martin
      Member since 2021 · 39 posts · 29 votes
      1y
      Quote from @Ryan Jenkins:

      Hi @Sean Martin. Just what I’m looking for. Thanks for confirming.


       My pleasure! 

      0Reply
  • Amanda JacobellisBusiness Member
    Real Estate Agent · Southern California · Member since 2020 · 96 posts · 43 votes
    1y

    @Ryan Jenkins Realtors will do a detailed analysis for your for free (If you are working with them). Find a local realtor. The Zestimates and Redfin estimates are purely based on data like square footage and bedroom count but have no way to account for many things like, views, weird layouts, wierd lots, dark rooms, low ceilings, proximity to things (like being next to a liquor store etc etc. These are real things that affect value because the affect buyer emotions so better to have a professional run the comps for you! 

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    1Reply
  • Ryan Jenkins
    OP
    Rental Property Investor · Kansas City, MO · Member since 2019 · 44 posts · 17 votes
    1y

    Hi @Amanda Jacobellis. Thanks for taking the time to share your experience! Just what I’m looking for.

    1Reply
  • Ryan Jenkins
    OP
    Rental Property Investor · Kansas City, MO · Member since 2019 · 44 posts · 17 votes
    1y

    Hi @Dan H., I checked both sites out. Pennymac looks to be a great starting point when scanning for potentials prior to comps. Thanks again!

    0Reply
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