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kleinbl00  ·  2513 days ago  ·  link  ·    ·  parent  ·  post: Zillow faces lawsuit over ‘Zestimate’ tool that calculates a house’s worth

As someone who probably compares four or five homes' closing prices with their Redfin estimates every week, the litigant is correct: Zillow is a crack smoker. Something they don't tell you in the article is that the "Zestimate" bounces around a lot - whatever their proprietary blend of herbs and prices is, it's a lot more variable than the market would indicate.

https://www.redfin.com/blog/2017/02/redfin-estimate-accuracy.html

    Zestimates are within 5 percent of the sale price 53.9 percent of the time, within 10 percent 75.6 percent of the time and within 20 percent 89.7 percent of the time, Zillow claims.

20 percent is more than the amount being litigated over.

That said, appraisals are official legal tools used for assessing property taxes and equity for mortgages and such, not informal tools for market pricing. I suspect this suit will be dismissed on merit.