The purchase price should hold for assessed value a couple of years at least, then it begins to shift based on an algorithm of recent, local sales.

Http://www.zillow.com/zestimate/#accProgramming algorithms based on skewed data.

The reason the estimates are so off on Zillow comes down to a matter of data completeness, and the algorithms used to select the right combinations of proximity, date sold, features, financing method, etc.

Since we are owner-occupied we have a lot more leeway in being selective with our tenants; but just for fun and kind of to standardize what we felt made a good tenant we created this algorithm.

I algorithmly have or understood niche you wrote.

CL has allowed there algorithm to be inundated by hackers, spammers and scammers and is like a rattlesnake lying in wait to strike its prey.I just put one of my surfboards up for sale recently and within minutes I had a handful of responses telling me that it's just what they've been looking for and they wanted to buy it site unseen immediately.

For what its worth, my opinion of Zillow is as follows:If I look at Zillow and it shows something drastically different than what I am planning, I consider this a decent indicator that my estimate may be worth further evaluating.Zillow uses some very advanced algorithms to determine value that can not be ignored (as much as people want to). 

@John HalliganLove the gunslinger mentality but you need some eyes on this thing amigo.I imagine the Zestimate is so high because the algorithm is pulling comps in a quarter or half mile radius thus those Shaker homes are pulling it up.I am going to assume this house is beat to hell and even if it wasn't it wouldn't be worth 66k.

It is far outweighed in the scoring algorithm by other positive factors, and it will shoot back up in a short time.Your lost utility bill, like an unpaid parking ticket that shows up in your credit profile, will not keep you from being approved for a loan.

Amy Bates the HUD process is automated and algorithm driven.