BuyerSellerVideo September 26, 2019

Is Zillow Accurate? How Accurate is Zillow Zestimate?

Is Zillow Accurate?  How Accurate is the Zillow Zestimate?  Is Zillow Legit?

Is Zillow Accurate?  How Accurate is the Zillow Zestimate?  Is Zillow Legit?  Have you used Zillow before?  What did you think of it? Comment below ↡

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In February 2016 the CEO of Zillow Spencer Rascoff, CEO of the Seattle-based real estate media website, sold his home in Seattle’s prestigious Madison Park neighborhood, and for $1,050,000. That was 40 % less than the Zestimate of $1,750,000. 

 If Spencer can’t get the zestimate right, why do you think that we can? 

 Why the difference?  Really, it’s because a zestimate is a computer algorithm.  It is a collection of both public and user information. Because these are computer based values, Zestimates also can’t take into account things that are considered “non-quantifiable facts,” such as layout, renovations or lighting, and these facts can have much more of an effect on the values of luxury homes than less expensive properties.  Too many factors go into an analysis for specific homes to use an algorithm ONLY. Zillow is great to learn about homes for sale in a specific neighborhood or a starting point to look for homes for sale. They are not great for determining a homes value. If you are looking to sell your house you need to contact a local agent to perform what we call a Comparative Market Analysis or CMA to determine the Fair Market Value.  Even then without taking a tour of your home and seeing the inside and the outside, and agent can’t determine an exact value. 

Does the Zillow Zestimate affect both buyers and sellers?  Yes

If you are buying a home, do you know if you want to purchase a home with a HOA or not?  ↠Check out this video that will help 


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