How Accurate is Zillow in your Home Evaluation?

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As a real estate professional I constantly get bombarded by "Why is Zillow's price different"
When we go on Zillow's website, this is their explanation

"The Zestimate® home value is Zillow's estimated market value for an individual home and is calculated for about 100 million homes nationwide. It is a starting point in determining a home's value and is not an official appraisal. The Zestimate is automatically computed three times per week based on millions of public and user-submitted data points."

To make it more understandable when a hoem is estimated to have a value of  at $500,000 and the ZESTIMATE is off by 10% that's a difference of $50,000!
So if the house is under priced you are missing out on thousands of dollars. By the same token if it is OVERPRICED by 10%  you are missing out on the market, by stting a awhile and then having to drop the price, making the buyers wonder what's wrong with the house, when in fact there is nothing wrong.

It has been estimated that Zillow's home estimates are accurate only 7% of the time, which means that 93% of the time they are wrong! Not a great success rate.

Take mine for instance. for 2014 and 2015 I have personally marketed 15 homes each year, with no expirations, no price reductions and got 97.5 % of List price to sales price when the average is 94%.





Remember Zillow does not take features, updates on your property and compare them to the closed homes in your area. Even though doing those gives you a more updated value on your property.
Zillow does not walk through your home, look at all your unique features, upgrades and place an accurate current value.

Ultimately when you want the most accurate price for you home, make an appointment with a real estate professional like me. I will go over your home and local market data in order to give you the most accurate home value.

When you are interested in a home valuation, or have questions, give me a call, text or email. I look forward to hearing from you.