Buyers and Sellers: Don’t Trust Zillow’s Zestimate Feature

    Many people are curious as to whether Zillow’s Zestimate feature is a good way to determine home value, so today I thought I would share some insight into this question.

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    I got an email recently from someone who was curious about whether Zillow’s Zestimate feature is accurate, so today I thought I’d answer this question for any of you who might be wondering the same thing.

    The first thing I’d like to point out is that, within their own disclaimer, Zillow indicates that its Zestimates may be between 15% and 20% off of a given property’s true market value. When you’re talking about home listings, this could be a difference of tens of thousands of dollars.

     

    While Zillow can be a great resource in other ways, its Zestimate tool is definitely not a reliable source for determining home value.

     

    This means a home Zillow values at $200,000 could actually be worth $240,000 or $160,000. In other words, while Zillow can be a great resource in other ways, its Zestimate tool is definitely not a reliable source for determining home value.

    If you have any other questions, would like more information, or want to know how I can meet your real estate needs, feel free to give me a call or send me an email. I look forward to hearing from you soon.

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