We've received a lot of questions lately from home sellers about Zillow's Zestimate feature. Here's what it means for you as someone buying or selling a property.
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We've listed a whole lot of homes recently and have noticed that a lot of sellers have questions about Zillow's Zestimates. The Zestimate is Zillow's tool for estimating home values.
We've listed a whole lot of homes recently and have noticed that a lot of sellers have questions about Zillow's Zestimates. The Zestimate is Zillow's tool for estimating home values.
The real estate giant Zillow.com even admits that these Zestimates are at least 10% off in most markets. In fact, Zillow CEO Spencer Rascoff himself sold his house for something like $1 million less than the Zestimate of his house a few years ago!
Even Zillow admits that their Zestimates can be off by 10% in most markets.
Don't concern yourself too much with this number—it's just a computer in Washington state that takes data from other computers to try and calculate what your home is worth. What you really need is a real estate professional who knows your market, knows the neighborhood, and knows the buyers in the area to come by your home to tell you what it's worth.
Of course, there will be a range of prices depending on any improvements you've made in the house, what your yard looks like, and whether you're on a lake, for example. Some of Zillow's biggest whiffs are on the value of a lake home.
If you'd like to know what your home is worth, I encourage you to give us a call so we can come out and tell you what it's worth for when you decide to sell. We'd be happy to help you!
