Why Zillow is Often Wrong

Posted on Posted in Selling a Home

go site Sometimes I hear crazy numbers from clients about their home’s value. The reason? “Zillow says…”


http://yachtchartergroup.com/?x=how-to-get-viagra But even Zillow admits that their Zestimate is an approximation. Consider this description of their valuation model, taken from the Zillow website itself:


http://toolsforwriters.com/?x=new-female-viagra-drug-company “The Zestimate (pronounced ZEST-ti-met, rhymes with estimate) home valuation is Zillow’s estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home’s value. The Zestimate is pulled from data; your real estate agent or appraiser physically inspects the home and takes special features, location, and market conditions into account. Variations in price also occur because of negotiating factors, closing costs, and timing of closing. We encourage buyers, sellers, and homeowners to supplement Zillow’s information by doing other research such as:

here * Getting a Comparative Market Analysis (CMA) from a real estate agent

enter site * Getting an appraisal from a professional appraiser

follow * Visiting the house (whenever possible)

buy viagra internet * Creating your own estimate using the My Estimator home valuation tool”

http://cinziamazzamakeup.com/?x=acquistare-cialis-con-paypal So even Zillow admits that their Zestimate is only “a starting point in determining your home’s value.” They do not know about the granite countertops, view, or other factors that affect your home’s desirability. And desirablity does not fit into a mathematical formula. It takes someone who is actively working in the marketplace to accurately value your home, a computer just can’t do it.