People have a lot of questions about Zillow’s Zestimate tool. They want to know what it is, how it works, and whether it’s accurate.
First, what is a Zestimate? A Zestimate is an estimated home value provided by Zillow. It is not an appraisal, nor is it an accurate home evaluation.
Zillow determines values using a computer algorithm. Data such as location, lot size, square footage, and more are taken into account, but Zestimates ignore a number of other factors.
“A Zestimate is not an appraisal, nor is it an accurate home evaluation.”
Zestimates often give a home value that is either too high or too low. Let’s look at the example of a home I helped sell last year. The Zestimate was $188,000, but the home actually sold for $209,000.
Even Zillow recommends doing additional research beyond using their Zestimate tool to determine your property’s true value.
If you’re a seller, it’s important to be proactive in preparing your home for the market. If you want to determine your home’s true value, you’ll need to get in contact with your local real estate expert.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
