Zillow's Zestimate vs. Reality
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Zillow's Zestimate vs. Reality


Zillow's Zestimate vs. Reality

At the Linda Filby Team, we understand the importance of knowing the true value of your home. While Zillow’s ‘Zestimate’ can be a helpful starting point, it may not always reflect the actual market value of a property, and here’s why:

  • Outdated or Missing Information: Zillow mainly uses public data like tax records, which might be old or not contain all the details. This can make the estimates erroneous.
  • Computer Guesswork: Zillow’s ‘Zestimate’ uses computer programs to determine home prices. These programs are smart, but they need more data points concerning home differences and unique characteristics.
  • Changing Market: The housing market changes constantly, for instance, how many people are looking to buy homes or what’s happening locally in the market. ‘Zestimate’ might not keep up with these quick changes, so the price might not match what the house is worth.
  • Wrong Info from Owners: Zillow’s guess can be off if homeowners provide the wrong details about their property, like its size or how many rooms it has. The’ Zestimate’ can become old if this information is updated infrequently.

A competitive market analysis, or CMA, is one of the most effective ways of evaluating a home’s market value. We offer a detailed and complimentary market analysis to provide accurate home valuations, which are vital for those thinking of selling.