And The Zestimate Says

Dated: 02/17/2015

Views: 496

And the Zestimate Says??……

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Zillow is one of the most popular sites that potential home buyers use to begin looking for their next home. If you have ever taken a look at Zillow, you have probably noticed that thing called a Zestimate. A Zestimate is a home valuation that estimates your home’s market value. Zillow claims that each Zestimate is computed automatically three times per week and is based on millions of public and user-submitted data points. Although they claim it is a “secret formula” and are not forthcoming on where this information comes from exactly. A Zestimate home valuation is merely an estimate of your home’s market value. It should never be mistaken for an actual appraisal and it is really just a starting point for figuring out a home’s value. Zillow is a great tool for beginning your home search. It gives you tons of information about homes, their past sale’s histories, the school districts that they are in and neighborhood information. It is a great way to connect buyers with real estate agents who specialize in the neighborhoods that they are looking in. Just remember to not take anything that you see on Zillow as the end all truth. The best way to get a home’s value is to speak with an agent and let them provide you with a free comparative market analysis for the home. This involves looking at what similar homes have sold for in the past six months within a one mile radius. Many things go into determining a home’s value besides just comparing the past neighborhood sales. Some of these things are improvements that have been done to the home, the age of the roof, AC and furnace, the school district that a home is in, the number of bedrooms and baths, the age of the home etc. It’s always best to start out on Zillow but then to let an expert point you the way to better and more customized tools for you!

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If you are already a home owner and you disagree with what your Zestimate says, you can get it changed. All you have to do is contact a real estate agent and ask them to provide you with a comparative market analysis. The agent can then submit the report to Zillow and request for your Zestimate to more accurately reflect the market conditions in your neighborhood. This is a good step to take to get your home ready to sell. Sometimes it can be hard for buyers to understand why your home is priced at $350,000 and your Zestimate says it is only worth $320,000. This can be one less bump in the road when you are ready to put your home on the market since Zillow is one of the main ways that buyers will be able to see that your home is for sale. If you disagree with your Zestimate, contact me today and we can take steps toward getting it changed.

And one funny little tidbit that I recently ran across…..

This is how you see your house….

926 mercer

This is how an appraiser sees your house….

appraiser house

And this is how the tax assessor sees your house!!

tax accesor house

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