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Answers (2)
- SoCal_Engr
- Contributions:5661
@ ThedaBarret...
You're right. Zestimates are a "best guess", based on an algorithm and available data. And, anyone would be crazy to take a Zestimate as gospel.
But, CMAs are also "best guesses", and the value of "best" is based on the experience and capability of the REA generating the CMA. And, if the REA has any conflicting motives, those could skew the CMA (intentional or otherwise).
And, an appraisal is really an arms-length guess at value, but focused on just one house vice trying to shoehorn all houses into one algorithm.
It's really just a matter of perspective. They all have their inherent limitations, but value when used in context.
You're right. Zestimates are a "best guess", based on an algorithm and available data. And, anyone would be crazy to take a Zestimate as gospel.
But, CMAs are also "best guesses", and the value of "best" is based on the experience and capability of the REA generating the CMA. And, if the REA has any conflicting motives, those could skew the CMA (intentional or otherwise).
And, an appraisal is really an arms-length guess at value, but focused on just one house vice trying to shoehorn all houses into one algorithm.
It's really just a matter of perspective. They all have their inherent limitations, but value when used in context.
- Candace Camacho, "CandaceCamacho"
- Contributions:418
Hi ThedaBaret,
Here is some information about our Zestimate Improvements.
This link right here will show you how we get our Zestimate data and we don't just take a wild guess.
I hope this answers your questions. Have a wonderful day.
Here is some information about our Zestimate Improvements.
This link right here will show you how we get our Zestimate data and we don't just take a wild guess.
I hope this answers your questions. Have a wonderful day.
A +33% change in value just because you "improved" your algorithm? Translation: you publish guesses.
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