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Comparable Home Estimate

There is a house across the street from mine on a smaller lot and the Zillow estimated value is $60K highter than mine. How does that work?
  • June 17 2014 - Civano
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Answers (2)

Zillow's "Zestimate" is not considered accurate or used by those in the Real Estate industry, it is more of a ballpark guess.  Even their own fine print states it may be off as much as 20% and to consult a local Realtor.  I have seen Zillow "Zestimate" value all over the place, I currently represent a listing at $412,990 while the Zillow "Zestimate" is $747K.   You can claim your home and edit the home facts, but again it is Zillow's own calculations they use and not all their data is correct in making those calculations either.

If you really want to know, a local Realtor can provide a CMA for you.  You can look at the past sales out in Civano as well.  A home owner can also pay for an appraisal, which is what is used when there is a loan. In today's market a property is really worth whatever it can appraise for.   In the end, Zillow "Zestimates" are not fact, I would not lose any sleep over what they say my property is worth.  Enjoy your home.
Spirit
  • June 17 2014
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Hi Joe,

Zillow's Zestimate has a variance of 20% according to Zillow themselves. A computer is not able to value a property like a human can. I recommend speaking to a local real estate professional if you would like additional information that you can rely upon. Good Luck!
  • June 17 2014
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