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How accurate are the zestimates?

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July 14 2009 - Franklin
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Answers (4)

I find, because zestimates are based on averages and not on a specific house's condition, zestimates are most useful for seeing how prices are trending in a given location.  However, as Heidi says, claiming and updating info on your home does help put you in the correct 'averages' computation.
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July 16 2009
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The first link is to an explanation of a zestimate. The second is to an accuracy table that includes Norfolk County. Many will say the zestimate is a joke, but I think most will say that it's nothing more than a starting point. Our accepted offer was almost to the dollar of our zestimate. By the time we axctually, closed the zestimate was almost 10 grand higher. BTW, I saw that typo. I just kind of liked it. lol 

http://www.zillow.com/how ... imate.htm

http://www.zillow.com/how ... acyMA.htm
http://www.zillow.com/howto/DataCoverageZestimateAccuracyMA.htm

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July 14 2009
I have found the price is usually included in the "range", but it is a computer algorythm and not a person who has seen your particular property.
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July 14 2009
in some cases they are very accurate. however i would not use it as fair market value without consulting a Realtor or certified appraiser. Remember that a zestimate is an estimate based on online information which can be very varied. don't forget to claim your home and be sure all of the information is accurate.
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July 14 2009
 
Related Questions
How accurate are the zestimates?
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Latest answer by Nancy Lee
July 16 2009 | 4 answers
  • Asked by debus
  • In Pricing
  • July 14 2009
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