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Answers (2)
- Nancy Sullivan, "nansully"
- Contributions:77
I'm copying and pasting the answer I just gave to another query:
It's really important for folks to remember that the Zillow market values, or "Zestimates" are not accurate by any stretch of the imagination.
I would unsubscribe to your Zillow e-mail updates if this is all you are receiving from the site.
I can give you specific examples: I had a Woburn listing close/sell last Friday for $545,000. Zillow puts it at $686,500. I had another close at $410,000 with a 'Zestimate' of $395,000 and yet another closing next month more than $20k above it's 'Zestimate' of $345,000.
You just can't use these figures for anything, seriously. Zillow is fantastic site for all of it's tools and maps and features, but the home value function is deeply flawed and Zillow recognizes this.
In all likelyhood your home is worth more than your 'Zestimate'. If you look at similar homes that have sold, you can determine this.
It's really important for folks to remember that the Zillow market values, or "Zestimates" are not accurate by any stretch of the imagination.
I would unsubscribe to your Zillow e-mail updates if this is all you are receiving from the site.
I can give you specific examples: I had a Woburn listing close/sell last Friday for $545,000. Zillow puts it at $686,500. I had another close at $410,000 with a 'Zestimate' of $395,000 and yet another closing next month more than $20k above it's 'Zestimate' of $345,000.
You just can't use these figures for anything, seriously. Zillow is fantastic site for all of it's tools and maps and features, but the home value function is deeply flawed and Zillow recognizes this.
In all likelyhood your home is worth more than your 'Zestimate'. If you look at similar homes that have sold, you can determine this.
- Pat Pribisko, "Pat Pribisko"
- Contributions:1426
Zillow readily admits that its Zestimates are merely estimates based on data from public records (and some math formulas). Is you want a good valuation of your home, contact a Realtor in your area aor a free CMA (Comparative Market Analysis).
How do you figure house values?
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