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Please explain Zestimates vs Foreclosure estimates. Thanks

  • May 24 2013 - Zebulon
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Answers (1)

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click on the links:

What is a Foreclosure Estimate?

What is a Zestimate?

Each county and Zip code has an average percent difference on the sales transactions for "normal sales" and "distressed sales".  Zillow simply uses the data from the sales to calculate that average regularly, then to apply that percentage to the estimates to create a "foreclosure estimate".

(They may be using the median instead of the average...they are not specific enough in their documentation).

As it is only a statistical number, applied to statistical estimates, they may or may not be helpful for any specific property you are looking at.
  • May 24 2013
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