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Answers (3)
- Spirit Messingham, "TucsonSpirit"
- Contributions:663
Please keep in mind no one in the RE industry uses Zillow's Zestimate to determine real value. More like a ballpark or guestimate, for several reasons. If you need to know more, please consider speaking with a local Realtor to see recent sold comps or consider paying for an apprasial. Best of luck.
- Jeff Masich, "Arizona Homes Land"
- Contributions:508
Dear JGodwin:
While it is interesting to look at Zillow's house prices, they can frustrate homeowners with their computer modeling on Zestimate.
The botom line is that no one looking for a home will use Zillow's Zestimate to establish a price. Realtors represeniting a buyer will do a Comparable Market Analysis that involves the same homes built by the same builders, location, lot placement, upgrades, condition and much more.
Better not to think about it. Ask your Realtor or Appraiser if you need a real value right now. Otherwise, enjoy your home until prices rise again.
Jeff Masich
HomeSmart Realty
Arizona Homes and Land.
While it is interesting to look at Zillow's house prices, they can frustrate homeowners with their computer modeling on Zestimate.
The botom line is that no one looking for a home will use Zillow's Zestimate to establish a price. Realtors represeniting a buyer will do a Comparable Market Analysis that involves the same homes built by the same builders, location, lot placement, upgrades, condition and much more.
Better not to think about it. Ask your Realtor or Appraiser if you need a real value right now. Otherwise, enjoy your home until prices rise again.
Jeff Masich
HomeSmart Realty
Arizona Homes and Land.
- wetdawgs
- Contributions:26841
Zillow's Zestimates are calculated from the core facts of the homes, and don't take into account upgrades. Therefore, most likely your parents' house has a higher Zestimate because of the larger lot. Zestimates are a starting point for comparing properties, and don't substitute for a CMA and/or appraisal
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