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What is a Zestimate

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August 09 2013 - Battle Creek
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Here's a link to Zillow's FAQ "What is a Zestimate?" as well as "Data Coverage and Zestimate accuracy".

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August 09 2013
"The Zestimate® home valuation is Zillow's estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home's value. The Zestimate is calculated from public and user submitted data; your real estate agent or appraiser physically inspects the home and takes special features, location, and market conditions into account."

That said, it is only an estimate and often varies widely from the home's actual value. For a better idea of your home's value, be sure to call up your real estate agent and ask them to complete a CMA (Comparitive Market Analysis) on your home. Even that is only an estimate, but it is a much more specific estimate. Your appraiser will give you the most official estimate of worth.

Best,
~Chuck Catania
Realtor with Century 21, Clemens
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August 09 2013
 
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