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Answers (5)
- Beth Grotelueschen, "bethghomes"
- Contributions:765
I have to agree that although zillow is not accurate & does not claim to be, there are a large majority of people out there that look on zillow & see it as the true value of a property. Sadly, I've even heard of people in the industry thinking it's accurate. If your house is above the zestimate it can be a deterant to the general public &/or buyers that see it & don't ask their agents about it. It can also work the other way where buyers think they are getting a great deal because the home is priced under zillow value. It's certainly not the end all, be all, but I would make sure all your info is corrected asap. Do remember that you'll more than likely have an agent working with your potential buyers & they'll handle that objection for you.
- kshrestha
- Contributions:3
Thank you for both your answers. I know we should take it with a grain of salt, but, my fear is that buyers aren't going to see that (or see what they want to). Zillow's low estimate could deter potential buyers. I mean if zillow estimates it at $421k why should anyone give any credibility to the asking price? I will try and update my proerty profile.
Thank you again!
Thank you again!
- John Stewart, "nwhome.us"
- Contributions:2166
The link that Wetdawgs is referring to is at the very, very bottom of this page and it says "Zestimate Values & Accuracy." The numbers that you are describing in your own situation are well within the accuracy range disclosed by Zillow. The MEDIAN variation for Seattle is 10.8%; that means the 1/2 the values are greater than 10.8% off and the other half are less than that. You'll also note that the Zestimate will only be within 10%, about 47% of the time.
So much for the stats.....I see that you or Lynda have not enriched your property profile on Zillow. Here is a link that takes you to the Most Common Zillow Questions and you will find instructions there on how you can create your own estimate and enhance the property description. Once you do that on this website, the software assumes that you want control and so it won't update any more from the GBK site. So once you start to enhance you have to keep it up and mark it SOLD when you are successful.
Have fun!
So much for the stats.....I see that you or Lynda have not enriched your property profile on Zillow. Here is a link that takes you to the Most Common Zillow Questions and you will find instructions there on how you can create your own estimate and enhance the property description. Once you do that on this website, the software assumes that you want control and so it won't update any more from the GBK site. So once you start to enhance you have to keep it up and mark it SOLD when you are successful.
Have fun!
- Tonya Brobeck, "Tonya Brobeck"
- Contributions:637
It's simply a free resource and tool for the general public. Certainly not anything an appraiser or agent basis market value off of. I would take it with a grain of salt and focus on the best possible price to list your home according to recently sold comparables near your home and what the active market is currently doing.
- wetdawgs
- Contributions:26854
Zestimates are not appraisals, and don't take into account condition, views, water front and many other things that add value to the house. Splitting three bedrooms into six tiny bedrooms could indeed artificially inflate a Zestimate.
There is a place on this site (Zillow) that provides the statistics for many cities (including Seattle) showing Zestimates vs actual selling prices. (You'll have to dig around a bit to find it because I can't remember - sorry).
There is a place on this site (Zillow) that provides the statistics for many cities (including Seattle) showing Zestimates vs actual selling prices. (You'll have to dig around a bit to find it because I can't remember - sorry).
Zestimate of my house for sale
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