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is a zestimate an accurate price for a starting bid

is a zestimate an accurate price for a starting bid
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July 21 2013 - Porter
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Profile picture for hpvanc
Make sure if you ask an agent, to ask for the raw unfiltered comp data as well as a CMA. The CMA may be no more accurate than the Zestimate.
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July 22 2013
Absolutely not.  The best source for understanding what homes in the area are going for should be your agent.  They can run a CMA which will get as detailed as anyone can provide which will allow you make a decision based on what's happening in the area.
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July 22 2013
Profile picture for sunnyview
No. You should not use the Zestimate that way. Instead, take a look at similar properties that have sold recently in that area. Zillow has a list of them or you can ask an agent for a more complete list from the local MLS to help you structure an offer.
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July 22 2013
No it is not.  Contact a local agent who can help you come up with a good number, based on the market in your area and all other items that can affect an offer.  Best of luck.
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July 22 2013
Profile picture for Pasadenan
1) If you absolutely do not want to buy the house under any circumstances, and want to be laughed at.
2) If you want to pay 3 times what it is worth simply because you were too lazy to do your own evaluation.
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July 21 2013
Profile picture for user1598751
there are two possible answers to this question:

1. No.
2. F*** No. 
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July 21 2013
No. - read the link the WetDawgs suggested.
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July 21 2013
The Zestimate Range is probably more accurate.

And even more importantly:
Given all the homes that you've seen in the neighborhood that were for sale and are now sold and you know what they sold for; what do you know about the value of the home you are looking at how it fits into the market of the neighborhood?

What's the neighborhood, and that home in it, worth to you?  Forget about the seller.
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July 21 2013
Profile picture for wetdawgs
Not usually.    Learn more about the Zestimate and the value range in Zillow's FAQ "What is a Zestimate?" 

It can be a useful starting point for a rough comparison of houses, but doesn't take into account condition.    In addition, Maine is a non-disclosure state so sales prices are not public information so the ranges are much bigger and accuracy much smaller.
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July 21 2013
 
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is a zestimate an accurate price for a starting bid
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