Zillow? Can you Trust it?
by: Jeff Quintin, on July 10, 2018 - Uncategorized
Zillow is a great place to research local real estate. However, you shouldn’t take their Zestimates too seriously. The site’s home estimates have been proven to be off by 8% in most cases.
For example, if Zillow says your home is worth $1 million, it could actually be worth $1,080,000 or $920,000. Zillow doesn’t know the street value of your home. It doesn’t understand the demand, supply, or what buyers are looking for in certain markets.
Inventory is incredibly low right now. Buyers recognize that. In fact, if they find a house they admire, they might overpay for the home based on what the last sale was because there aren’t a lot of choices out there. In other cases, when inventory is high, buyers have tons of choices, which also affects your home value.
If you truly want to know what your home is worth, call a Realtor. We’ll do an exact market analysis for you and tell you what to expect from your home sale based on what is happening in the market.
On the other hand, Zillow is a great place to find reviews of real estate agents. You can get a good idea of what it is like to work with someone based on real people’s experience with them. I am a premier agent on Zillow, and I have 185 reviews right now.
My goal is to reach 300 reviews, so please stop by and write us one. We would love to hear from you! If you have any other questions, give me a call or send me an email. I would be happy to help you.