Ever since the launch of its website in 2006, Zillow has increasingly gained its popularity as a convenient tool to look up home values. When I work with prospective buyers or sellers to explain the market value of their homes, I often hear the famous line "but Zillow says...!" followed by "so how accurate is the Zestimate?"
Thanks to Zillow for providing a detailed video of "A Guide to the Zestimate" to explain how the home values are generated. I hope you will find this video helpful!
Monday, January 25, 2010
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3 comments:
AMEN! There's no substitute for the expert opinion of an appraiser who has inspected the property and the neighborhood!
Thanks. I only found out about this site recently. I like how they list the purchase price/date/property tax of any property just by inputting the address. And an "esimate" of the property value, but I have no idea how correct this estimate is... especially when my parents houses were remodeled with more rooms which is not listed in their record.
It helps with my older tax clients that have lost their property records, I can get an record of purchase price/date/tax with just a few clicks. Saves me some time.
You Know Who lol.
Interesting. I didn't know you can influence the price displayed in their Zestimate by writing to them explicitly. I wonder if they have a mechanism to take into account the opposite - discount a home from their estimates because of poor interior/exterior/location that don't reflect the rest of the homes in the neighborhood.
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