You might think that a Zestimate is an accurate portrayal of your home’s value, but it’s not, and here’s why.
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Today I’m here to answer a very common question that I hear all the time: Can I trust Zillow’s Zestimates? The truth is that a Zestimate is created by using an algorithm to compare your home to others that have recently sold in the area. However, Zillow doesn’t know about any remodels or upgrades you’ve made to the property that could have a significant impact on your value. Zestimates are typically between 5% and 15% off of a home’s true value, which can end up costing homebuyers and sellers a lot of money. Even Zillow’s CEO had his home overvalued by 40% based on its Zestimate. Zillow is an app that runs on a code, while Realtors like us live by a code and can give you a true valuation of your home.
If you have any questions about home values or would like an accurate estimation of your home’s current market value, feel free to reach out to me.