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No it doesn't matter because any good Realtor® will be able to prove it wrong if in fact it is wrong.
I would say a huge part of the market share use this type of website when looking for homes though. The problem with this type of a website giving "their estimate" is because they take information from closings within a certain zipcode to get "their estimates" which most times doesn't calculate the best price for a comparable.
The problem with this type of a website giving "their estimate" is because they take information from closings within a certain zipcode to get "their estimates" which most times doesn't calculate the best price for a comparable.
Aha - that may explain the decrease. A house around the corner - a larger house than mine - recently sold for much less than I paid. The house was totally trashed, apparently, so sold low. It doesn't resemble my house at all, but I guess given that it is a larger house in the same small subdivision it was probably used. Pretty silly.
I heard people who came to view my house actually talking about the Zestimate for it before they realized I was home (I couldn't leave for that particular showing as I work from home and I guess the agent forgot I would be home). Before they got down the hallway to see me, he also loudly criticized the kitchen island as "ruining" the kitchen, the dining room as "making no sense," and I think the hardwood as "way too skinny." Then the agent happened on me and that was the end of that. I just smirked at him and told him I left a note on the front door where the lockbox was, but he came in through an unlocked side door.
My house value fluctuates up and down about 20% on Zillow over the course of months, and yet the real estate market here has been very stable for a few decades.
On Zillow our house is estimated at $20k below our next door neighbor's house. On Trulia, our next door neighbor's house estimate is the same as on Zillow, but ours is estimated at only 3k below that. I pointed this out to Zillow, and got the robot response they send everyone which basically says nothing. But the Zillow email did encourage me to enter whatever I thought in the notes under my property on the Zillow site. So, in the notes I wrote 'please see the Trulia.com website for an accurate value estimate.' Made me feel better anyhow.
Zestimate is meaningless and volatile; mine changed 14K this month, apparently because 1 house nearby sold.
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But the Zillow email did encourage me to enter whatever I thought in the notes under my property on the Zillow site. So, in the notes I wrote 'please see the Trulia.com website for an accurate value estimate.' Made me feel better anyhow.
