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I've seen lots of mention on these threads about Zillow, the Real Estate site that gives a value of a particular home......I feel an urge to speak up.
First of all...in the spirit of full disclosure, I'm a Realtor. My experience with Zillow has been very poor. See....here's the deal. Zillow does not take into account any features, tangible or intangible. They have no way of knowing if a house has.....upgraded granite, fenced yard, new bathroom, premium lot, professional landscaping, etc, etc, etc. They just don't know....how could they?
I have seen value variances of over 25% vs. true market value....that's a lot of money. Sometimes their value is high, sometimes it's low.....just all over the board. I've seen them use comps over 10 miles away, and with a difference in sf of over 50%....it's crazy.
My advice is to NOT use Zillow to get an estimate of your home.
I've seen lots of mention on these threads about Zillow, the Real Estate site that gives a value of a particular home......I feel an urge to speak up.
First of all...in the spirit of full disclosure, I'm a Realtor. My experience with Zillow has been very poor. See....here's the deal. Zillow does not take into account any features, tangible or intangible. They have no way of knowing if a house has.....upgraded granite, fenced yard, new bathroom, premium lot, professional landscaping, etc, etc, etc. They just don't know....how could they?
I have seen value variances of over 25% vs. true market value....that's a lot of money. Sometimes their value is high, sometimes it's low.....just all over the board. I've seen them use comps over 10 miles away, and with a difference in sf of over 50%....it's crazy.
My advice is to NOT use Zillow to get an estimate of your home.
I've pulled up my previous home when I found out about this site and found that it is not at all acurate. It had my house (colonial w/2 car garage) about 20k lower than a split foyer in the neighborhood with no garage. It made no sense of the values. I am not sure how they calculate them, it can't go by square footage with the values all over.
I've seen lots of mention on these threads about Zillow, the Real Estate site that gives a value of a particular home......I feel an urge to speak up.
First of all...in the spirit of full disclosure, I'm a Realtor. My experience with Zillow has been very poor. See....here's the deal. Zillow does not take into account any features, tangible or intangible. They have no way of knowing if a house has.....upgraded granite, fenced yard, new bathroom, premium lot, professional landscaping, etc, etc, etc. They just don't know....how could they?
I have seen value variances of over 25% vs. true market value....that's a lot of money. Sometimes their value is high, sometimes it's low.....just all over the board. I've seen them use comps over 10 miles away, and with a difference in sf of over 50%....it's crazy.
My advice is to NOT use Zillow to get an estimate of your home.
I totally agree! I think zillow is a good way to get a very broad estimate on the area you are looking at but that is it. If I look up my neighborhood on it the estimates in general are good but if you look house to house the estimates are all over the place and not accurate.
I've seen lots of mention on these threads about Zillow, the Real Estate site that gives a value of a particular home......I feel an urge to speak up.
First of all...in the spirit of full disclosure, I'm a Realtor. My experience with Zillow has been very poor. See....here's the deal. Zillow does not take into account any features, tangible or intangible. They have no way of knowing if a house has.....upgraded granite, fenced yard, new bathroom, premium lot, professional landscaping, etc, etc, etc. They just don't know....how could they?
I have seen value variances of over 25% vs. true market value....that's a lot of money. Sometimes their value is high, sometimes it's low.....just all over the board. I've seen them use comps over 10 miles away, and with a difference in sf of over 50%....it's crazy.
My advice is to NOT use Zillow to get an estimate of your home.
I have used zillow to get a list of properties that have recently sold and their prices, and I have used it to watch if a property value is going up or down (which is pretty much a determining factor of the neighborhood, not the actual property), but never to judge the actual value of a property.
agreed- Pghquest,I'm not even sure that's all that accurate if it is an infill neighborhood of scrapes... for example, the home a block over from me went for 500K. Which actually made my home immediately decrease in "zillowestimate" about 12%. However, they immediately scraped that home and will likely build a 1.5 Million dollar home. So that will increase my value. So it depends on the neighborhood.
I am an appraiser and cannot tell you how often a loan officer or homeowner use Zillow or another AVM as an example when my reports don;t agree with the values the AVMs spit out.
AVMs are worthless because the data they use is questionable. Not t mention the lack of detail on the Subject, as the OP pointed out.
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