Until the past six months, the Zestimates I saw from Zillow didn't seem to be that accurate in the areas that I cover around Atlanta. But over the past few months I began seeing that Zillow was coming up with very good estimate of value. I'd do all of my analysis and then find that Zillow had come up with pretty much the same number. My personal home seemed to be right on target.
Here's the graph of the price of my home over the past ten years according to Zillow. I bought it for $388,000 back in 2001. A couple of years ago I thought it might have been worth around $500,000. Now, from what I've being seeing in the local market, I do think that it's back to what I paid for it.
I think their computers are really learning their stuff. The question will be, "Are you smarter than a Zillow computer?" and then "Does it really matter?"
How's are the Zestimates in your area?
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