"I took a look on Zillow, and they show an estimated price of $900,000."
How many times am I asked about inaccurate Zillow information. Let me count the ways in which this sit frustrates me and as another agent said www.GIGO.com (Garbage In Garbage Out) would make more sense than Zillow.com. Their information ranges from mildly inaccurate to badly inaccurate. All of it is useful only as a starting point requiring at the very least context and clarification.
Credit for this original work is given and comments should be address to Lottie Kendall of San Carolos, CA at the Active Rain link below
"I took a look on Zillow, and they show an estimated price of $900,000"
So began the email from a client who is somewhat interested in purchasing a home in Redwood City, CA, one that is currently listed around $929,950.
The Zillow discussion then ensued. Zillow is a fun site, but buyers, sellers, neighbors -- please remember that even Zillow doesn't claim their "Zestimates" are hard and fast values. There are too many variables that square footage in the area can't address.
- Have there been updates? Remodeling? Or is it in close to original condition?
- What is the outlook of the property? Beautiful view or an ugly shack across the way?
- Do multitudes of utility wires crisscross the property?
- Does this property fall in the same school zone, as other nearby homes? If not, are the schools comparable?
- And what about auditory matters?
And then, I showed him the following Zestimate of a property I listed last February. Zillow thought the house worth about $956,000. The sales price?
$1,207,000! That one was off about 21%
Bottom line: have fun with Zillow, but allow your REALTOR® to prepare for you and explain a comparable market analysis.--- Just another benefit of living here!
Lottie Kendall, Realtor
Today | Sotheby's International Realty
San Carlos, California, 94070
DRE#01215160; 650-465-4547;
Peninsula Living: San Mateo County and Silicon Valley Real Estate
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