Is Zillow Accurate?

By
Real Estate Agent with Douglas Elliman Real Estate in Babylon NY
https://activerain.com/droplet/4nMl

is zillow accurate?Is Zillow Accurate?

This question was asked of me recently and I said, no, Zillow is not accurate and here are the reasons why:

  1. In order to obtain an accurate property values, someone has to see your house. They have to see any improvements you have done over the recent years. Tell me, did a Zillow representative come to your house? I think not.
  2. Zillow averages the sales in your neighborhood and averages them out to get the value of your home. The homes surrounding your home are different like you may own a Ranch style home but the other homes could be Colonials, Expanded Capes, Victorian, Expanded Ranch. These homes are traditionally larger than Ranch style homes.
  3. Your home could be more updated in and out, you may have larger property, an in-ground pool, 2 or 3 car garage, beautiful landscaping, etc. So, what if the value you see for your home on Zillow is less than what you really could sell your home for?

Below is the "Zestimate" for my home which I bought in June 2007 for $370,000:

maple court west babylonj



$308,000 for my house? I wish
. I listed my neighbor's house earlier this year and it sold for $275,000. The buyer's bank appraiser appraised it for $290,000. My new neighbors moved in with $15,000 in equity. I, on the other hand, have lost $80,000 in equity. For me to sell for $370,000, I will have to wait about 10 years+. Zillow overestimated my house. No surprise there.

See above where it says Zestimate range above? That is how they average out to come up with a Zestimate for everyone's home. It is NOT accurate folks. They will never be accurate, ever.

If you care about your investment that you have worked hard for (your home), then call me for a free, no obligation, more accurate market analysis of your home. 631.703.0201


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Rainmaker
2,346,102
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Excellent answer and explanation for the very often asked question "Is Zillow accurate?".....well done Jackie.

Sep 24, 2014 09:03 PM #1
Rainmaker
749,998
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Thank you Roger. Have a fabulous day my friend!

Sep 24, 2014 09:07 PM #2
Rainmaker
1,472,315
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Very good response to that question.  Zillow reps do NOT come to see your house, nor the comparables, so how could they possibly be accurate with the value?

Sep 24, 2014 09:10 PM #3
Rainmaker
749,998
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Kat, exactly. The homeowners that want that price, ignore how it is really done.

Sep 24, 2014 09:14 PM #4
Ambassador
1,207,759
Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

I'm with you here Jackie.  Zillow's "zestimates" are rarely accurate.  I get asked thesequestions all the time too.  

Sep 24, 2014 10:17 PM #5
Rainmaker
749,998
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Jared, I just wish their zestimates would go away. Thanks Jared and have a great day.

Sep 24, 2014 10:23 PM #6
Rainmaker
4,797,884
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

If Zillow were accurate then banks wouldn't need to spend the time and effort on appraisals.

Sep 24, 2014 10:42 PM #7
Rainmaker
749,998
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

And that Gabe, is what gets my sellers into reality. Thank you and have a fabulous day!

Sep 24, 2014 10:46 PM #8
Rainmaker
5,128,941
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Jackie....zillow makes every listing agent's job a little more difficult.... not our friend, for sure...

Sep 24, 2014 10:51 PM #9
Rainmaker
749,998
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Good Morning Barbara, far from our friend. Would love to see the "zestimates" go away.

Sep 24, 2014 10:58 PM #10
Rainer
264,080
Steve Kantor
BEST AGENT BUSINESS - Bethesda, MD
Best Agent Business - Virtual Assistance

Excellent points, Jackie. I've heard these complaints before...good to keep it in the back of the mind when using Zillow.

Sep 25, 2014 12:00 AM #11
Rainmaker
749,998
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Steve, Thank you. We all hear these complaints. So many homeowners do not realize in order to obtain an accurate home value, somone has to actually see the home and compare to recent sales. Have a great day!

Sep 25, 2014 12:02 AM #12
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Rainmaker
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Jackie Connelly-Fornuff

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