Putting Zillow's Zestimate to the Testimate

I heard when a person jots down worries or concerns it can quiet a mind to a point where they can enjoy inner peace...so here I go!

Having performed hundreds of Comparative Market Analysis over the years I have developed a few pet peeves but one stands alone, The ZESTIMATE® !

Sitting and talking with these sellers I was always surprised by the large number of them referring to Zillow's Zestimate® through words or actions, as a reliable and accurate valuation.  Keep in mind I have come a long way in articulating data helping homeowners see realistic attainable value which is why Zestimate® is just a little pet peeve of mine, nothing more.  But let's keep going because I do want to experience that peaceful place so many talk about.

What is Zestimate® - from Zillow

So let me get this right,  it's an estimated market value using proprietary formula and after all that you get a starting point in determining a home's value.  Seems to me we made a complete circle and ended up at the starting point alright... "how much is my home worth?". 

Here's what David Howell executive vice president and chief information officer at McEnearney Associates had to say about Zillow's Zestimate® -

Putting together a home evaluation is one of the more challenging task a REALTOR®  performs and in my opinion the most important.  Everything starts with value whether it's buying or selling a home.

For sellers it's having an accurate, realistic value helping them first and foremost with the question whether or not to list a home.  I worked with a seller a few years back but before we talked decided on a job transfer and finalized it based on the value he found online.  Not the best strategy but he went on to say in worse case he could of sold $20,000 under the reported online value, the problem arose when it was closer to $50,000.  Second problem, job transfer in place now they had to move!

With buyers an accurate home evaluation helps in determining where to start negotiations and more importantly where to stop.  Nothing can be more discouraging than living in a home for a year or two before gaining any equity.  On to our test results!

The Testimate⊕ of Zestimate®

I randomly searched Doctor Phillips 32836 zip code for sold single family homes past 14 days and depicted them below.

What a messtimate of estimates, I'll give them 10422 Autumn Glen, throw enough darts and you are bound to hit a few.  In my opinion the results resemble more of a guesstimate of values, an example of large amounts of information controlled by a set of rules.

The good news is today's consumers are in good hands, REALTORS®  that live, work and play in local markets have experience and knowledge to throw out the unimportant and fine tune the facts.

Golf Frontage - Right off the cart path or is there a pond and a fairway in the distance.

Square footage - Boxy or open with a nice floor plan flow

3 or 4 Bedroom - same square footage but 4 bed will get significantly more traffic and offers

Current Market - REALTORS® know if a buyer or seller holds the leverage, even when it's close...Curb appeal, lighting and upgrades, all this is just the start of finding a home's value but at the end an experienced REALTOR® will find an accurate home value and not leave a homeowner at  "the starting point in determining a home's value".

They're right this place is pretty peaceful, especially in the middle of a working day putting together three more home evaluations.

Looking for your Doctor Phllips Home Value...no guesstimate here!

    TeamConnect Realty
    "Your Link to Real Estate"

Family, Friends & Community, every market is different.
Contact a TeamConnect Realtor today at 407-347-3800.