Zillow Values - We Love Them and We Hate Them

By
Real Estate Broker/Owner with Charlemagne International Properties BRE# 01147470

At Charlemagne Int'l Properties we have a love-hate relationship with Zillow.  We think it is wonderful homeowners can go to the site, type in their home address, and presto, they have the value of their property.  Or do they?

We recently had a seller contact us, and he was in a jubilant mood due to Zillow's estimated value of his home.  He was ready to list it for sale until we gave him the real scoop on its value in today's market.  Zillow's price was about 25% above actual value.

Zillow sometimes hits the value on the nose, other times they miss it by a mile.  You'll never know the true price until you have a local expert view the home.  You see, Zillow has never stepped inside your home.  Zillow does not know if you have a bigger and better view than homes recently sold in your area.  Zillow doesn't know if your kitchen is cutting edge modern or campy 1950's style.

Zillow's efforts are to be admired, but it takes local expertise, geographic familiarity, and on-site eyes to pinpoint real estate values.

Norma Toering, Broker at Charlemagne Properties
310-493-9333

Comments (6)

Randy Bocook
Keller Williams Coastal Area Partners - Richmond Hill, GA
Selling Coastal Georgia

Great Post, Zillow has changed a lot of things, Not all of it is good. The bad is bad , I hate to hear the dreaded words. I looked on ZIllow and my home should be priced at .........

May 26, 2016 11:40 PM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Ugggg dont get me started on ZIllow LOL...enjoy your holiday weekend!

May 26, 2016 11:46 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Norma

Ah yes, Zillow says my home is worth X so let's list it. Hopefully your seller listened to the facts and not a guess.  Sellers love Z when it says their home is worth more than they think, but what about when Z is low?

Jeff

May 26, 2016 11:57 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Norma,

I like your post.  You are very even handed here.  However, accuracy is important.  Have a great weekend. A

May 27, 2016 12:13 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Norma,  I am not one to give Zillow any credit for anything. The site deceived consumers. That is never a good thing. Ever. 

May 27, 2016 01:10 AM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Norma Toering Broker for Palos Verdes and Beach Cities - When it comes to the value of your home, no matter what the instant estimates tells you, home owners always need to talk to a local real estate agent to really find out their true current market value for all of the reasons you've pointed out. Great post!

May 27, 2016 08:43 AM