Great article about Zillow, and their Zestimates! Buyer/Seller beware! Consult a real estate professional before making any decisions about buying or selling a home. Don't rely on these sites that offer instant access to not only a properties value (for sellers) but also on the availability of homes (for buyers). Be informed!
Here is a preview of the article ..
Realty Times - "Shoppers, sellers and buyers routinely quote Zestimates to realty agents - and to one another - as gauges of market value," said the Los Angeles Times. "If a house for sale has a Zestimate of $350,000, a buyer might challenge the sellers' list price of $425,000. Or a seller might demand to know from potential listing brokers why they say a property should sell for just $595,000 when Zillow has it at $685,000. Disparities like these are daily occurrences and, in the words of one realty agent who posted on the industry blog ActiveRain, they are ‘the bane of my existence.'" Read more at Realty Times