There’s a good deal of discussion going on about Zillow’s ‘Zestimates’. Zillow can be a good starting point, but that nationwide Zestimates have a “median error rate” of about 8%.
Whoa. That sounds high. On a $500,000 house, that would be a $40,000 disparity — a lot of money on the table — and could create problems. So what do you do now that you’ve got the scoop on Zestimate accuracy? Most important, take this advice: Look at them as no more than starting points in pricing discussions with the real authorities on local real estate values — experienced agents and appraisers. Zestimates are hardly gospel — often far from it. Also, there are quite a few of expired, sold, pending and withdrawn homes that are never updated in Zillow, creating confusion for buyers. Always check with a realtor who will let you know the current market conditions. We would love to help. Contact us at 1-833-VORIES1 or visit us at http://www.thevoriesteam.com to accurately shop for homes. Keller Williams Realty Services. Equal Housing Opportunity.
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