Zestimates are inaccurate

    Take a look at the definition of Median Error for this chart:  Half of the Zestimates in an area were closer than the error percentage and half were farther off. For example, in Seattle, Zestimates for half of the homes are within 8.2% of the selling price, and half are off by more than 8.2%.
    Take a look at the definition of Median Error for this chart:
    Half of the Zestimates in an area were closer than the error percentage and half were farther off.

    Whether or not you’re planning on selling, most people are curious about the current value of your home. If you were to put it on the market today, how much would your home sell for?

    Zillow is a website many people go to in order to see their home’s value. However, “zestimates” are grossly inaccurate. They actually show most homes undervalued, giving buyers the impression that your home is overpriced. It also rarely takes into consideration recent updates or improvements.
    According to The Wall Street Journal, the tool utilizes a home’s sales price, sales history, tax assessments, and  square footage. Their tool includes a value based on comparable homes. Although Zestimate may provide an accurate home value for some homes, it may be off by a large amount for other homes. Past sales history isn’t a reliable predictor of a home’s value, as the Capital Region real estate market is always changing. Tax  assessments may be inaccurate as some homes may not have been assessed in years.
    Your home may be undervalued. If you’re on the fence about selling,  we can help. We offer a no obligation, free home value estimate of your Albany, NY or Capital Region home. Our  comprehensive home estimate takes into account many current factors including  location, comparable home values and home features.
    You can receive your home’s value by visiting http://www.whatsmy518houseworth.com/
    We’d be happy to go over the results with you.
    For Capital Region market statistics, follow us on Facebook!
    Zestimates are grossly inaccurate and can give Buyers the impression your home is overpriced. Sellers are not going to want to be displayed showing that their list price is 20% over an inaccurate Zestim…ate.  Zestimates can give Buyers the impression that their lowball offer is going to be viable based on the Zestimate they saw.
    Take a look at the definition of Median Error for this chart:
    Half of the Zestimates in an area were closer than the error percentage and half were farther off. For example, in Seattle, Zestimates for half of the homes are within 8.2% of the selling price, and half are off by more than 8.2%.See More

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