I am on Zillow, Trulia and a variety of other web sites on a regular basis.  What I am noticing today is a good number of complaints from home owners posting on Zillow that buyers are freaking out and killing deals based on home value ‘Zestimates’ that Zillow puts out.

The reality is that the Zestimates are more or less inaccurate.  There are plenty of statements like this:

Why is my home listed for $383,000 in 209 Tall Trees Circle, Downingtown, PA 19335 when my neighbors house …same model is about to sell for $329,000?  The Zillow values are not accurate…. do they come from actual comps?

I definitely encourage everyone to take the estimates of a home’s value on Zillow or any other site with a grain of salt.  Where this is really hurting people is that home owners are using Zestimates as a basis for listing their homes either with an agent or FSBO.  I have encountered several sellers that were surprised at my suggested selling price because it was significantly lower than Zillow’s.

Remember, Zillow uses a complex computer formula to estimate the value of your home.  A real estate agent uses comparable sales, other homes on the market, the condition of your property and knowledge of the market to arrive at their suggestion of what your home should sell for. 

If you are wondering what your home is really worth, give me a call at 425-773-3149 today and I will personally drop by and discuss it with you!