Zillow.com offers homeowners Zestimates, or Zillow’s interpretation of a home value. I was curious to see how accurate Zestimates are in the Triangle area. Did you know that Zestimates for North Carolina could be off by 20% of the actual home value?
For example, we’ve sold a home in Raleigh for $355,000 with a Zestimate of $354,500. Zillow – you did well.
However, we’ve also sold a home in Raleigh for $710,000 with a Zestimate of $671,400. Phew, Zillow – you are almost $40,000 off!
Thirdly, compare the Zestimate to this Raleigh home that was sold for $160,000. Also note the discrepancy of the selling price in Zillow.com. Either way, the Zestimate for this home is still off!
It is all too important to get your facts, do your homework, and work with the pros to get an accurate dollar value of your home. Zestimates are not appraisals, and though you can use the value as a beginning point (at best), you cannot get an accurate home value without talking to a real estate agent and/or professional appraiser.
If all these numbers confuse you, don’t worry. A good real estate team will have a pricing specialist that can go over your home and give you the information that you need. What Zestimates lack is the personal value of a home. What makes your home special? What “spark” does your home have that can appeal and attract buyers? What can you do to get your home “market ready?” It is impossible to get these numbers without the aide of an expert that knows your area. I personally extend my expertise to take the confusion of the number game.
Call a Pro for your actual home value 919.601.7710