Zillow Zestimates, are they accurate?

zestimate accuracy

These days many folks check out their home online, or a property they are looking to purchase, to find an estimate of value. Zillow provides these national in a format they copyrighted and call Zestimates. If you read the Zillow forums on Zestimates you’ll find a lot of angry home owners disputing the value. Recently I went to a seminar held by Zillow themselves to try to get an answer. Zestimates were the very first topic of discussion at the seminar, and from a Zillow representative I heard these words, “Zillow Zestimates are wrong by more than $30,000 dollars 30% of the time.” Now, most people will agree this is not an accurate enough figure to make any kind of an offer on a home!  Zestimates should not be used to determine hard values, but are useful to put you in the ballpark of value on a home in your area. The Zestimates are useful, but not the whole story on a house, not even close. In order to get the whole story, you need a top local agent with experience.

I hope I can help.

For an alternate search option for Portland, try mine. I believe it is as useful as Zillow’s and is – as I’ve discovered- more accurate and up-to-date.

December 26, 2011

Stephen FitzMaurice

Stephen FitzMaurice, Realtor is a top 5% real estate agent in the U.S. and a top 1% agent in the Portland Metro. Principal Broker in Oregon, Managing Broker in Washington he has been licensed since 2003 for residential real estate sales in the Portland Metro area. Call him direct: 503-714-1111.

Pay less (4.5% commission max.) and get more with his top 1% listing team or buy your next home with his excellent top 1% buyer’s team. We work from Salem, Oregon to Vancouver, Washington and beyond. Check out our full services areas on the top menu.