Can you trust your Zillow Zestimate? Today I’ll explain why they’re not completely accurate.
Can you trust your Zestimate? I get asked this question all the time. We’ve all been conditioned by Zillow to go check our Zestimate. That’s one of the first things many do if they’re a buyer, seller, or just a homeowner—check if their home has gone up in value.
So let’s discuss that Zestimate. Most people don’t know that Texas is a non-disclosure state, one of seven in the United States. That means our sold prices are not disclosed to the public. Zillow does not have access to them. Zillow gets their Zestimates from an online algorithm based on public information. They use tax and mortgage valuations for their Zestimates. However, in a new subdivision, they may be a bit closer to the accurate price.
Also, the Zestimate doesn’t take into account any upgrades to the home, extras such as pools, or negatives to the home, such as a trash dump right over the backyard fence. A Zestimate can give you a ballpark idea of what your home may be worth and can be a nice place to start, but it is not 100% accurate. Your No. 1 way to find a true valuation for your home is to call your Realtor. We would be pleased to help you. We look at all the things Zillow cannot. We real estate agents care about the functional layout of your home, what kind of street you live on, etc. We look at the big picture as well as the details, then compare homes in your area.
Give us a call or send us an email if you’re wanting to know an accurate price on your property. Contact us with any questions about Zillow or other real estate topics. We would be glad to help you.