Millions of people log on to Zillow every day in order to see what home values are either within their neighborhood, for a home they might be interested in buying and even what their own home’s “Zestimate” is at the moment. A Zestimate is an estimate of a home’s value according to an computer algorithm at Zillow. Zillow is one of the most popular real estate resources on the Web, I know my clients use it, it comes as no surprise that many home buyers, sellers and owners alike consider the Zestimate number to be an accurate assessment of a home’s value. This is far from true and the reality is that a computer algorithm can not take in all the unique considerations needed to determine a true and accurate home value for a Santa Barbara home.
Four Things A Zestimate Doesn’t Account For in Home Value
- Computer Data Mistakes
- Renovations and Upgrades
- Unique Attributes and Features
- Neighborhood and Location
When it comes to listing your property or writing an offer on a house that you wanting the ‘real’ value of your own home is, your best resource for expert information is coming to me, Sally Dewan, your Santa Barbara real estate expert. As a professional I can provide you with the insight you need to know about the Santa Barbara housing market and the value of your own home or one you may be interested in selling or buying. This doesn’t mean that your Zestimate should be thrown out the window. Your Zestimate can serve as a valuable starting point when it comes to pricing your home. Remember, though it takes a real person – not a computer to give you personalized insight, advice and recommendations.If you want to read more about this subject and the accuracy of Zillow Zestimates or the lack there of, you may want to read this article from the LA Times. There you have it. I hope you found this information useful and if so, I’d love to hear about it. Send me a note or ask a question or leave a comment below. And if you’re serious about valuing your own home, I’d be happy to help! See below for information on how to have your property valued or contact me directly.
Curious About Your Home’s Current Value?
Fill Out The Form Below For A Complimentary ReportYou’ll receive:
- Summary of comparable listings near you
- Complete property details including photos and pricing for homes selling in your neighborhood
- Comparison of home list price vs. actual selling price for recently sold homes
- Trends showing if prices are rising
- How long it takes to sell in your area
- Information to suggest a good time to buy