A “Zestimate” is Just an Estimate

Zillow has risen to the top as a premier site for real estate. It is often the first stop for buyers when they are searching for available homes.

It has also become the place that buyers consult when determining the value of a home they are interested in purchasing. The values posted on Zillow are called “Zestimates” and are based on a variety of public information, such as tax records, recent sales, etc. However, a Zestimate is just that… an estimate, a starting point, and should not be confused with an appraisal.

A Zestimate by definition does not take into consideration recent upgrades and renovations to a home;

Zillow may not be aware that the basement was recently finished or that an enclosed room was just added. Also, there is a margin of error to the Zestimate – the percentage varies depending on the city and state.

Zestimates can be a great starting point when purchasing a home, but in no way can they replace the expertise of a Realtor or the professional opinion of a licensed appraiser.