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Recently, we asked visitors to our website what specific questions they had and Diana asked this question:<\/p>\n
\n\u00a0When listing a home for sale, how accurate are sites like Zillow in their estimates of what you could list it for?<\/strong><\/span><\/p>\n<\/blockquote>\n
Zillow’s own disclaimer says that they can be up to 20% off. I find that zestimates are inaccurate but at the same time often can give you a ballpark. Kind of like those new builder signs that you see pop up all over town saying, “from the $200’s” but when you get there the price is $325K. So it’s not realistic but if you were just sort of curious I think it’s a great tool for getting the most vague reference point… which might be all you want.<\/p>\n
The tool I like best if you’re looking for a DIY tool is Chase Home Evaluator, there’s no account needed. Although it does basically the same thing, the data seems to have more integrity. Chase isn’t trying to game Google or generate advertising dollar from agents it wants its customers to go to this tool and then decide to refinance with them.<\/p>\n
With any tool you have to use your best judgement and try to make adjustments (realistic adjustments) to the value. \u00a0In addition, most tools do well when you have a neighborhood that has similiarites like a subdivison like Hamilton Mill<\/a> or where the buildings are the same like a townhome or Atlanta Condo<\/a>. \u00a0It doesn’t do as well where the architecture is diverse like it is in Brookhaven for example. \u00a0<\/p>\n
Certainly Zillow has come a bit further (although not much) but it’s really hard to trust a company’s evaluation if there’s no integrity. \u00a0<\/p>\n