5 ms·
Considering a Zestimate doesn't take into account anything about the aesthetics or actual character of the house, being off by 20% doesn't seem like it is that
by kosei 10y ago
Considering a Zestimate doesn't take into account anything about the aesthetics or actual character of the house, being off by 20% doesn't seem like it is that much. People respond to more than just the pure square footage and neighborhood. The Zestimate should be taken as nothing more than a directional starting point for someone who doesn't have the time to actually look at neighborhood comps.
- Neliquat 10y agoIsnt that what it is marketed as? I found it useful as a starting point when shopping.
- kosei 10y agoExactly. I think the writer is taking issue with trying to use it as a more exact science, and calls it out for being within 20% of the sale value 90% of the time, which I think is pretty reasonable considering the high amount of subjectivity in home purchasing.
- byoung2 10y agoExactly...looking at a neighborhood of $500k houses, a fixer-upper vs a recent remodel could easily change the price by 20%, and Zillow obviously doesn't have attributes for the condition of the house.