I’ll admit it, I like to look at Zillow from time to time. It’s a fun site and interesting concept. However, that is as far as I would take it. Here are two examples why I wouldn’t stress out about what Zillow has your home estimated at. Also, if you are buying a home your Realtor should provide you with an evalaution of the appropriate value for the house that you are making an offer on.
Above is the zestimate for 3152 37th Ave S in the Longfellow neighborhood of Minneapolis.
Here is what I sold the house for this year: 3152 37th Ave south sold for $243,000 in about a week. That’s $18,000 above the estimate from Zillow.
Another example is 4035 38th Ave S also in the Longfellow neighborhood of Minneapolis.
Here is the Zestimate:
Here is what I sold it for this summer:
4035 38th Ave S sold in multiple offers over the asking price for $269,777. That is $75,077 over the Zestimate! Or, a 29.7% margin of error on the Zestimate. I have many more examples, but I think this gives you the idea. So, there you go! Have fun, play around on the Zillow site…I do every once and a while. But when it comes time to actually make a real estate decision, use a skilled and expert Realtor.