Zestimate home values are terribly unreliable on pricing home sales and home values in general. As a broker I have know this since Zillow first started showing up on the web over 6 years ago. Though this site is accessed by many buyers and sellers alike it is inaccurate in estimating home values. Buyers as well as sellers get confused. I am not surprised. Check out this recent online valuation that was generated on sold listings while I was doing an Comparative Market Analysis (CMA) with my business partner, Phillip Bailey, for a property we will be listing at the exclusive Peninsula Point area of Newport Beach. The sold Zestimates ( Z for Zillow ) are 18% to over 30% off from the actual closing price.
Location, interior finishes and views can not be put into a formula. It still takes a professional agent or broker to do it right! Contact me for an evaluation anytime. I hope you had a great Thanksgiving.
