It's Time to Check Zestimates again

Zillow is a popular site with the general public--who isn't interested in what someone thinks is the value of their house, and those of their friends and neighbors? What many people don't understand is that the Zestimates shown by Zillow can't take into account the specifics of a house and the current market conditions.

Periodically I give examples of Zestimates of properties in California's San Mateo County and then let you know what the home actually sold for. My habit is, when I first take a listing, to take a screen shot of the Zestimate and them compare it with the actual sales prices.

Let's take a look at a few from the past 5 months:

10 Pyxie Lane - Price Zestimate

Sales Price: $951,000

 

 

 

 

 

 

 

868 Stonegate, SSF - Zestimate

 

Sales Price:

$665,000

 

 

 

 

 

29 Greenwood, SSF - Zestimate

Sales Price: $640,000

 

 

 

 

266 Beachview #8, Pacifica - Zestimate

Sales Price: $735,000

 

 

 

 

As you can see, buyers are not doing themselves a favor in our area if they think the Zestimate reflects market value of properties in San Mateo County.

My advice: look at Zillow, enjoy the entertainment value of it ----  then call a Realtor® who can truly advise you about the market value of your property, and discuss ways you can maximize your gain should you decide this is the right time for you to sell.

 

--- Come for a visit; Stay for a lifetime!

Lottie Kendall, Realtor®

Pacific Union International

CA DRE#10215160; 650-465-4547

Lottie@LottieKendall.com

www.LottieKendall.com

Peninsula Living Business Page

www.SFCondosForMe.com

 

 

Comment balloon 15 commentsLottie Kendall • May 06 2015 05:49PM

Comments

I keep saying the same thing. I agree hook up with a Realtor and have them tell you what the right amount is.

Posted by Sussie Sutton, UTR TEXAS Realtors - Rep for buyers and sellers. (UTR Texas Realtors) over 3 years ago

And I have seen these when they are off that much or more the other direction. Zillow is worth what you paid for it... NOTHING

Posted by David Shamansky, Creative, Aggressive & 560 FICO - OK, Colorado Mtg (US Mortgages - David Shamansky) over 3 years ago

Hi Sussie Sutton - do Zestimates in your area run high or low?

These Zestimates are definitely area-specific, David Shamansky - either high or low, but rarely close to reality.

Posted by Lottie Kendall, Serving San Francisco and the Silicon Valley (Pacific Union International) over 3 years ago

     "Zillow is a good starting point..." is what they say.   Sure, if it is a cookie-cutter subdivision with a lot of recent sales. 

     Any other house, get an Appraisal or talk with a local Real Estate Broker for a more accurate opinion of value.

Posted by Fred Griffin, Licensed Florida Real Estate Broker (Fred Griffin Real Estate) over 3 years ago

Good advice Lottie, sometimes it is difficult to talk people into realizing the value of a realtor.  Thanks.

Posted by Bob Crane, Forestland Experts! 715-204-9671 (Woodland Management Service / Woodland Real Estate, Keller Williams fox cities) over 3 years ago

When your thinking about buying or selling real estate in San Francisco call a real estate professional . . . . call Lottie Kendall.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) over 3 years ago

If you live in the San Francisco area and you want an accurate estimate of your homes value call your local expert call Lottie Kendall.

Posted by Nancy Laswick, Your REALTOR® For The Valley Of The Sun (United Real Estate) over 3 years ago

 Good morning Lottie. I take Zestimates  with a grain of salt. They are never accurate.

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) over 3 years ago

Good morning Lottie. You are so right, hopefully all those considering selling speak to a knowledgeable Realtor instead of guessing what their home is worth.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) over 3 years ago

One of four falls into their National 8% error margin Lottie. The other three are scandalously wrong. Now imagine a World without Zestimates. It's a beautiful place.

Posted by Kevin J. May, Serving the Treasure & Paradise Coasts of Florida (Florida Supreme Realty) over 3 years ago

I was talking to a fsbo yesterday and asked him how he came up with the price. He mentioned zesitamate.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 3 years ago

Hi Fred Griffin - we have very few tract homes in our area, so Zillow can't possibly know values here

Bob Crane - I send people a couple of my Zestimate blog posts if they think Zestimates are reality

Thanks, Lou Ludwig!

Posted by Lottie Kendall, Serving San Francisco and the Silicon Valley (Pacific Union International) over 3 years ago

I agree, Michael Thornton , but it's the general public that needs to realize it. I simply show them my blog posts.

You've got it, Joe Petrowsky 

Hi Kevin J. May - that's exactly what my four examples here show. And the one that was within the 8% was priced for a quick sale since the seller had a purchase contingent upon the sale of his house.

Thank you, Nancy Laswick 

You might want to gather real-life info in your area, Gita Bantwal  I  find it helpful to show callers.

 

Posted by Lottie Kendall, Serving San Francisco and the Silicon Valley (Pacific Union International) over 3 years ago

Lottie... I'm inundated with calls about Zesstimates, which are usually wrong. I feel sometimes I just need to record my speech on it and auto-play it.

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (RE/MAX Executive | Charlotte, NC) over 3 years ago

Nina Hollander - I think you hit on the answer: Why not do a short video clip and explain why Zestimates are only that.

Posted by Lottie Kendall, Serving San Francisco and the Silicon Valley (Pacific Union International) over 3 years ago

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