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The Tallest Realtor in Town

Hill Country and Highland Lakes Real Estate Blog by Jeff Spears, 6 ' 7" Tall.
Are Online Home Estimates Accurate?

Estimates of value for online real estate listings are very popular with buyers.  It may be the primary reason Zillow has become the most popular real estate website.  They were the first major player to create software to generate their “Zestimates”.


The answer to the question is sometimes.  Estimates can be very accurate, especially in metropolitan areas where many homes are very similar, such as Austin or San Antonio.  The automated systems are derived from sold homes and online tax assessed values, among other things.


In our area, these estimates tend to be less accurate.  We have many, many custom homes that differ greatly.  We have very few cookie cutter neighborhoods.  The unique values of golf course and waterfront properties is another challenge for these online systems.  I have seen that they often do not recognize waterfront properties and therefore estimate them at incredibly low values. Other improvements such as extensive landscaping are also impossible for these online systems to know about or measure.


Estimates are fun to look at, but only a REALTOR can give you the most accurate assessment of your home’s fair market value.  Getting more than one assessment is a smart move for sellers. If you are really curious about the value of your home, please contact a local REALTOR for assistance.


Posted: Tuesday, September 22, 2015 11:02 AM by Jeff Spears

Comments

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# January 22, 2018 10:05 PM
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