Do You Think That Zillow.com Is Accurate?
Answers:
Absolutely not. First of all, on my home they have inaccurately listed the incorrect square footage. Second, they have the wrong property size. Third, if you refinance your home, take out equity resulting in a higher outstanding mortgage amount, they will use that amount, whether or not you used the money to improve the property. Fourth, they have listed homes in my neighborhood that are builder basic, not upgraded, on smaller property and with less square footage at "estimates" that are way above what they are really worth. Finally, in some areas they only list the property tax assessed value which is usually far beneath the market value.
Other answers:
Zillow is an estimate based on the market in your area. It takes an average of surrounding areas and figures the increase in value from that. I wouldn't say it is 100% accurate but it is a good estimate for your market area.
Zillow is an estimate based on the market in your area. It takes an average of surrounding areas and figures the increase in value from that. I wouldn't say it is 100% accurate but it is a good estimate for your market area.
I think that their assessments are just an approximate value which is the end result of many factors.