We always get this question, “Should I trust Zillow?”
Let’s put it into perspective. Would you marry someone without ever seeing them? Let’s just say you had a really good idea of what they were like, how they looked, but you never actually spoke to them and you never saw them. Would you marry them? No way! Absolutely not.
That’s sort of like trusting Zillow to value your home. You see, Zillow is an algorithm based on public data, Zillow has never seen the inside of your home.
Zillow comes up with a value based on what your neighbors are selling their homes for. They look at things like size, number of bedrooms, number of bathrooms, lot size, et cetera and they compare that to your neighbors. But things they can’t take into consideration are upgrades, views, location. All of these factors have a huge impact on the value of your home.
Zillow even acknowledges their lack of accuracy, stating that in the US as a whole, “Zestimates are currently within 10% “of the final sales price 71.5% of the time.” And they encourage you to get a more accurate evaluation by either a licensed realtor or an appraiser. That’s why you need our team, we live and play in this area and we’ve sold hundreds of homes in the area and we know how to price homes.
Here’s an example of a few costly mistakes that could have been made if our past sellers relied on Zillow’s Zestimate. Take this one on 9249 Phinney Avenue North in the Greenwood neighborhood. The Zestimate was $645,000 and we listed and sold this home for $735,000. That is a $90,000 difference. And what about this craftsman cutie near the U District. The Zestimate on this home was 775,000 and we sold it for 825,000. Again a $50,000 difference in our favor. And lastly, 514 North 137th Street near Bitter Lake. The Zestimate on this house was $640,000 and we just went on the market at 699 and received an offer after just three days on the market. So as you can see, Zillow is not the best resource to figure out how much your home is really worth.
You need to call a professional who has experience and the ability to assess the value of your home based on the current market conditions, and of course the current condition of your home.