The «Increasing Values (%)» dataset will have a bunch of accuracy issues as well, just
like Zestimates or any other home value estimates.
Not exact matches
First, the algorithm that sites
like Zillow, Trulia, etc. use for their estimates (ex:
Zestimate) are unable to determine which neighborhoods within a 2 - mile radius are the most similar.
Like many things in life, don't take
zestimates at their word and think there is some hard fact science behind the number.
Zestimates of value as Zillow
likes to call them are completely inaccurate most of the time but this discussion is not about that.
If you built a new bathroom, that could be added to your profile, which would likely increase your
Zestimate, since this estimate is based on things
like the number of bathrooms in a home and how it compares to similar properties.
Like the Zillow Rent
Zestimate, our estimated rent price should be used as a starting point.
Zillow would
like for Realtors to believe that they are partners and co-laborers in the Real Estate industry, but until Zillow recognizes the harm they inflict upon sellers with their grossly misleading «
Zestimates» and the agents that have to convince them otherwise you will continue to be looked upon as contrary and negatively impacting the home value estimation part of this industry, an enemy to it if you will.
If you are thinking of selling your home anytime soon, it would be a good idea to learn as much as possible about Zillow's
Zestimate, because
like it or not, many home buyers use it as a measuring stick regarding a home's actual value.
I've seen
zestimates skyrocket just as soon as a house goes up for sale, the RE agent doesn't
like the true
zestimate, so they up the value substantially which is about what the new asking price is.