Home sellers with
low Zestimates will tend to immediately dismiss them as inaccurate.
I bet the vast majority of the people making those searches have
low Zestimates.
Low Zestimates can certainly complicate things for home sellers but, counterintuitively, high Zestimates can be even more damaging to home sellers, that is, if the sellers actually believe those high Zestimates.
I'm afraid, however, that I'm not going to be able to stop home sellers from falling in love with high Zestimates and I'm not going to be able to stop home buyers from feeling fear when offering fair market value for homes that have
low Zestimates.
If you're reading this, however, you probably have
a low Zestimate.
You're starting to wonder if
the low Zestimate explains the lowball offer you got or why your home hasn't sold yet.
It can be frustrating if one's home gets
a low Zestimate.
Not exact matches
By analyzing information on thousands of single family homes for sale in
Lower East Side, Wisconsin and across the United States, we calculate home values (
Zestimates) and the Zillow Home Value Price Index.
Half of that 10 % are
Zestimates that are too high by 20 % or more, and half are
Zestimates that are too
low by 20 % or more.
The typical Zillow
Zestimate error is $ 14,000, but you don't know if it's $ 14,000 too high or $ 14,000 too
low.
However, he added that if the
Zestimate of the home had been
lower than its listing price, buyers might have been inclined to think the listing was overpriced.
Zillow often lacks accurate information about a home, which can cause Zillow to calculate a
Zestimate that is
lower than it should be.
What Zillow often lacks is accurate up to date information about a home, which can cause Zillow to calculate a
Zestimate for a home that is
lower than it should be due to a lack of information about what the home actually has as far as amenities.