I was representing a homeowner in a recent sale, and we were in escrow on his house. After the buyer’s inspection period, the seller expressed great surprise when the buyer wanted to negotiate the
Take Zestimates With A Grain Of Zalt
Zillow is a great tool. I use it a lot, and I work with home buyers and sellers all the time who use it as well. One thing I’ve noticed a lot is sellers who view the Zillow Zestimate of their home as word from On High. Usually, the Zestimate is a bit inflated, and sellers cling to this number as if it’s the 11th Commandment carved in stone tablets carried off the mountain by Moses: “Thou house shalt be worth this much!” And, who’s going to argue with the 11th Commandment, right?
Well, Zillow is a data company - and a damn good one at that, but nobody from the company has ever walked your streets. They don’t know the level of traffic noise in your neighborhood. They don’t know the age of your roof, or whether your counter tops are formica or granite. They don’t know the quality of your finishes, or the extent of your upgrades.
And all of these things need to be accounted for when determining the value of your house!
On the other hand, your local Realtor is the boots-on-the-ground expert who is familiar with the pros and cons of your location, the walkability of your town, and the condition of your siding. They have been in your house to discuss your goals, your needs, your motivations. They have seen the amount of clutter, and the quality of your upgrades - or lack thereof. They’ve seen what the dog has done to your carpet, and what the kids have done to your once-pristine paint job. And all these things need to be taken into consideration when determining the true market value of your house.
Yes, the numerical data is extremely important. Knowing that a 3BR, 2BA, 1500 SF house sold in the same neighborhood as yours for X amount is a great comp if that matches the specs of your house. But those numbers alone won’t allow you to compare apples to apples, and oranges to oranges. And, while Zillow does a great job of providing those numbers, it’s your local Realtor who will discover the additional data to really hone in on an accurate value when it comes to pricing your home.
Bottom line: Zillow is a great tool to use when shopping for houses, or keeping tabs on what’s happening in your marketplace, but it’s missing some of the essential data points mentioned above that Realtors can provide.
Therefore, home Sellers in particular should take Zestimates with a grain of Zalt.
Want to know what your home is worth? Sign up for a Free Home Valuation at nikolasallen.com/sell to receive local comparative sales data, and contact Mt. Shasta Realtor, Nikolas Allen of J. Harris Associates to discuss additional details specific to YOUR unique property.
In 2015, I bought my first home in Mt. Shasta after decades of renting and fell in love with the experience of home ownership. I got my real estate license so I could help other home buyers and seller....