When thinking about selling our house - we all go to our favorite search engine and search “How much is my home worth”. It almost always brings us to the same place, ZILLOW.
Ever wondered about that mysterious Zestimate figure on Zillow? It's like a crystal ball for your home's value, right? Where does this come from? How is it calculated? All great questions to ask.
While it can be a helpful starting point, it's not always the whole picture. Let’s Dive In!
What is a Zestimate?
A Zestimate is an estimated market value generated by Zillow, a popular real estate website. It uses a complex algorithm that analyzes various data points, including:
Public property records (square footage, bedrooms, bathrooms, etc.)
Recent sales of similar homes in your area
& Current market trends
The Zestimate is a starting point, not a guaranteed valuation. It's important to understand that the algorithm is not taking into consideration Condition. It is assuming your property is in the same condition as other comparable properties that have recently sold in your area. To get an accurate evaluation of your home - you need to factor in condition and what costs are needed to get your property in similar condition.
How We Use Zestimates
While Zestimates provide a general idea of value, we take a different approach.
We will:
Conduct a thorough property evaluation: We conduct an analysis online based on recent sales and current market trends. We communicate with you to get an overall idea of condition. Then, we'll visit your home and assess its condition, considering factors not always reflected in Zestimates.
Provide a personalized cash offer: Based on our evaluation and market expertise, we'll present you with a fair cash offer for your home.
What a Zestimate Means for You:
Zestimates can be a helpful tool for initial research, but they shouldn't be the sole factor when determining your home's value. Here's what you can do:
Use Zestimates as a starting point: Consider it a ballpark figure and understand its limitations.
Get a professional appraisal: For a more accurate valuation, consider a professional appraisal.
Contact We Buy Houses Southern MN: We offer free, no-obligation consultations to discuss your home's value and explore your selling options.
