Quote:
Originally Posted by ted
I was told Zillow uses the sale price on a home to help calculate the value.
If your home was bought a long time ago your estimate will be less accurate.
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Exactly. I’d bet the team that owns the zestimate has no clue that the home buying team even looked at that house. The zestimate is based off recent sales, so it will always spike when a home has recorded a sale recently. It’s the same reason my zestimate shows about 80k lower than the exact same house down the street in similar condition. That one just sold this year, mine hasn’t sold in years.
I don’t feel like the zestimate is super accurate, but I doubt there’s some grand conspiracy going on, the home market is just nuts. Most homes I’ve seen sold lately sold wayyyy over their zestimate