Mark Lomas and Kirsten Wolfe

The Ironic Truth About Zillow Zestimates

It’s true, Zillow’s CEO Spencer Rascoff, sold his home for 24% less than what it said on his website.

Zillow’s “Zestimates” can be tweaked if you know how to add improvements to Zillow’s valuation methodology. You need to be the owner, or owner’s agent to do this, or an unscrupulous hacker. Actually, you don’t even need to be a hacker, anyone can do it. Zillow does offer valuable information they gather from Public Records. But, you’re not going to get a bank to loan you money based on a Zillow “Zestimate.”

Where homes are very similar (condos/townhomes) sometimes Zillow’s “Zestimates” can be helpful. But, if you live in an area where the home styles vary, for real estate agents (your best source for what the true value of your property is) Zillow’s “Zestimates” can drive you crazy. Many home sellers and buyers  give credence to Zillow’s “Zestimates.”  Unfortunately the degree of accuracy of Zillow’s “Zestimates” can vary dramatically from neighborhood to neighborhood. To real estate professionals is what makes this video so hilarious, and wonderfully ironic…enjoy!

 

Share this:
Mark Danforth Lomas

Recent Posts

First Quarter 2025 Statistics

Santa Barbara's real estate market in early 2025 has shown resilience, but signs of softening…

2 weeks ago

How Tariffs Will Impact Real Estate

President Trump's new tariffs are expected to significantly affect the real estate market. Here's a…

2 weeks ago

Curious California Real Estate Factoids for 2025

 March 19, 2025: Home sales are down in California, and prices are rising, with a…

4 weeks ago

Southern Santa Barbara Real Estate March Overview

Southern Santa Barbara, stretching from Carpinteria to Gaviota, offers a unique blend of coastal charm…

4 weeks ago

“Live” Santa Barbara Real Estate Statistics

The southern Santa Barbara's real estate market offers a fascinating glimpse into the dynamic interplay…

1 month ago

Southern Santa Barbara Real Estate Insights

In 2024 the southern Santa Barbara real estate market saw a 16% increase in inventory.…

2 months ago