Menu
My New Blog
Is ZIllow.com a Reliable Source For Home Values?
April 19th, 2023 12:00 PM
When it comes to valuing a home, many homeowners turn to online tools like Zillow to get an estimate of their property's worth. While these estimates can be useful, they are not always accurate. That's why hiring a professional real estate appraiser is more valuable and accurate than relying on Zillow.com estimates.
Here are a few reasons why:
Appraisers are licensed professionals
Real estate appraisers are licensed professionals who are trained to determine the value of a property. They have undergone rigorous training and are required to adhere to a strict code of ethics. Zillow, on the other hand, is an algorithm-based website that uses publicly available data to estimate the value of a property. While their estimates can be a helpful starting point, they should not be relied upon as the final word.
Appraisals are customized to your property
One of the biggest drawbacks of Zillow's estimates is that they are based on data from comparable properties in the area. While this can be a useful starting point, it does not take into account the unique features of your home. A professional real estate appraiser will visit your property and evaluate its unique features, such as upgrades, renovations, and other improvements that may impact its value.
Appraisals are more accurate
Zillow's estimates are based on publicly available data, which means they may not have access to all the relevant information about your property. For example, they may not be aware of recent renovations or upgrades that could increase your home's value. A professional real estate appraiser will have access to more accurate and up-to-date information about your property, which will result in a more accurate appraisal.
Appraisals are accepted by lenders
If you are buying or selling a property, a lender will typically require an appraisal to be performed by a licensed professional. Lenders rely on these appraisals to determine the value of the property and the amount of money they are willing to lend. Zillow's estimates are not accepted by lenders and should not be relied upon in a real estate transaction.
Appraisals provide a detailed report
A professional real estate appraiser will provide a detailed report that outlines how they arrived at the value of your property. This report will include information about the property's features, the comparable properties used in the appraisal, and any other relevant information. This report can be useful if you are buying or selling a property and need to justify the asking price.
While Zillow's estimates can be a helpful starting point, they should not be relied upon as the final word on the value of your property. Hiring a professional real estate appraiser is more valuable and accurate because they are licensed professionals, their appraisals are customized to your property, they have access to more accurate information, their appraisals are accepted by lenders, and they provide a detailed report.
Posted in:
Zestimate vs Real Appraisal
and tagged:
zillow.com
Posted by Nick Hughes on April 19th, 2023 12:00 PM
Leave a Comment
Subscribe to this blog
Leave a Comment
*
Name:
*
Email Address:
URL:
Comment:
Address:
City:
State:
Characters from the image above:
Subscribe To My Blog
*
Name:
*
Email Address:
Address:
City:
State:
Zip:
Characters from the image above:
Recent Posts:
Minneapolis 2040 Plan: Navigating Real Estate Impacts with Hughes Appraisals, LLC
How Knowing Your Home's Worth Helps You Tackle Big Changes with Ease
Navigating Property Sales and Inheritance: The Crucial Role of Professional Appraisals
The 2024 Real Estate Outlook: Navigating the Market with Hughes Appraisals, LLC
Navigating Family Estate Decisions This Thanksgiving: How Hughes Appraisals, LLC Can Help
Maximizing Your Home Sale in Minneapolis's Evolving Market with Hughes Appraisals, LLC
Navigating Minneapolis’s Zoning Changes: The Importance of Expert Appraisal
The Importance of a Professional Appraisal in Real Estate
Who Hires the Real Estate Appraiser? Understanding the Different Clients in Residential Real Estate Appraisal
The Smart Move for FSBO Listings: Why Getting an Appraisal is a Game-Changer
Archives:
March 2023
Inventory shortage and rising prices in some metro area markets.
Going through a divorce?
August 2023
Navigating Listing Price Disagreements: How Hughes Appraisals, LLC Elevates Your Listings
July 2023
The U.S. Housing Market: Navigating a Cooling Phase with Optimism
Handling a Potentially Undervalued Home Appraisal: A Guide to the Reconsideration of Value Request (ROV)
June 2023
Unlock Your Savings Potential: Remove PMI Insurance with Ease
Why Accountants Handling Estates Benefit from Hughes Appraisals, LLC's 20 Years of Expertise
May 2023
The Role of Comparable Sales in Home Appraisals: Understanding the Key Factor
The Risks of Relying on AVMs like ClearAVM for Real Estate Valuations
Family Estate Settlement
April 2023
Design Styles Found in Minneapolis
Is ZIllow.com a Reliable Source For Home Values?
Need help deciding on a list price?
Tips to Increase Your Home's Appraisal Value: Boosting Your Property's Worth
What laser measuring tool should I choose?
August 2023 (1)
July 2023 (2)
June 2023 (2)
May 2023 (3)
April 2023 (5)
March 2023 (2)
Categories:
Appraiser Tools (1)
Automated Valuation Models (1)
Design Styles (1)
Divorce Appraisals (1)
Estate Appraisals (3)
General (13)
Listing Price (1)
Minneapolis Real Estate (1)
PMI (1)
Real Estate Market (1)
Zestimate vs Real Appraisal (1)
My Favorite Blogs:
Sites That Link to This Blog: