[quote=joeypants05]Do many people actually put a whole lot of stock in what the zestimate says? I’m looking at buying a house and I certainly don’t pay much attention to what the estimates on zillow and/or other sites says a property is worth because to me they don’t mean much as the estimate doesn’t represent what a seller is willing to sell for or what a buyer is willing to pay. I simply look at the asking price of a house and what other comparable houses have sold at because those are actual numbers. Do the zestimate and other estimates just fulfill the curiosity of what your house is worth today (much like checking the price of stock that you have no intent of selling) or is there more to it then that?[/quote]
If you tell home owners their homes have gone up in value, they’ll believe you. If you tell them they’ve gone down in value, they won’t. Do Zestimates do more damage than good? I don’t think so, since comps and appraisers bring more credible evidence of values when the time comes to sell. If you want to know what your home is worth, look at comps in your area and don’t forget to deduct selling costs.
