Here’s why your home’s value might be worth more than its Zestimate.

Many homeowners rely on online estimations such as Zestimates to find out how much their homes are worth. It’s a convenient tool, but it’s not always the most accurate one. Today I want to go over why your home’s market value might be higher than its Zestimate. 

Recently, I met a couple who were considering selling their home. I asked them how much they thought their home was worth, and they gave me a number that seemed low. I asked them where they came up with the number, and they said it was a Zestimate. Based on my market research, their home was worth thousands of dollars more than their online estimate. 

“If you meet with a professional team like mine, we have the tools necessary to gather the necessary data for a direct comparison.”

Why is this? Well, the couple had recently redone their basement and added square footage to the home. The Zestimate didn’t take this into account. This is because Zestimates are based on an algorithm that takes all homes that have sold in an area to find an average home value. This algorithm tends to be inaccurate because it neglects the condition, size, and special features of a home. Also, if you live in an area with vastly different homes, the Zestimate average will be more off than usual. 

As an experienced real estate agent, I believe the only way to get a truly accurate evaluation of your home is to do a strict apples-to-apples comparison. What I mean by this is that you should look at similar homes in your area that have sold in the recent past. If you meet with a professional team like mine, we have the tools necessary to gather the necessary data for a direct comparison. 

We factor the size of your home, unique features, and local competition to bring you a more accurate estimate of your home’s value. We also have the experience to factor in market trends. Even if you don’t have a finished basement, your home almost certainly has features that increase its marketability. We can help you get the most out of them. 

Hopefully, this cleared up some confusion around Zestimates. If you would like to know the true value of your home, call or email us today to receive a free, no-obligation consultation. We look forward to hearing from you.