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Are Zillow’s Zestimates accurate?
Everyone knows about Zillow’s Zestimate’s and millions of users look them up, but how accurate are they and can you use them at face value?
The key items to remember after watching this video are the following:
- Zillow’s website describes Zestimates as a starting point. It should not be used a a final sales price. They also encourage discussing the home price with a professional.
- Zillow has not been inside your home and does not know the specifics such as location, lot shape, functional layout, views, upgrades, traffic patterns, and walkability.
- Zillow’s Zestimate uses data points from homes in a much larger geographical area than your neighborhood. Each neighborhood has its own characteristics and desirability though, which also need to be taken into account.
- Zillow’s Zestimate does not take into account the current market conditions i.e. the other comparable homes for sale at the same time as your home, and how your home compares in price, condition, and location. That will help you ensue you are positioned for success!
Please remember to always partner with a knowledgeable professional who will look out for your best interests, from start to finish!
Questions? Comments? I’m happy to help.
Caroline
What is a home warranty?
A home warranty is very different than a homeowner’s insurance. While homeowner’s insurance covers damage to your home, a home warranty will cover the appliances and systems in your home, including but not limited to your refrigerator, oven, garbage disposal, microwave, dishwasher, water heater, furnace, A/C, plumbing, sewer line, pool.
There are various plans and options to choose from depending on what you are looking to get covered. Often times, the cost of replacement your appliance or system is higher than the yearly cost of maintaining a home warranty. Your decision may also depend on whether all your appliances and systems are new and still under manufacturer warranty.
There is typically a service call fee each time you submit a claim for someone to come out and look at your defective item, and it can range anywhere from $60-75/call depending again on which home warranty company you choose.
This table extracted from Home Warranty of America‘s brochure shows the cost of replacement of common items:
There are many home warranty providers to choose from, and it’s a good idea to compare your options to see what makes most sense to you.
I’m always happy to help if you have any questions or need a recommendation!
Caroline
