Author: Tom Horn

Although Zillow claims that the Zestimate is not an appraisal it appears that the majority of the public considers them as such. In my conversations with local real estate agents I hear countless stories about how home sellers believe in the Zestimate, and because of this, they pressure the agent to list the home for the value given, especially if it is higher than what the agent believes they can sell it for. Zestimate vs. Appraisal Because so many people do see the Zestimate as an appraisal I thought I would take a look at how the two compare when...

Have you ever wondered how accurate the Zillow “Zestimate” really is? In this video, Tom Horn explains how to determine the accuracy of Zillow in an area. Zillow has gone back in time to compare their historic Zestimate with what the property actually sold for. They claim that their “estimated market value” is not an appraisal, but in reality an estimate of market value is an appraisal, but it’s one that cannot be used by a bank and one that you may want to think twice about before using to determine a sales price for your home. They provide a...