How a ‘Kestimate’ Can Help You Find Your Home Value

There are a few reasons why Zillow’s Zestimates are often incorrect. The best way to find your true home value is to order a ‘Kestimate!’ 

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What’s up with the Zillow Zestimate? Many people come up to me and say, “I looked at my home on Zillow and it said that the price was such-and-such amount. Is that right?”

The other day, I was on Anna Valencia’s radio show and we actually talked about a few reasons why the Zestimate is usually not on point.

One reason is that Zillow’s numbers come from the county tax records. If your tax record is incorrect, then Zillow won’t come up with your actual home value. What if your tax record doesn’t include the right number of rooms in your house? What if you added a detached garage? What if you put a brand new $50,000 roof on your house last month or did an $80,000 kitchen remodel? Zillow won’t take any of this into account.

Ultimately, Zillow is a computer algorithm that doesn’t know what you’ve done to improve your home. The Zestimate basically looks at your square footage, the number of rooms in your home (as recorded back when your house was first built), and any comparable sales that might have taken place in your area. If there were any distressed sales or hardship sales in your area, these comparable sales could drag your Zestimate down.

The best way to find your true home value is to get a ‘Kestimate!’

We had a good time joking around in the studio the other day about the Zestimate. In the end, we decided that the best way to find your true home value is to get a “Kestimate!” That is a Kelly estimate!

Basically, you need your local real estate professional to come up with your home value. Work with someone who is familiar with the market and is in tune with what’s going on. As real estate professionals, we will come over and give you a personal evaluation of your home. Don’t leave it up to a computer algorithm that knows nothing about your local area or even your specific home.

If you would like a “Kestimate,” give us a call or send us an email. If you have any other real estate questions, please don’t hesitate to reach out. We would be happy to help you!