Overland Park KS Homes for sale & Johnson County Real Estate Blog: Are you using Zillow to determine your homes value?

Are you using Zillow to determine your homes value?

For many homeowners the first thing they do when considering to sell their home is to try and figure out what their home may be worth? 

Prior to the internet there were really only 2 ways to get a good idea of your homes value. You could pay really close attention to what your neighbors home SOLD for or meet with a local Realtor and have them offer you an opinion of value.

That all changed with the introduction of Zillow and their zestimate. A zestimate is their online evaluation model that uses many factors to come up with a opinion of your homes value. This free tool is easy to use and you can get the zestimate anonymously without any signing in or entering any information.

While the convenience of instant value is very gratifying, the question you need to ask is, how accurate is their zestimate? Well, according to their own reporting the average discrepancy is between 5-9.5% and even higher in some cases.

As a matter of fact, Zillow CEO Spencer Rascoff SOLD his home in Seattle for 1.05 Million Dollars , Zillows zestimate on his home was 1.75 Million, a full 40% higher than its selling price.

So what can that mean for your home? Based on the average sales price of a home in Johnson County Kansas of $250,000, your zestimate could be off by $12,500 to $23,750. That’s an awful lot of money. 

Do you want to get an honest and accurate value for your home? Trust a local real estate professional!

Start Here: Free No Obligation Home Evaluation

More: Search All Johnson County Kansas Homes For Sale

 

 Mike Russell is a REALTOR with Keller Williams Realty. Mike specializes in Johnson County Kansas Homes and Real Estate for sale. Mike is a tech savvy realtor with over 17 years experience. Did you enjoy Mike's Blog? Feel free to subscribe or join Mike on his Social Network to stay up to date on Overland Park, Olathe, Leawood, Lenexa, Shawnee and all of Johnson Counties real estate news and more...

Mike Russell & Associates can be reached at 913-266-5828 or MRussell@KW.com  or www.SearchjocoHomes.com

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Comment balloon 2 commentsMike Russell • February 26 2018 06:45PM

Comments

Evenzillows CEO said that they were off by as much as 20 percent

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) about 2 months ago

Zillow is right once in a while, just like a broken clock. Sad!

Posted by Pete Xavier with X Group Real Estate Advocates, Outstanding Agent Referrals-Nationwide (Investments to Luxury) about 2 months ago

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