Wednesday, February 11, 2015

Truth behind Zillow's "Zestimates"

With internet becoming more and more prevalent in how the general public makes decisions about where to eat, find travel deals etc., it’s no surprise that nearly 80% of those in the market for a new home turn to, you guessed it, the internet to get a gauge for their individual homes value. It is very important however that you understand that the ‘Zestimates’ are often inaccurate. 

It is also important to note that this is NOT intended to be negative about what services Zillow provides.  In fact part of our marketing includes posting our client’s homes on websites such as Zillow and Trulia. 

The Take – away:  Be careful when making financial decisions based on what websites say your property is worth.  Much data is based on averages, and if there are lower priced properties in the same Zip Code, then that could cause an inaccurate assessment of your properties value. 

We hope that this information is helpful and please let us know if you have any other questions about the current market we are in. 

Our goal is to provide property owners with information necessary to make accurate financial decisions, so please give our expert team a call for an evaluation of your properties most current value.  

Rahul and Smitha Ramchandani are a licensed real estate Broker-Salesperson/Sales Representative Team with Keller Williams in New Jersey. They are Buyer Specialists and Home Marketing Experts. Their team specializes in North Central New Jersey including towns such as BoontonChathamChesterConvent StationDenvilleEast HanoverFlorham ParkHanoverHarding Twp.MendhamMontvilleMorristownMorris PlainsMorris Twp.Mountain LakesParsippanyRandolphRockawayWhippany | | |