There is no doubt that Zillow and the “zestimate” they provide has been the cause of a lot of head pounding in the real estate community. Almost any discussion with a Northern Virginia seller will include the phrase “Zillow says my home is worth….”
Imagine now you are the CEO of Zillow and you want to sell your home. The “zestimate” for your home is $1,634.176 Your REALTOR® tells you the market value for your home is $1,295,000. Cough cough but that’s over $339,176,000 LESS than my “zestimate.” The good news is after 2 price reductions the house is under contract. When it closes there likely will be an adjustment to the “zestimate” for the new owner.
Zillow has done a number of good things since it came roaring into the real estate world. However the accuracy of the “zestimate” hasn’t been one of them. If you are thinking of selling your home in Northern Virginia consider this. If the CEO of Zillow doesn’t list his home based on the “zestimate” should you?
Give me a call and we can look at the “zestimate” and then the reality of the Northern Virginia market. Let’s price your home to sell.