Almost everyone starts their search for the new home inside their old home. For those who have a plan to buy or sell a house, you are very likely lying on the couch with your device, looking at some online real estate website like Zillow, or entering the information of your home on the site.
While you are poring over every picture of your home and examining something such as how many bedrooms or square feet your home has, the one number you will pay the most attention to is the price. It is normal. When you are selling your home, you must want to know what your home might fetch on the market before you list it or to get too far as long in your own home search.
In the world of Zillow, there is a thing called Zestimate that can help you to know how much is your house worth. According to the official website of Zillow, the Zestimate home valuation is the estimated market value of Zillow. This one is computed using the proprietary formula. You have to take a note that this one is not an appraisal. Zestimate is more like a starting point in determining the value of a home. Zestimate will calculate from public and user-submitted data, taking into account special features, location, and market conditions. Zillow encourages every buyer, every seller, and every homeowner to supplement the information of Zillow by doing the other research such as getting the comparative market analysis or CMA from the real estate agent, getting the appraisal from the professional appraiser, visiting the house whenever possible.
To make the Zestimate more accurate, please update the facts of your home.
How to check how much is your house worth using Zestimate? The first thing that should be done is to open the official website of Zillow. When you are in the homepage, you will be able to see some menus that placed at the top of the homepage. Point out your cursor to the “Sell” one. this menu has a sub menu which is “Selling tools”. Once you see this sub menu, click “See your home’s Zestimate”. By doing this step, you will be directed to the page to estimate your belonging. In that page, all you have to do is to enter your home address in the search bar and then press the blue “Get started” button to see how much is your home worth.
Is Zestimate offered by Zillow accurate? How accurate it is tool? As stated on the official website of Zillow, the accuracy depends on some things such as the location and the availability of data in a certain place. Apparently, there are several counties that have detailed information on homes, including the number of bedrooms, bathrooms, the square footage, and so on. If the data is more available, the value shown by Zestimate will be more accurate. In addition, the accuracy of Zillow has the median error rate of 4.6%. It means that half of the values of home in the surrounding areas are closer than the error percentage.