{"id":8004,"date":"2022-09-16T14:11:00","date_gmt":"2022-09-16T19:11:00","guid":{"rendered":"https:\/\/theralphieandryanshow.com\/?p=8004"},"modified":"2023-01-03T02:12:32","modified_gmt":"2023-01-03T08:12:32","slug":"are-zestimates-accurate-the-truth-about-zillows-home-values","status":"publish","type":"post","link":"https:\/\/box5915.temp.domains\/~theralph\/are-zestimates-accurate-the-truth-about-zillows-home-values\/","title":{"rendered":"Are Zestimates Accurate? The Truth About Zillow&#8217;s Home Values!"},"content":{"rendered":"\n<p>When it comes to your home, you want to know that you are getting the most accurate estimate possible. You may have heard of Zestimates from Zillow- they are one of the most popular home value estimators on the internet. <\/p>\n\n\n\n<p>Are Zestimates Accurate? Studies have shown that Zillow&#8217;s <a href=\"https:\/\/theralphieandryanshow.com\/does-fresh-paint-increase-home-value\/\" target=\"_blank\" rel=\"noopener\">home values<\/a> are within <strong>20% of the actual value around 50% of the time.<\/strong> So while they aren&#8217;t perfect, they are a good starting point.<\/p>\n\n\n\n<p>According to Zillow, it covers over 42,000 homes across the <a href=\"https:\/\/theralphieandryanshow.com\/how-many-chicago-suburbs-are-there\/\" target=\"_blank\" rel=\"noopener\">Chicagoland area<\/a> and is only <strong>75% of the time accurate within 5%.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"How Accurate Is Zillow Home Zestimate? Chicago Real Estate\" width=\"500\" height=\"281\" data-src=\"https:\/\/www.youtube.com\/embed\/hZOSaMviUGk?start=80&#038;feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe>\n<\/div><figcaption class=\"wp-element-caption\">The True About Zestimates!<\/figcaption><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6729d682ddc06\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6729d682ddc06\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/box5915.temp.domains\/~theralph\/are-zestimates-accurate-the-truth-about-zillows-home-values\/#How_does_Zillow_Determine_Home_Values\" title=\"How does Zillow Determine Home Values?\">How does Zillow Determine Home Values?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/box5915.temp.domains\/~theralph\/are-zestimates-accurate-the-truth-about-zillows-home-values\/#How_Accurate_are_Zillows_Home_Values\" title=\"How Accurate are Zillow&#8217;s Home Values?\">How Accurate are Zillow&#8217;s Home Values?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/box5915.temp.domains\/~theralph\/are-zestimates-accurate-the-truth-about-zillows-home-values\/#How_to_Get_a_More_Accurate_Home_Value_from_Zillow\" title=\"How to Get a More Accurate Home Value from Zillow\">How to Get a More Accurate Home Value from Zillow<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/box5915.temp.domains\/~theralph\/are-zestimates-accurate-the-truth-about-zillows-home-values\/#The_four_things_that_sell_your_Home_for_the_highest_price\" title=\"The four things that sell your Home for the highest price\">The four things that sell your Home for the highest price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/box5915.temp.domains\/~theralph\/are-zestimates-accurate-the-truth-about-zillows-home-values\/#Have_Questions_Ask_The_Velasco_Reynolds_Team\" title=\"Have Questions? Ask The Velasco Reynolds Team!\">Have Questions? Ask The Velasco Reynolds Team!<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_does_Zillow_Determine_Home_Values\"><\/span><strong>How does Zillow Determine Home Values?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Ever wonder how Zillow comes up with these numbers? They don&#8217;t just pull them out of thin air- there is a method to the madness. Zillow&#8217;s home values are determined by considering many different data points. <\/p>\n\n\n\n<p><strong>This includes public records, real estate transactions, and even user-submitted information. They then use special algorithms to come up with a final number.<\/strong><\/p>\n\n\n\n<p>Redfin and Zillow&#8217;s estimated values cover about 100 million homes nationwide.<\/p>\n\n\n\n<div style=\"text-align:center\" class=\"wp-block-genesis-blocks-gb-button gb-block-button\"><a href=\"https:\/\/theralphieandryanshow.com\/best-tips-to-sell-your-home-quickly-and-for-the-highest-price\/\" class=\"gb-button gb-button-shape-rounded gb-button-size-medium\" style=\"color:#ffffff;background-color:#3373dc\" target=\"_blank\" rel=\"noopener\">Best Tips To Sell Fast For Highest Price<\/a><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Accurate_are_Zillows_Home_Values\"><\/span><strong>How Accurate are Zillow&#8217;s Home Values?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>So now that we know how they come up with the numbers, how accurate are Zillow estimates?  <\/strong>Studies have shown that Zillow&#8217;s home values are within <strong>20% of the actual value around 50% of the time.<\/strong> <\/p>\n\n\n\n<p>So while they aren&#8217;t perfect, they are a good starting point.<\/p>\n\n\n\n<p>According to Zillow, it covers over 42,000 homes across the Chicagoland area and is only <strong>75% of the time accurate within 5%.<\/strong> Other areas have different statistics, and your location will also vary the accuracy of the Zestimate.<\/p>\n\n\n\n<p>For example, if your subdivision or town has a lot of activity and relatively similar homes throughout. Zestimate will be fairly accurate. However, the number will be less accurate if your home is unique or in an area with very few home sales.<\/p>\n\n\n\n<div style=\"text-align:center\" class=\"wp-block-genesis-blocks-gb-button gb-block-button\"><a href=\"https:\/\/theralphieandryanshow.com\/how-to-increase-your-homes-appraised-value-a-realtors-advice\/\" class=\"gb-button gb-button-shape-rounded gb-button-size-medium\" style=\"color:#ffffff;background-color:#3373dc\" target=\"_blank\" rel=\"noopener\">How to Increase your Homes Value!<br>CLick here!<\/a><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Get_a_More_Accurate_Home_Value_from_Zillow\"><\/span><strong>How to Get a More Accurate Home Value from Zillow<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>You can do a few things to help ensure your home&#8217;s value is as accurate as possible on Zillow. First, make sure your home facts are up-to-date and accurate. This includes the number of bedrooms and bathrooms, square footage, and any recent updates or renovations.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote has-text-align-center is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Your best, most accurate estimate is going to come not from a computer sitting in a warehouse but from a local real estate agent that will be able to walk your property and see what makes your homes stand apart and what a buyer in today&#8217;s market would be willing to pay for your home.<\/p>\n<\/blockquote>\n\n\n\n<p>If you&#8217;re considering <a href=\"https:\/\/theralphieandryanshow.com\/6-steps-to-selling-a-home-in-illinois\/\" target=\"_blank\" rel=\"noopener\">selling your home<\/a>, the first step is to get an accurate estimate of your home&#8217;s value. <strong>Zillow&#8217;s Zestimate can be a good starting point, but remember that it is just an estimate.<\/strong><\/p>\n\n\n\n<p>Remember, Zillow, at one time, was buying homes from what the Zestimate algorithm was projecting; it led to Zillow buying over-valued properties and losing over $230 million. I guess computers can&#8217;t do everything yet.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_four_things_that_sell_your_Home_for_the_highest_price\"><\/span><strong>The four things that sell your Home for the highest price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Briefly, I want to tell you what will sell your home for the highest price; ultimately, the Zestimate is just an estimate of what your property could sell for. To make sure you get all the equity out of your investment that you deserve. Here are the four most essential things to remember when selling your property:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Presentation- <\/strong>Presentation is everything; it&#8217;s the first impression. This is a big one; you want the buyers to be able to envision themselves living there. If your home doesn&#8217;t have good curb appeal, it will sell for less than it could.<\/li>\n\n\n\n<li><strong>Pricing-<\/strong> You don&#8217;t want to overprice or underprice your home. Remember, you are not just selling to one person; you are selling to the market. The market will determine your home value, no matter how much you or your agent thinks it&#8217;s worth.<\/li>\n\n\n\n<li><strong>Marketing-<\/strong> Marketing is the overdrive of home sales. How more exposure your home has to every qualified, capable, and willing buyer, the more offers. Ultimately getting the best results.<\/li>\n\n\n\n<li><strong>Your Agent- <\/strong>How your agent negotiates for you, the fees they charge you, the marketing they do for you. It all has an impact on your home&#8217;s sales price.<\/li>\n<\/ol>\n\n\n\n<p>Make sure you choose the right <a href=\"https:\/\/theralphieandryanshow.com\/\" target=\"_blank\" rel=\"noopener\">real estate agent for the job if you are in the Chicagoland area and looking for real estate services<\/a>. Please reach out to me; you can call or text. <\/p>\n\n\n\n<p><strong>For a more accurate number, contact a local <a href=\"https:\/\/theralphieandryanshow.com\/the-1-rule-in-real-estate\/\" target=\"_blank\" rel=\"noopener\">real estate<\/a> agent. They or I can give you a more accurate estimate based on your home&#8217;s unique features and the current market conditions.<\/strong> You can set up a video conference with the link below to discuss your home and its estimated value.<\/p>\n\n\n\n<div style=\"text-align:center\" class=\"wp-block-genesis-blocks-gb-cta gb-block-cta\"><div class=\"gb-cta-content\"><h2 class=\"gb-cta-title gb-font-size-32\" style=\"color:#32373c\"><span class=\"ez-toc-section\" id=\"Have_Questions_Ask_The_Velasco_Reynolds_Team\"><\/span>Have Questions? Ask The Velasco Reynolds Team! <span class=\"ez-toc-section-end\"><\/span><\/h2><div class=\"gb-cta-text gb-font-size-32\" style=\"color:#32373c\"><p>Give us a call to learn more about local areas, discuss selling a house, or tour available homes for sale.<\/p><\/div><\/div><div class=\"gb-cta-button\"><a href=\"tel:+ 16305349357\" target=\"_self\" rel=\"noopener noreferrer\" class=\"gb-button gb-button-shape-rounded gb-button-size-medium\" style=\"color:#ffffff;background-color:#3373dc\">1-630-534-9357<\/a><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>When it comes to your home, you want to know that you are getting the most accurate estimate possible. You may have heard of Zestimates from Zillow- they are one of the most popular home value estimators on the internet. Are Zestimates Accurate? Studies have shown that Zillow&#8217;s home values are within 20% of the [&hellip;]<\/p>\n<p><a href=\"https:\/\/box5915.temp.domains\/~theralph\/are-zestimates-accurate-the-truth-about-zillows-home-values\/\" class=\"more-link\" title=\"Read More\">Read More<\/a><\/p>","protected":false},"author":3,"featured_media":8007,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"rank_math_lock_modified_date":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36,90],"tags":[44,41,204],"class_list":{"0":"post-8004","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-buying-a-home","8":"category-selling-a-home","9":"tag-best-chicago-suburb","10":"tag-chicago-suburbs","11":"tag-zillow-zestimates","12":"entry"},"aioseo_notices":[],"jetpack_sharing_enabled":true,"featured_image_src":"https:\/\/i0.wp.com\/box5915.temp.domains\/~theralph\/wp-content\/uploads\/2022\/09\/Zestimates-Accurate.png?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/box5915.temp.domains\/~theralph\/wp-content\/uploads\/2022\/09\/Zestimates-Accurate.png?resize=600%2C600&ssl=1","author_info":{"display_name":"Rafael Velasco","author_link":"https:\/\/box5915.temp.domains\/~theralph\/author\/rafael-velasco\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/box5915.temp.domains\/~theralph\/wp-content\/uploads\/2022\/09\/Zestimates-Accurate.png?fit=1278%2C717&ssl=1","_links":{"self":[{"href":"https:\/\/box5915.temp.domains\/~theralph\/wp-json\/wp\/v2\/posts\/8004"}],"collection":[{"href":"https:\/\/box5915.temp.domains\/~theralph\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/box5915.temp.domains\/~theralph\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/box5915.temp.domains\/~theralph\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/box5915.temp.domains\/~theralph\/wp-json\/wp\/v2\/comments?post=8004"}],"version-history":[{"count":6,"href":"https:\/\/box5915.temp.domains\/~theralph\/wp-json\/wp\/v2\/posts\/8004\/revisions"}],"predecessor-version":[{"id":9560,"href":"https:\/\/box5915.temp.domains\/~theralph\/wp-json\/wp\/v2\/posts\/8004\/revisions\/9560"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/box5915.temp.domains\/~theralph\/wp-json\/wp\/v2\/media\/8007"}],"wp:attachment":[{"href":"https:\/\/box5915.temp.domains\/~theralph\/wp-json\/wp\/v2\/media?parent=8004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/box5915.temp.domains\/~theralph\/wp-json\/wp\/v2\/categories?post=8004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/box5915.temp.domains\/~theralph\/wp-json\/wp\/v2\/tags?post=8004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}