What Should You Know About Zillow’s Zestimates?

Albuquerque, NM Real Estate Video Blog with The Venturi Team

Are Zestimates really the best way to find your home’s value? We recently discussed the topic on Facebook Live.

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We recently participated in a great Q&A on Facebook Live where we talked about online home estimates, specifically Zillow’s Zestimates, and how accurate they are here in Albuquerque. We had a wide-ranging discussion on the topic. Here’s an outline of what we talked about, with timestamps so that you can skip ahead to the section(s) that interest you most:

0:50 - Are Zillow’s Zestimates accurate in New Mexico?
2:20 - How much are Zestimates off by on average in different areas of the country?
3:45 - The origins of online estimates and their mathematical shortcomings when it comes to valuing homes.
6:00 - A few examples of some real New Mexico homes and the discrepancies between their actual home values and their online Zestimates.
6:30 - When are Zestimates useful? Are they useful at all?
7:45 - Why New Mexico’s county records aren’t a good indication of a home’s true value.

If you have any other questions for us about Zillow, Zestimates, or anything else related to real estate, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.