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But Zillow says my house is worth…

It is actually quite often that people I run into have been completely misguided about their home values.  With the incredible technology and information online about real estate and home searches, people often feel that real estate websites are getting to the point where they are extremely accurate and reliable.  In some large cities, evidently this is true.  In Charlottesville, there still seems to be a huge void between what these websites predict about our real estate values and local market, as compared to market reality.

Zillow and Trulia seem to be the two biggest offenders when it comes to this as they offer automated home valuations that people like to use to predict their home values from year to year.  Zillow’s Zestimates seem like they are based on enough data and information that they would at least be able to give you a reasonable range within which you could expect your home price to fall.  However, that does not often seem to be the case.

According to Zillow themselves, almost every market area in Central Virginia has an extremely low accuracy level- check out the charts below that they provide to set your expectations!

Their self-reported accuracy level is extremely low (almost all nearby counties are a 1 out of 4 star rating) and I can absolutely attest to that!

All that being said, please do not let automated estimates of value set your expectations about your own home or homes you may be interested in buying!  If you need pricing analysis and recommendations, please consult with a real estate professional- ideally me! – for guidance.


Posted on July 18, 2011 Leave a Comment

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    🏡 Just Hit the Market! ✨

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    COMING SOON | 🏠 2777 Peppervine Court Charlottesville VA 22911 | MLS #666469 | $725,000 | 🛏️ 5 bed 🛁 3 full/ 1 half bath | 🎉 OPEN HOUSE Saturday, July 12th from 12 PM - 2 PM!

Located in the highly desirable FOREST LAKES SOUTH community, this 5-bedroom, 3.5-bath home is ideal for both everyday living and entertaining. The beautifully updated kitchen features RECYCLED GLASS Countertops, new CABINETS, SINK, BACKSPLASH, and APPLIANCES - all filled with NATURAL LIGHT and opening to the inviting family room. From there, step out to a lovely SCREENED-IN PORCH perfect for relaxing!

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    JUST LISTED | 🏠 1025 Bristlecone Lane Charlottesville VA 22911 | MLS #666383 | $425,000 | 🛏️ 3 bed 🛁 3 full bath | 🎉 OPEN HOUSE Sunday, July 6th from 1 PM - 3 PM!

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