Last time I checked a Zestimate it came up with what the home just sold for. The problem was it sold for over 150000 over comps with no good comparisons available. Called the listing agent and asked how they got so much money and she stated she really didn't know. They got lucky and there were active listings in the price range at the time....What appraiser uses actives?!!
I think Zillow is a great idea, I wish I would have thought of it. But I would have big bold disclaimers everywhere. "PS Our analysis really doesn't mean anything. We pull comps out of the blue."
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Margaret Holland
Holland Realty
Broker