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Is Your Zillow Estimate (Zestimate) Really Worth It?

Zillow and Trulia are two of the largest websites when it comes to shopping and comparing home prices within your local area.    Twenty years ago, most of who were shopping for a home typically contacted a real estate agent first.   Once we gave the agent all of our new home wish list, they would compile a ‘get in the car’ tour where you were whisked away to see 20 or 30 homes before you narrowed it down to just a just a few.   Then, after comparing prices and your options, you would make an offer on the property that best suited your family.   Now companies like Zillow and Trulia allow you to turn this funnel completely upside down.  Do the values shown on these websites really matter? What is a Zestimate®? (source: www.zillow.com) The Zestimate® (pronounced ZEST-ti-met, rhymes with estimate) home valuation is Zillow’s estimated market value, computed using a proprietary formula. It is not an appraisal. It is a ...

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