Should I Believe the Zestimate?

A question that many homeowners want the answer to is: "What is my home worth?" The answer is not always so simple. There are websites you can go to that claim to give you a value but more often than not those sites are way off. One such site Zillow offers a service called “Zestimates®”. While it may be fun to look at “Zestimates®”  I consider them more like Guesstimates. Here is why: This home in Somerville sold for $404,900 Here is the Zestimate® If this seller has listened to the Zestimates® they could've lost over $30,000. Here is a multi-family in Cambridge where the price difference was $65,000. This home sold for $950,000. The Zestimates® was $885,000.   This condo in Watertown sold for $167,500 Here is the Zestimate® If this buyer had listened to the Zestimates® they could've paid an extra $17,000.

Whether you are a buyer or seller it is important to work with a trust real estate professional. Guy Contaldi helps clients finds homes for sale in Boston, Cambridge and surrounding communities.