Zillow can be a helpful tool for homebuyers and sellers. However, you should take their value estimations with a grain of salt.
When you’re thinking of selling your home, the first thing you probably want to know is what it might be worth on the market. Most of us want instant answers, so we head to a site like Zillow to get an automatic valuation. However, can you really trust the Zestimate you get?
The way Zillow and these other websites get their information is through public information from tax assessments, user submitted data, and current market data. However, in the state of Idaho, homeowners are not legally obligated to disclose their sale price to the tax assessor.
Because of that, the information is confidential and Zillow doesn’t have access to it. Without having access to accurate and up-to-date data, there is no way to get an accurate valuation in this market.
“Without accurate sale data, you won’t get an accurate value.”
Zillow can be really helpful in the same way WebMD is. If you are having certain symptoms and trying to figure out what’s wrong, that’s where you’ll go. However, when you know something is wrong and you are sick, you’re going to go to a doctor. In the same way, why would you trust your home value to Zillow when you can get an accurate assessment from a real estate professional?
If you have any questions about buying or selling a home, don’t hesitate to reach out to us. We are always here to help out.