Obsessively Checking ZestimatesExcerpts: If you own a home, or want to own one, chances are you’ve spent some time with one of the many apps that estimate home values. As real estate prices have risen in recent years, watching one’s equity grow – at least on paper – has become something of a national pastime. Some would call it an obsession.
“I check my Zestimate way more than my 401(k),” said Bradley Reed, a homeowner in Cleveland, referring to Zillow’s proprietary tool.
“On a slow week, I might check it every other day,” said Krista Burns in Doylestown, Ohio.
Listen or read the story and twitter comments, see some fotos, etc. Add your comment at the bottom.
My comment: Zesimates are free, but often not accurate. They work well in newer conforming subdivisions, but not well with older homes.
I listen to the marketplace podcast almost every day, listened to this one last week, and really liked it. Fortunately, with this link you can read the transcript or listen to it plus read some twitter comments. I know that real estate agents have lots of problems with it. I wonder how many appraisers look at Zestimates? You may be surprised!! Some even include it in their appraisal reports and explain why their value is different.
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