How Accurate Is www.zillow.com?

Whether you have visited the website www.zillow.com or not if you are thinking of buying or selling a home it is worth at least a look. Is it reality? I am not so sure. This website is fueled by big time venture capital and more and more people exposed to it are using it as a gauge to their property’s value. The good people at Zillow use a proprietary formula to come up with an estimated value called a Zestimate (pronounced ZEST-ti-met rhymes with estimate). They compute this formula by taking data from public sources and recent transactions. They claim the more transactions and data they have the more accurate the Zestimate will be. One problem I see is the reverse could also be true.

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