“Hi Gary. I saw a little condo near SDSU for sale. The agent was advertising it as being $35,000 under Zillow Zestimate. Im not sure what theyre talking about. Does that mean its a good deal?”
***ANSWER:
Nope.
What that means is the agent is trying to sway anyone foolish enough to think that Zillows market valuations (zestimates as they cutely call them) have ANYTHING to do with reality.
As I mentioned in previous newsletters, Ive found the estimates from Zillow to be grossly and pathetically inaccurate.
One real estate columnist advised his readers not to rely solely on the site, but to use its value estimate function as a resource.
I disagree 100%!
Zillow is so far off the mark, you might as well be using tea leaves and tarot cards. (Dont you wish Id tell you how I really feel!?)
By the way, a quick aside
An agent I know, whos also a hairstylist, told one of my agents that Zillow was going to put Realtors out of business. My agent zinged him right back by telling him that the Flow-Bee would put him out of business. (Cmon, you remember those Flow-Bee commercials from the 60s and 70s, dont you?)
