Should You Trust Zestimates?

Zillow and its Zestimates have become a common topic of conversation. Here’s what you should know about them.

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One of the most common questions I’ve been receiving lately is: “How accurate is the Zillow Zestimate?” 

Every time we do a market evaluation on a home, we pull up its Zestimate and we are also pulling up recent comparable sales numbers. After reviewing dozens of these Zestimates and comparing them with the home's actual market value, I have a few thoughts about them.

The first is that they are extremely good at analyzing large amounts of data. If you had 10,000 homes as a sample size, the numbers would be right on the money.

However, when it comes to individual homes the numbers aren’t as accurate. In fact, they are off by 15% to 22% nearly 70% of the time. It’s a good tool to use when you’re just starting the process, but when you’re trying to come up with an actual list price for your home, there is a much better way to determine what that price should be. 

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We can get you an accurate home valuation.

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If you have any questions about the value of your home or if you or someone you know is looking to make a move, don’t hesitate to give me a call or send me an email. I would love to hear from you.

What's Going on in the St. Cloud Real Estate Market

What's going on in the St. Cloud real estate market? I've got a quick update for you.

Looking to buy in St. Cloud?  Get a full home search

 Looking to sell in St Cloud? Get a free Home Price Evaluation

When it comes to the state of the St. Cloud real estate market, I'm happy to report that it's continuing to be very strong like it has been in recent months.

The inventory of homes for sale is a bit low, but has gone up since the first of the year. We have about 864 homes on the market, and interestingly enough, we also have 498 pending sales in our market. 

Compared to last year at this time, we had about 380 pending sales, so sales are strong currently. Inventory last year was about 1,200 homes.

Inventory is good, but it's a little bit tight. As a result, homes are moving quickly. We see quite a few homes sell as fast as a week to eight weeks. The great news in real estate is that interest rates are right around 4% or even better on some days.

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The great news is that interest rates are only about 4% currently.

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If you're thinking about making a move, it's a great time due to low interest rates and good home prices with a decent selection.

If you have any questions, you can always give me a call or send me an email. I look forward to helping you with your move!