Zillow recently announced that it is ending its ibuyer program due to issues with its Zestimates. According to Business Insider, they ended the program after overpaying on homes.
The Zestimate algorithm is only as good as the data behind it.
A true home value estimate requires a thorough assessment in person to evaluate all the home features, upgrades, amenities, etc. A home valuation goes beyond just the raw data as it can be prone to errors, such as a run down home dragging values down or a home recently sold dragging other prices up on homes that really are not worth that much.
If you would like to discuss other ibuying options versus selling the traditional way through a local and knowledgeable agent, please call or text me at 949.749.5828. Today’s sellers have choices to best fit their needs, but need to understand the pluses and minuses of each scencario.