Check out our newest Coldwell Banker commercial, http://bit.ly/cbdoghouse or click the picture of our puppy "Zuki" below.
More and more questions arise about the "Zestimate" given on the Zillow website. The "Zestimate" is an AVM (Automated Value Model) and is, in most cases, a very rough guess on a properties current market value. Please keep in mind that an AVMs should never be used in place of a CMA (Comparative Market Analysis), which is always available and should be done by a qualified Real Estate Professional, like myself.
Check out the link below, its a great article about the accuracies/inaccuracies of the zestimate and some of the pit-falls of trying to adhere to "Zestimates" when buying and selling. The error rates in some areas are pretty ridiculous!
Zillow CEO Spencer Rascoff answered that they're "a good starting point" but that nationwide Zestimates have a "median error rate" of about 8%.
Jason Moon Real Estate Broker with ColdWell Banker Bain. Seattle, WA