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But Zillow Says My House is Worth More!

Hello Hampton Roads,

Zillow is probably the best known  AVM (Automated Valuation Model) with valuations for over 100 million homes throughout the county.  According to their website, these valuations are determined using a proprietary formula combining both public data as well as user submitted data; but have you ever wondered just how accurate those home values are?

I can't tell you how many times I've heard people say "But Zillow says my house is worth more!" A quick anecdote, 2 years ago in 2016, Zillow's CEO Spencer Rascoff, sold his home for 40% less than its Zestimate and bought another home for $1,000,000.00 more than it's Zestimate.

A Zestimate is only as good as the quality of data and  even Zillow says that the Zestimate is a starting point to determine home value.

The Zestimate algorithm has been updated several times since 2006 with the latest update in 2011 and valuations have improved over time, with some areas of the country having a higher…

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