Online Real Estate Estimates
It’s fun to enter an address on a website and instantly receive an estimate of what that property is worth. But the data that powers many of those automated valuation models is inaccurate and unreliable. Who says? The websites themselves. Look below to see how popular sites that offer online price estimates describe limitations with their own data.
“The Zestimate is not an appraisal and you won’t be able to use it in place of an appraisal, though you can certainly share it with real estate professionals. It is a computer-generated estimate of the worth of a house today, given the available data. Zillow does not offer the Zestimate as the basis of any specific real estate related financial…