If you own a home chances are you’ve thought to yourself “Should I Use A Zestimate for my Utah Home Value?” Utah is a non-disclosure state so check out this video to see where Zillow actually get’s their data to determine the value of a home.
Video Transcript:
To zest or not to zest? Let me ask you a question. Would you eat at a one-star restaurant? Actually, come to think of it, I don’t even know if that’s a thing. I’m pretty sure the health department would shut that down. How about, would you stay at a one-star hotel? Now, I don’t mean to get sour here, but let’s talk about Zestimates. This is Melissa with Utah Homes by Melissa. Whether you’re looking to sell or buy a house, chances are you checked out a Zestimate. Well, did you know that Zillow rates their Zestimates here in Utah as a one-star accuracy. So what does that mean to you as a consumer? Well, Utah is actually a non-disclosure state. So Zillow can’t obtain sales information unless someone like the seller reports it to them. So how do they give a Zestimate value for a house? Well, in Utah, Zillow either takes the value that the county assessor gives you for your home and they send you that property tax statement each year. Or, they have a special algorithm that they use where they group all of the information that they have for an entire county. So it doesn’t matter if you live in Draper or up by the capital in Salt Lake City, or the east bench of Sandy all the out to West Valley. That is all grouped together in their algorithm. So Zillow doesn’t look at things like the condition of your home or location or very important things like that, quite honestly. So I wanna share with you this Zestimate I pulled on my house. The neighbor’s house shows a value of $3.56 million, but just across the street, that house is actually bigger with a view of the entire valley and their Zestimate is $455,000. When I looked again after that $3.56 million house sold, it dropped the value to $643,000, which still was not even close to what it sold for. Just to give you an idea of how far off it was, if you were watching a Jazz game, you wouldn’t even be in the nosebleed section. It’d be more like watching a Jazz game from City Creek. So that kinda tells you an idea. Use A Zestimate for my Utah Home Value if you want or if you want an accurate idea of what your home is worth, contact me and I’ll give you a free CMA for your house. This is Melissa with Utah Homes by Melissa. Make it a great home buying and selling day.
