But Zillow’s Zestimate® Says My Home Is This Much?
But Zillow’s Zestimate® Says My Atlanta Home Is This Much?
In this paragraph I will talk about something that I hear often in this business. Zillow will tell you on their own website to get an appraiser or consult a real estate professional. When was the last time that you trusted your local tax assessor to give you and accurate price on what your home is worth? Chances are you aren’t very trusting of that persons assessment of your homes value even though they reside in the same county as you. Moreover, why would people trust a company that ONLY knows their home through satellite photos of the rooftop?
Unfortunately the average consumer isn’t aware that by their own admission; Zillow is not always correct and has a margin of error.
At the time of publishing, the latest zestimate® accuracy data for Atlanta GA shows that 99% of the time Zillow’s Zestimates® are 20% off from the sales price of a home on the market.
20% off from a $500,000 house is $50,000! What could your family do with that 20% difference? What would that money mean to you?
At the time of publishing, the latest Zestimate® accuracy data for the two counties that make up the majority of the city of Atlanta, Dekalb and Fulton as well as those that touch the Atlanta I-285 bypass, Clayton and Cobb, shows an 98% average of on-market Zestimates to be 20% off from the sales price of a home.
This is still an alarming number and I wouldn’t have wanted to the the seller that missed out on that 20%.
How is a Comparative Market Analysis (CMA) from a REALTOR® like myself much better than a Zestimate® ?
As a REALTOR® it is my job to know the in’s and out’s about your property and neighborhood/community stats. Zillow probably isn’t going to know the five factors that influence your homes resale value.
Also as a real estate professional I will analyze the internal and external condition of your home, the uniqueness of it, note any updates you have done since purchasing the home. Thus far, Zillow doesn’t have x-ray vision technology to see through the roof and walls of your home to see your unique furnishings. Your home may be far different than your neighbors and yet may be similar in age.
As an Agent, I will make allowable adjustments for many things including those listed below.
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Differences in sq ft if greater than 100 sq ft.
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Age of the home to comparable – If over 5 years of age
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2 Car Garage vs. 1 car garage vs carport
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Deck vs. No Deck
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Patio vs. No Patio
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Hardwoods vs. New Carpet vs. Vinyl
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Fresh Paint vs. None
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Basement vs. None vs. Finished Basement
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# of Bathrooms
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Type of View
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Cul – de -Sac vs no cul-de-sac
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Fireplace vs. None
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Fenced Yard vs. None vs. Partially Fenced Yard
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Age of HVAC
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Age of Roof
- New Windows
The idea of a CMA is to make adjustments to those properties that have SOLD near your home/area within the last six to nine months. Six is preferable unless there is low inventory of homes that have sold nearby. We only make adjustments to the comparable properties; never the subject property/yours.
This analysis gives us a range in which your home should be listed at. There is then a bit of art and science in utilizing some of the updates or improvements that you may have done since purchasing. Unfortunately we can’t really make an adjustment for the fact that you decided to install granite countertops in your kitchen while the neighbor chose not to. Do the granite countertops show value? Yes, of course, but it is an allowable adjustment? No, not in greater Atlanta.
Working with a real estate agent allows one to often see the MLS photos of the nearby homes that had sold recently. They will be able to study these unique differences in relation to your home to narrow down the best ‘sweet spot’ that your home should sell for within that range mentioned above.
Please trust our local First Multiple Listing Services (FMLS) and GA Multiple Listing Service (GAMLS) as well as I, your real estate professional to provide you with accurate housing market info and trends.
LIVE Average Sales Price of Clayton County GA
Search for your CLAYTON County Dream Home Below. (Filter set at $750,000 and below and shows “ACTIVE” properties. Click ⬇️ to open and adjust filters to your price point.)
LIVE Average Sales Price of Cobb County GA
Search for your COBB County Dream Home Below. (Filter set at $750,000 and below and shows “ACTIVE” properties. Click ⬇️ to open and adjust filters to your price point.)
LIVE Average Sales Price of Dekalb County GA
Search for your DEKALB County Dream Home Below. (Filter set at $750,000 and below and shows “ACTIVE” properties. Click ⬇️ to open and adjust filters to your price point.)
LIVE Average Sales Price of Fulton County GA
Search for your FULTON County Dream Home Below. (Filter set at $750,000 and below and shows “ACTIVE” properties. Click ⬇️ to open and adjust filters to your price point.)
If you want to know what the Atlanta housing market says about your homes value please contact me today and I will be happy to do a property Comparative Market Analysis for you.
I live in our area and pull from the MLS so it may just be better than that Zestimate® ! I will be happy to follow up with you and hear about what makes your home so unique and all about it’s special qualities and then provide you with a personal, professional, tailor-made comparative market analysis (CMA).
Inventory in all of greater Atlanta is very low! Contact me today and I’ll work hard to get you top dollar!
Lonnie Hand
