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Hey folks, today I wanted to share something very important with you. Over the last few years, Zillow, Trulia, and Realtor.com have become very popular places to search, so we wanted to share some important information with you about one of those sites today.

What I really want to focus on is the "Zestimate." It's Zillow's version of the appraisal, and at the end of the day, it's pretty much a joke. They even have a disclaimer on their site that states they are more than 5% off a home's actual value 60% of the time. To demonstrate my point, I'm going to show you 3 different homes. First, I'll tell you what we sold the home for, then I'll tell you what Zillow estimated the property would sell for.

The first property is at 6938 E Quail Track Dr. We sold this home for $745,000, but Zillow estimated it would sell for $680,000. This particular home was undervalued by $65,000, almost a 10% difference.

The next home is 4242 N 31st St. in Phoenix. We sold this home for $363,000 and sold it within 48 hours of listing. According to Zillow, this home was worth just $300,000. This home was undervalued by over $60,000, a 17% difference.

Finally, we have this property on 7645 N 10th Ave. We sold this home for $660,000, and 30 days after escrow closed, checked its Zestimate. This home was only valued at $571,000. It was undervalued by nearly $90,000!

The thing you have to remember about Zillow is they know nothing about your specific home. They are pulling numbers from the tax assessor and taking an educated guess. They want you to go to their site and keep you there to sell advertising. Their motivation isn't any deeper than that. They don't want to help you sell your home.

A real estate agent does. And if you are thinking about selling your home at a price comparable to your Zestimate, think twice, and give us a call or send us an email. We look forward to speaking with you soon!