Posts tagged Zestimate
Zillow Overvalues Washington Home by 700-Percent in Zestimate Gone Wrong

As an ever-popular real estate website in the U.S., homeowners and potential buyers have long looked to the Zestimate tool when exploring what a home may be worth. Though it can sometimes provide a helpful starting place, there are also pitfalls to the algorithm-based system, which doesn’t account for system errors and the human element of valuing a home. For example, how is Zillow to know if the owners put thousands of dollars into a brand new, state-of-the-art kitchen? These flaws were recently on display in Washington, as Seattle Times reported that a home in Mason County was over-valued by a staggering 700-percent in its Zestimate.

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