Zillow say’s my house is worth $225,000! Is this true? We have had this discussion many times with our clients. Here is the best answer I can give to that question. Zillow runs an algorithm which picks up sales for a given area and then offers an average of that value for your home. They have never seen your home nor do they have any idea of its attributes or deficits. Why do they do this algorithm? Zillow offers this valuation as a marketing tool for themselves, Zillow. The idea is; they give a computer-generated value which gets your attention, you then register yourself with Zillow to continue your search. Ever wonder why this is free to you? It is because they capture your info and then sell it to a Realtor like me! From that Zillow generated lead we contact you and hopefully can discuss the sale of your home. We may have not ever crossed paths if not for the Zillow service. The bottom line is the home value offered is just Zillow marketing. The real evaluation happens when we run area comparable sales and then visit your property to adjust value for additional attributes or deduct for items needed, things like sink hole or needs a roof. Or the opposite side of value, the kitchen has been redone Etc. Zillow has no idea any of these conditions are present. The lenders do not use Zillow as an appraisal tool and the buyers certainly don’t use it as true value. Clients will pay more for a great kitchen or fabulous view. Inventory also has a factor. If your area inventory is low, many times the house sale has a bidding war going on and value keeps climbing. What about the other side of the coin, what if the house is next to a salvage yard and a gas station? Zillow does not know these conditions either. If you want a true marketable value it takes some work, research, knowledge of the market and considerations of any WOW factors just to name a few things considered. Keep in mind, whatever we sell your home for we still need to be able to back up value to an appraiser especially if there is any kind of finance. (another whole area of discussion) I hope this info has helped you get a better idea what is really needed to get true value for your home. Contact our office to discuss any thoughts you may have. Cookieerickson@msn.com or 352-238-9161 our website www.realestateprofessionalsltd.com