News & Advice
Selling your home? Here's how accurate online estimates are
This Silver Spring, Maryland home had a Zestimate of $843,000, but was listed for just $550,000. Susan Janney, an agent with Long and Foster, estimated that the home needed at least $200,000 in renovations.
Susan Janney, the Long and Foster agent listing the home, said she estimated the house needed at least $200,000 in work. "The neighborhood can support it selling at $900,000," she said. "But not in its current condition." After a week on the market, the Zestimate -- presumably having taken into account the listing information -- dropped to $608,149. "The estimates help for an initial conversation," said Anders Ibsen, an agent with Windermere Professional Partners in Tacoma, Washington. "But they are never a replacement for an experienced person who can see the property and understand the real nuances behind value."
Read Article Here from CNN