How to use Zillow to accurately determine the value of your home?

Read this information to learn how to use Zillow to determine your home value.

Many times, people will use Zillow to determine the value of their home. I’ve studies home values and home trends for almost ten years now. When Zillow first came out, I regularly compared my appraisal value to Zillow home values. Today, I will tell you how to select the best comparable sales in Zillow, so that your home value will be more accurate.

Type your address into the Zillow address bar and let the computer figure your home value. Once this is complete, go to the left corner of the webpage and select sales and listing boxes. This will bring in the sales and listings in your market area. Now this is what you want to do.

1. Arrange the sales with the most recent sales first. This will allow you to select sales that are recent within your market area. This is one of the most important criteria, as markets will change with the fluctuation of the interests’ rates and the season.

2. Look for homes that offer similar design and appeal. If your home is a two story home, find other two story homes. If your market area offers different designs than your home, keep looking for similar sales.

3. Make sure that the bedroom and bathroom counts are similar to your home. If you have three bedrooms located on the upper level, this is what you’ll want to find for comparable sales. Don’t compare two bedroom homes with three bedroom homes. Don’t compare split bedroom homes (one bedroom and the main level and two bedrooms on the upper level) to homes with three or more bedrooms located on one level.

4. Find homes that offer the same age and updating as your home. Zillow seems to select homes most proximate to your home. If you have an old home and all of the other homes offer newer homes, they are not comparable. Keep looking for homes that are similar to yours.

If you’ve found that there are no real comparable sales in Zillow, then you can’t use Zillow to determine your home value. Do you know why? You do not have enough supporting evidence unless you can locate similar comparable sales. In this case, you may have to hire a professional. If you need home value to decide if you’d like to proceed with a loan, consider a Desktop appraisal, this may save you money in the long run.