Home Valuation

Why Knowing The Value Of Your Home Is Important-And Why A Zillow Zestimate Is Not An Accurate Tool.

If you’re using a Zillow Zestimate to get an accurate home valuation, you may get a skewed result, which could then affect your home’s listing price. While Zillow has historically provided relatively accurate estimates based on the year the home was built, the number of bedrooms, square footage, and other quantitative data, they’ve recently changed their algorithm. Even when Zillow was fairly accurate, it still provided only an estimate as opposed to a true valuation done by an appraiser or Comparative Market Analysis. Here’s how to get an accurate home valuation and why relying on Zillow or similar sites is usually a bad idea. Outstanding client service, experienced business practices, and ingenious marketing strategies are what make our team the most trusted team in the area.Outstanding client service, experienced business practices, and ingenious marketing strategies is what makes our team the most trusted team in the area.

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What is a Home Valuation?

A home valuation is just a fancy way of saying what the value of your home is. They are used during real estate transactions such as buy-sell or refinances to ensure homeowners or buyers are not overborrowing for a property. The home is used for collateral in a mortgage, and if the borrower defaults on his or her loan, the lender will sell the home to recoup the money lent to buy it. If the home was overvalued and they lent too much, they could lose money. The home valuation ensures they will be able to recoup costs should the mortgage not be paid in full.

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What is a Zillow Zestimate?

A Zillow Zestimate is an automated home valuation tool and is recommended as a starting point when determining the value of your home. It incorporates user-submitted and public data and takes into account home facts, location, and market conditions. Zestimates are done entirely online, and no representative of Zillow will visit your home to perform an appraisal. Banks and lenders do not use Zillow or similar services to estimate property and instead rely on the expertise of a licensed appraiser. A Zestimate can be off by nearly 5% nearly 40% of the time in some markets, which amounts to around $15,000 on a $300,000 home.

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What is the Main Difference Between a Zillow Zestimate and a Valuation Performed by an Agent?

The main difference between the two is that a Zillow Zestimate is simply an algorithm. You punch in data, and a value pops out. There is no actual human involved who views your home, compares it against others on the market, and produces a detailed report. When an agent conducts a valuation, they are actively involved in the process and create a valuation that is personalized and in-depth.

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Reed M.

Reed M.

This was the second transaction that I have worked with John on and once again, it couldn't have gone any smoother. It is a hot market and he was prescient on what units would go for. I can't recommend John enough. He is prompt...
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Jill G.

Jill G.

John Nash is a very knowledgeable, professional, and dedicated Realtor®. He is very approachable, patient, and responsive to all of my phone calls, emails, and text messages. Even after the purchase of our condo, he was there t...
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Karen L.

Karen L.

We had a great experience buying our home in Lafayette with John. He's super knowledgeable about the Lamorinda area, well-connected and well-liked by other agents, and just great to work with. We appreciated how communicative J...
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Michael R.

Michael R.

We have worked with John twice now and cannot recommend him highly enough. John goes above and beyond to help his clients navigate the (currently crazy) market. He got to know what we wanted in a house so much that my wife didn...
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Mariana K.

Mariana K.

John was a pleasure to work with during our relocation and home-buying process. He connected us to excellent pros and he was so on top of everything. His communication was exceptional, he was always one step ahead of the game. ...
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Lauryn B.

Lauryn B.

Throughout the entire selling process, John was amazing! His responsiveness, knowledge, and enthusiasm are the top three attributes that stood out most about him. John offered great insight into the market, was full of informat...
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Francesca R.

Francesca R.

We recently closed on our first house with John and can say with 100% certainty that we would not have survived the process of buying a home in a pandemic or in this crazy market without him. We refer to John as our Realtor® gu...
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Jessica S.

Jessica S.

My husband and I started working with John during the beginning of 2020. As first-time homebuyers, John was extremely patient with us and took the time to walk us through all the details that we needed to know (from the loan pr...
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Michael R.

Michael R.

My wife and I were first-time home buyers, well home lookers when we started. We had seen a place on Zillow that interested us and were put in touch with John through a family member who had worked with him. We saw the place on...
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Justine S.

Justine S.

John Nash is a talented realtor with a great and growing reputation. We got connected to him by chance and our gut told us to move forward with him. He is extremely patient and helped us navigate through the home buying process...
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Claire W.

Claire W.

John did an amazing job handling the sale of a house I was responsible for as a trustee. John helped with every aspect of the sale and I highly recommend him if you are listing your home for sale. He pays attention to every det...
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How is a Valuation Performed?

There are two accurate ways to perform home valuations: with a Comparative Market Analysis and an appraisal. ​​​​​​​Here is how the two differ:

Why is a Valuation Important?

Though getting a valuation in order to sell your home is the most common reason to get a home valuation, it’s not the only one. ​​​​​​​Here are some more situations when a home valuation may be necessary:

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