There are numerous criteria and data points alike available to
help you price your home. The Zillow
Zestimate is not one of those. Now I may
sound like a bitter agent saying this, but if you rely solely on the Zillow Zestimate, you
run the risk of not being properly priced. Even Zillow admits sellers should
not use Zestimate for pricing their homes. According to Zillow’s own website for the Atlanta market, the Zestimate
only gets within 5% of the sales price 57% of the time. The more rural the market, the higher the
Zestimate error rate goes as well. Jump on
http://www.zillow.com/zestimate/ to read more from Zillow.
Although, most of the relevant data can be compiled with your own diligent
research, I strongly recommend working with a professional real estate agent to
help you interpret the data. The simplest
answer is price per square foot for a given area, but even this does not take
into account the home’s overall condition, amenities or improvements. This is where your agent will be able to help
you understand the current, local market trends, the number of available homes
for sale in your area, and how to properly adjust the price for differences between your home
and your neighbor's such as a swimming pool or finished basement. Bottom line, talk to your real estate
agent. Ask them to walk you through
exactly how they came up with their price.