Zillow Zestimates

It’s a proven fact that the majority of homebuyers start their home search online.  One of the more well-known sites for home information is Zillow.  Zillow provides a range of tools for homebuyers, including Zestimates, which are Zillow’s best estimate of a home’s value.  Should you make decisions based on a Zestimate?  Here are the things to consider.

How Zillow Calculates an Estimate of a Home’s Value

Zillow uses an automated system to prepare estimates for over 100 million home in the U.S.  Given the sheer volume of estimates it tracks, Zillow must use a calculation based on a range of publically available information that results in an average price.

Data sources used for the estimate include MLS home listings, county tax records, and recent sales in the target home’s area.

How Accurate are Zillow Zestimates?

Zillow is open about the accuracy of its Zestimates.  For example, Zillow explains that half the home values are within 5.4 percent of the selling price, and half are off by more than 5.4 percent.  That means that half of the $200,000 homes on the site could be valued at roughly $190,000 on the low side or $210,800 on the high side.

Let’s say that the half that are off by more than 5.4 percent are actually off by 10 percent.  In that case, the $200,000 home could be valued at $180,000 on the low side or $220,000 on the high side.

Why are the Estimates Inaccurate so Often?

There are many reasons why the estimate could be inaccurate:

How Can Zestimates Cause Problems?

The biggest problem is that homebuyers and sellers tend to take the estimates they see on Zillow and other real estate websites as fact.  They don’t know about information like this and Zillow doesn’t make it easy to find.

Homebuyers may plan on making a ridiculously low offer on a home, and home sellers may plan to set an unrealistically high listing price for their home.  Then, when a professional real estate agent gets involved, the homebuyers and sellers are often presented with conflicting information.

Real estate agents are very familiar with Davie FL homes for sale, the neighborhoods in the area and the real estate market.  The comparative market analyses they prepare take many factors into account that the automated systems don’t.

What’s a Consumer To Do?

The advice I give to my clients is that they can use websites like Zillow to see lots of information, but that they need to take estimated home values as a very broad guideline.  They need to realize that the home value estimates are most likely off by tens of thousands of dollars.

In addition, I recommend that clients use a home search that comes right from our local MLS, like this one.  Searching the MLS gives you the most accurate information available, and you can simplify your search by setting up your own search account.

Using this account, you can save homes you like as favorites, and get emails as soon as homes that meet your criteria hit the market.  You can also save searches so you don’t need to select your criteria every time you visit the site.

If you have questions about buying or selling home in the Davie FL area, the experts on the Teri Arbogast Team can help.  Call us at 954-242-8030 or send an email!

 

Teri Arbogast Team Davie FL Homes for SaleWe specialize in Davie FL homes for sale, and Broward County homes for sale in the Cooper City, Coral Springs, Pembroke Pines, Plantation, Southwest Ranches, Sunrise and Weston communities.

Top restaurants in Davie FLIf you’re a foodie looking at Davie FL homes for sale, this blog post is for you.  There are many excellent restaurants in Broward County, but you’ll find a nice assortment right in Davie.  It’s tough to choose the top restaurants since everyone’s taste is different, so I decided to go with popular opinion.  These are some of the top restaurants as ranked by the TripAdvisor website.

LaSpada’s Original Hoagies

If you want a new experience in hoagie heaven, try LaSpada’s on South University Drive.  They pride themselves on using rolls baked at an Italian bakery, top quality meats and cheeses sliced for each order and fresh vegetables.  They’re a popular destination for a casual meal or for a carryout for tailgating fun.

Vienna Café & Wine Bar

Located on West State Road 84, this café is a local favorite and has been recognized by OpenTable and Zagat.  Their menu focuses on classic European dishes with some American regional specialties.  Chef Per Jacobsen is from Denmark originally, and has a long history of culinary training and successes; he opened the Vienna Café & Wine Bar in 1999.  Today, the wine cellar offers 160 selections, with 20 varieties served by the glass.

Kristof’s Kafe

Kristof’s is the place many people go for breakfast or lunch to relax in a homey setting while enjoying fresh and unique dishes.  For breakfast, their specialties include strawberry-stuffed and banana pecan French toast.  Lunch offers a selection of delicious salads, ranging from crispy chicken to seared tuna.  They’re conveniently located on West State Road 84.

Mission BBQ

Mission BBQ, located on South University Drive, opened in 2011.  They created their recipe after extensive travel across the U.S. and their customers think they got it right.  Their menu includes brisket, pulled pork and chicken, baby-back ribs, sandwiches and kid’s meals.    If you’re having a party, they’ll prepare a “pick up pack” so you can enjoy barbeque for a crowd.  The restaurant is also known for its patriotic theme and its philosophy of giving back to men and women in uniform.

Ally’s Comfort Café

Looking for an outstanding home-cooked meal?  Many folks in town would send you over to Ally’s.  One commenter on TripAdvisor said it best, “Best home cooking this side of home!”  From its location on West State Road 84, Ally’s serves breakfast and lunch seven days a week.  The breakfast menu is extensive.  The lunch menu offers sandwiches of all varieties, hamburgers and salads, along with other things like fish and chips and gyro sandwiches.

Tijuana Taxi Co

If you have a hankering for Mexican food, you can’t go wrong at the Tijuana Taxi Co on South University Drive.  It’s a lively place that is open for lunch and dinner.  It’s also a popular meeting place to enjoy after-dinner margaritas.  The menu includes all of your favorite Mexican dishes, and a variety of house specialties.   There’s even a kid’s menu that leans more toward chicken fingers and grilled cheese sandwiches, although the Chiquito Palomilla, flame-grilled skirt steak, is a house favorite.

Shinju Japanese Buffet

The Shinju Japanese Buffet in Davie is located on South University Drive.  They pride themselves on offering some of the freshest Sushi and seafood buffet in Florida.  If you’re looking for Sushi, Hibachi, Chinese or seafood, you’ll find it on their extensive buffet.  Comments on TripAdvisor raved about the freshness of the ingredients and the friendliness of the wait staff.

Pizza Heaven

If you’re in the mood for a great pizza, it makes sense to go to Pizza Heaven.  Located on Weston Road, this family owned and operated restaurant gets high marks for having the best pizza in town.  Besides pizza, you’ll also find soups, salads, and traditional Italian fare including spaghetti, veal dishes and more.  They’re also known for a friendly staff and many times, a visit from the owner to ensure that your meal is exactly to your liking.

Le Café Francais

Also located on South University Drive, Le Café Francais prides itself on being a throwback to old French cuisine.  When you want a leisurely meal accented by white tablecloths and napkins, Le Café is an excellent choice.  They’re open for breakfast, lunch and dinner.  Appetizers include escargots and French onion soup that diners love.  Entrees include beef, duck, and fish offerings prepared in the authentic way by French chefs.

I’ve discovered that thinking about the top restaurants in Davie FL makes me very hungry!  If you’re a foodie moving to Dave FL, you won’t be disappointed.  If my team and I can help you buy or sell a Davie home, just call us at 954-242-8030 or send an email.  We’re experienced, professional local real estate experts who can help you complete a successful real estate transaction.

 

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