There are many websites out there like Zillow that use fancy algorithms to estimate your home’s value based on comparable sales in the surrounding area. These websites are quite popular and are used by many people during the first stages of the ‘I think I want to sell my home’ process.
While in many states these websites and algorithms can be a great starting point for seller, they are not great in states that are considered non-disclosure states. A non-disclosure state is a state where the sales price of a home does not or can not be disclosed to the public through the local county’s office.
This happens in two ways:
Here lies the problem. Guess where Zillow pulls the information that is fed into their algorithms? You guessed it, county sales records! Pulling and ‘zestimating’ information in non-disclosure states means the information is neither complete nor correct.
Now let’s take a look at which states are considered non-disclosure states:
Alaska, Idaho, Kansas, Louisianna, Mississippi, Missouri, Montana, New Mexico, North Dakota, Texas, (wait for it) UTAH, and Wyoming.
That’s right kids, Utah is a non-disclosure state. The information Zillow pulls or receives to tell you how much your house is worth is flawed kids.
If you are thinking of selling your home, or are just poking around on Zillow etc., please make sure you take their information with a grain of salt. Who should you contact if you want to know your home value?
Not only can we only use home values in your area 90 days back, but we also need to factor in more than just square footage, bedrooms and bathrooms. What about that gorgeous kitchen you put in or that nasty bathroom you didn’t?
All I’m saying is use me. I’m here to be used, k?
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