Zillow is slightly more optimistic than our tax assessor


Zillow is slightly more optimistic than our tax assessor
By Scott Rogers • October 24, 2011
Zillow.com has been around for a few years, but only recently has offered thorough information on the Harrisonburg and Rockingham County area. On Zillow you can look up the estimated value of (just about) any house in this area. But the question, of course, is how valid are these estimates by Zillow? I performed a brief analysis for a client on the Greendale subdivison. Thus, admittedly, this is quite a small sample size. Perhaps I'll expand it further soon to see how Zillow performs in other areas when estimating the value of properties in the City of Harrisonburg. The above analysis considers arms length sales from the past year in Greendale subdivision located in Harrisonburg, Virginia. This does not include REO sales (bank owned) or short sales. A few observations.... On average, Zillow's estimates of value were 3% above the market, while the local tax assessor was only 2% above the market. Both Zillow and the local assessor were right within 10% of actual market value. In theory, per the above information, you could take either your home's tax assessment or ZIllow Zestimate and then add and subtract 10% to guess at the value of your home. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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